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Feature ArticleRaising Your Rates Can *Increase* Your Business
How many times have I heard literal horror stories from
Internet business startups? Too many times to count! I get
emails from those who just simply can't seem to make a
living online. They've tried everything (according to them)
and are still struggling to make ends meet.
At some point, the "conversation" always turns to price.
That's where I find a lot of online business people making
their mistakes. The common mindset among Internet business
startups is that you have to keep your prices rock-bottom
low in order to attract customers.
Nothing could be further from the truth! Raising your rates (in some cases) can actually increase your business. How
so? Here are several reasons....
1. People Equate Price With Quality
I'm sure you've heard the expression, "You get what you pay for." That statement comes from a long line of lessons
learned by people across the globe who have bought
something at a discounted price and regretted it later.
Maybe the product was used. Maybe it was made with inferior materials. Perhaps a "discount" service they tried fell
through and left them in a fix. It could be any number of
reasons, but those who have tried the "bargain" or
"discount" route and have been burned are quick to look for
higher priced products and services. It makes them feel safe.
I know of several online business owners who raised their rates on the services they provide. What happened? For
about one week it seemed they had made the wrong decision.
Business all but stopped! However, after that "adjustment"
period, floods of leads came rolling in. They never regretted it.
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2. Customers View Higher Prices As A Status Symbol
It's true! I'm sure you've met some people who love to brag about how much they paid for everything they own. Their car
was custom ordered from the dealer and cost much more than
any old car chosen from the showroom floor. Their clothes
reflect this season's latest trends and were purchased at
full price from the expensive department store... NOT at an
end-of-the-season clearance sale. I could go on and on.
The point is, many customers simply will not buy a product or service at a discount price regardless of how good the
quality is. They have the "ability" to afford higher prices
and are proud of that fact.
3. Many Believe Expensive Products Are Image Boosters
I actually heard this conversation in a department store
once.
Woman One: "Look at this blouse! Isn't it wonderful?" Woman Two: "It's OK, I guess." Woman One: "But it's an Adrian Bloom blouse! I'm going to buy it and make all my friends jealous." Woman Two: "Who is Adrian Bloom?"
Woman One: "I have no idea, but this blouse costs twice as
much as that Liz Claiborne one so it must be the next big thing!"
Can you believe it? The woman had no idea who the designer was, but based on price, she decided it would enhance her
image so she bought it.
The same is true of Internet shoppers looking for products
or services. Those who believe being associated in some way
with higher-priced businesses are more willing to spend
money because they feel it will enhance their images.
Do you have an article for Web Sm@rts? Send to Web Sm@rts
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the end of the article.
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The psychology of pricing is a complicated subject, and
I'll be the first to admit that raising rates will not work
for everybody. Before you raise your rates, consider the
following:
- Can you offer something better or different than your
competition?
- Will the rest of your business support the "branding" of
a higher price? (i.e., Do you have a very
professional-looking site, excellent service, and other
elements that those who pay higher prices expect?)
- Will the new pricing structure allow you to make as
much, or more, money by selling fewer items at a higher
price rather than many items at a lower price?
It just might be that the reason your business is
struggling is that you're charging too little. Give some
serious thought to raising your rates. It just might be the
best thing you ever did!
**************
FREE Report: Amazingly Simple (Yet Super Powerful)
Ways To Skyrocket Your Sales And Build Your Business
Into A Tower of Profits! madmarketer.com/diane
**************
As part of our ongoing commitment to provide quality content, we
would like you to take a moment to rate this article on a five point
scale.
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......................................................................
..........................................
This week's TIP
Indenting Text
The <blockquote> tag enables you to indent your text from the left and right margins within your web page. however, it won't enable you to indent your text from just one side.
If you would like to indent your text from the left margin only, you can use the <ul> tag (the same tag you would use to create a bulleted list). the only difference is that you won't use the <li> tags with it. your text will be indented just as a bulleted list is, but there won't be any bullets.
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Here is an example using the <ul> tag without the <li> tags. I have created a border to signify a web page. Notice how the text is indented from the left margin only. Perhaps the best part is that this technique displays well on all major browsers and validates too! |
* Get these syndicated tip feeds for yourweb site, free. *
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can:
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PrePromote is freeware, which means you can download and use it forever
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Imagine your ad above!
For rates click HERE
Second Article10 CD Burning Tips For the Computer-Savvy
- The #1 thing you never want to do is put a CD-R or CD-RW in direct sunlight. Unlike CD-ROMs, CD-Rs and CD-RWs are light sensitive. In some tests, CD-Rs left out in the sun for as little as 2 hours, were completely erased of the music, data and photo files on the CD-Rs. This is especially important if you listen to CDs in your car. Putting a CD-R on the dashboard in the summertime, or in the direct sunlight can quickly destroy a CD.
- If you are going to burn a CD that you want to last for years, you need to use an archival quality CD. If you only have a short-term use in mind for the CDs you are burning, almost any CD you buy that works with your computer will be fine.
- In labeling a CD for a short-term use, almost anything will suffice. Paper labels are fine; but at times, a bit tricky to apply. If the paper labels are not applied perfectly, they can unbalance the CD, delaminate the CD, or even damage the CD Reader. However, if you want a CD to endure for years, your choices are more limited. The most cost-effective option is to use a CD Marker. There are several of these out on the market, and their inks have been specifically formulated for CD use. Markers with alcohol in their formula are not recommended, such as a permanent marker or even a ballpoint pen.
- When you burn a CD-R or CD-RW, always do a quality check to make sure it contains all the information you wanted burned onto the CD. Never assume that your CD Burner will always burn properly.
- Short-term storage of CD-Rs and CD-RWs is very forgiving; vinyl and paper sleeves are fine to use. For the long-term use, the only storage options I recommend are the Tyvek sleeves and Jewel Cases. Only these two media will be benign and chemically inert over time. Jewel cases are especially recommended because they protect against accidentally dropping as CD or something being dropped on a CD, which let’s face it, happened to us all.
- When mailing CDs, you need to be aware that the U.S. Post Office can easily damage CDs. With the new regulations as of July 2002, the U.S. Post Office now imposes a surcharge on all CDs. One possible way around this is to mail one or two CDs at time. Hand addressing mailers containing CDs is also likely to get them processed so that they are not sent through the OCR sorting machines where most of the damage happens. But, if you are sending a large number of CDs or you simply want to be sure that nothing happens to your CDs, you have to use a stiff cardboard mailer. These cost more than ordinary envelopes, but they do get the job done. I have a customer who mails religious CDs to 143 countries using one of my very rigid mailers, and as a result they all get through to his customers intact.
- Catalog your CDs as you burn them. By cataloging your CDs, you will know: when you burned your CDs, what was on your CDs, what program you used to burn your CDs, and anything else that will make your CDs easy to retrieve. It doesn’t take long to have so many CDs burned that you lose track of what’s what-trust me. That’s why we offer a number of CD Freeware and Shareware cataloging programs as part of a book we‘ve put together, that is available for download on our website.
- Always update any CD you’ve burned when you install a new version of any program you used to first create the CD. It doesn’t take long for a program "migrate" to the point where you cannot open a CD you burned with an earlier version.
- Be sensitive to the environment in which you store CDs. I had a customer from Boston write me when I was creating my book on CD handling and storage. He said he’d burned some music onto CDs and brought them onto his boat. Within something like 6 weeks the sea air had delaminated the CD. This could have been the fault of the CD brand he was using, however it points out the general principle that in order to keep data, music and photos files on CDs that you burn, you have to be aware that they should be stored in a reasonably stable environment, which includes a stable temperature and stable humidity levels. Extreme vibration is also recommended against.
- Finally, be aware of the "human error" factor. Human error can constitute for a high percentage of mistakes made when burning CDs. Be sure to always have a backup CD if the data on the CD is important. Also be sure to keep a copy of the original program used to create the CD.
**************
Mark Goggin is the owner of CD Sleeves.com. Mark has been in business for over 28 years, 5 of which have been with CD Sleeves.com. Mark is an expert in the area of storage, archival and burning of CDs. Because of his expertise, Mark has written articles for publications such as Target Magazine, Studio Photography & Design, Rangefinder, REPRO Report, amongst others. Mark loves to speak to those wanting more information on his articles at the following number: (818) 865-7942
**************
Download of the Week |
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ShortKeys Lite is a utility that allows you to set up replacement text or paragraphs for up to 35 user defined short keys. The program monitors the keyboard activity on a global nature and anytime a user defined keystroke combination is typed in, it will be updated with the replacement text. For Windows 9x/Me/NT/2000/XP.
It's pretty small too at only 615 KB.
ShortKeys Lite 1.7
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