Our brains are wired to interact. When we hear a question, we feel the need to answer it. So we stop and think about the question for a split second (or more).
This is why it is a lot more powerful to ask a question than stating a fact if you want people to do something.
For instance, a statement like “please swipe your loyalty card” will provide less returns than “have you swiped your loyalty card?”
Ask questions, get results!
When interacting with the public, you answer their questions, then you usually use a call to action like “maybe you want to try it on?” or “should I get the box for you?”
At that stage you need to resist the urge of carrying on talking. Simply stay quiet and let the customer think. They know it is their turn to say something but sometimes they need a few seconds to make a decision.
Various experiments have been made over the years regarding ending prices in 9 and whether it increases sales.
A 2003 study shows clearly it is the case however it goes one step further and proves it can even increase the selling price.
Researchers tested selling a piece of clothing for $34, $39 and $44. The winner was $39 even if there was a cheaper price of $34 for the same item.
You source a product, you develop a marketing approach, you find a customer, you sell the product.
Next you get 10 times the same product, use the same marketing approach, find 10 customers and sell 10 products.
At this stage it is easy to believe the next step to be: Find a new product.
It is not.
You need to do more of the same unless your marketing has already reached 100% of the potential customers.
Have you reached all your prospects yet? If not, carry on as it is faster, cheaper and more efficient: every time you sell another one of the same, you get better at it.
On the Internet, the next website in only one click away.
Give a reason for your customers to shop with you: provide more pictures than your competitors.
Do not use only the official product shots, take your own. Show the packaging and the content. The more pictures you have, the happier your customers.
Check at the door of your shop and count how people are coming in. Now count how many of them have bought something before leaving.
Which number is the one that matters?
Do the same thing on your website: check the number of visitors (or sessions) and check the number of sales.
Which number do you consult daily? Is your webmaster still boasting about your daily visitors number?
Customers are usually shy but sometimes they take the courage to ask whether you carry a certain item.
It may be tempting to act on those requests and quietly extend your ranges.
However you need to be careful and stay focused.
Is there a real demand for those items or was it just a random request?
It is easy to assume that every shop that sells the same items as you is a competitor.
However, they are usually not.
The only ones you are competing against are the ones targeting the same customers in the same way.
Once you realise it, you can reduce the number of your competitors by selling differently.
You buy an item for 10 including shipping.
Typical retail margin in your industry is 50%.
So you should sell it for 15.
Wrong.
The only thing that matters is how much it is worth to your customers. If they are willing to pay 20 or 25 for it, why sell cheaper unless you have a reason to?
Always applying a multiplier is not a pricing strategy, it is a primary school maths question.
According to retail experts, the colours used on labels can influence customers.
Studies seem to show that labels written in red ink trigger an urgency state with male shoppers. It means they are more likely to act and buy the product immediately.
There does not seem to have a colour that is providing similar effects on women.