How to Outsell ALL Your Competitors Without Reducing Your Price
No matter what you sell, you can always outsell your competitors.
There are hundreds of books on copywriting. Some are classics. Several others keep coming out almost every other week.
In 2015 September, I wrote an eBook on copywriting. I named it Copy that Sells, months before Ray Edwards used the same name for his book (but hey, he’s the popular one here!).
I only marketed it via BBM, WhatsApp and my personal Facebook profile. And I was able to sell dozens of copies the following month. That was what paid my first rent.
I planned to relaunch it big time – with ads and funnels and all…but I never did. Till date.
Later, I asked the people that bought the eBook to tell me why they bought it. I got several nice replies, but one stood out: The dude said he felt the package was too cheap for the value promised.
Wow, really? An eBook on copywriting that cost over $35 was “too cheap”?
But really…he was right: it was actually too cheap. Or rather, I made it too cheap.
Before I tell you why or how, let me give you another instance:
Choosing expensive over cheap
A lady once told us on phone that she saw the soap we were selling on BeauCrest at two for $30 on a popular online marketplace at a price more than 3x cheaper than ours. Well, we didn’t because of that give her any discounts, and yet she bought the soap from us.
And that’s not an isolated case.
Okay, let me give you one more example that would give you an idea where I’m heading.
When we decided to pivot from selling imported skincare products to selling organic products, we launched our first organic soap for about same $30, but sales were kinda poor.
So we decided to bundle the soap with an organic moisturizer, but increased the price to about $43, and sales came back up. We later still sold our soap at about $48 and profits were still good.
I’ve been doing this for as long as over 5 years, and I’m getting better at it, but the secret is: the best way to beat your competitors, hands down, is to convert your product/service into an irresistible offer.
Unfortunately, a lot of people confuse products or services with offers.
Perhaps the usage: “I offer car rental services” or “I offer building materials for sale” is what’s causing the confusion…
But when it comes to persuasion (aka sales), your product is just your product, while an offer is a combination of your product/service AND other things that sweeten the deal…including bonuses…and even other things like payment plans, discounts, free trial, guarantees, etc.
This is a concept I, fortunately, grasped earlier in my training under various legends in AWAI as a direct-response copywriter. And this was why I overpromised (and overdelivered) in my first ever product. (Now I wish I didn’t stop selling it!)
This concept has become even better and more practical for me when I entered into the ClickFunnels world earlier this year. Russell Brunson teaches that your offer MUST be, at least, 10x the value of the money you’re asking from your prospect.
That is, if you want to sell your product or service for $100, your offer must be worth at least $1,000.
“But Oludami, I sell female wristwatches/cars/houses/lands/insurance/legal services/etc., so how do I make it 10x the value of the asking price?”
How to increase the perceived value of your product/service
Well, two things:
- It doesn’t have to be actual value, but perceived value. You see those SALE or PROMOS all over the internet? Most of them still end up making profits when you buy at that “reduced” price. The “original” value they placed on it is usually more of perceived value, and not actual value. This works well because you can put whatever price you like on what you sell.
- Where the above isn’t enough or practicable (maybe you sell a commodity – something that has a fixed price that everyone sells it), while there are several ways, the best way around this is something I learnt recently from Steve Larson: every solution creates a new set of problems.
Simply ask yourself; “what new problem would my product create for the buyer?” Once you find an answer, provide new solutions to the new problems and they can be your bonuses.
So let’s take a wristwatch for example: when someone buys a new wristwatch, what are the new potential problems that come with owning a new wristwatch?
Firstly, they might be worried about how long the battery would last. Can you offer extra batteries as free bonus?
They might also be worried about scratches. What if you offer an external glossy coat on the steel brands or a little screen protector, or even a case (as in the case of smartwatches) as bonus?
And what if you offer for free a small box in which they can keep their watch after they put it off? How about a small soft napkin for wiping the watch clean at the end of the day? (Both of which I once did.)
As for band/clasp durability problem, what if you offer free replacement chain or leather bands for the watch?
They might want a matching bracelet to look even better when dressed. What if you offer that as bonus? (Something I once did!)
And what if you offer free shipping, on top of the 20 percent discount you already gave on the watch? (Something I also did. See below)
Or, if it’s a luxury watch, what if you offer to service the watch engine for free every two years?
Some of these examples might seem extreme, but if you bundle some of these with your watch, don’t you think you can increase the perceived value to 10x your asking price and even sell it higher than your competitors?
Applicable to ALL products/service
Do you now see how this can apply to ANY product or service?
Real estate agents can offer investment consultation (could be a thing. I formed “education consultation” for my school clients!), deep discounts, easy payment plans and free cleaning before the buyer moves in.
Schools can offer free uniforms for first-timers or even free school bus pick-up and drop-off. A school in my area offered free education the first year they launched — yes, zero school fees, including uniforms — and the following year, the school remained full and everybody started paying.
Our soap regulates production of oil on the skin, so it might make people’s skins feel dry, and that’s why it made sense to bundle it with a moisturizer – even with the free shipping and other skincare resources (videos and eBooks) that we add to the deal!
The only limit to creating an irresistible offer is the one in your mind!
If you can think out of the box, then you can outsell all your competitors, combined, even when you’re not the cheapest.
Making your product/service have a perceived value that is 10x your asking price is the best way to make your product “cheap”…not by reducing the price.
Only losers fight the pricing war. My mentor, Akin Alabi, author of Small Business, Big Money, put that into my mind, and it saved me early in my skincare business (when we weren’t making any sales).
Don’t be a loser.
Be the one that offers unbelievable value that is worth 10x the price she’s asking. You wouldn’t need to break bank to do that…just a little bit of creativity.
Then sit back and watch how you blow past the competition!
Creating an irresistible offer is one of the major pillars of my business growth system, the Septuplar Sales System, and it goes beyond just bundling more products with your product or service — that’s just one of the steps.
If you need help with creating an irresistible offer for your business, plus ALL the other 7 pillars that will consistently bring your business a lot of sales that are profitable, then send me an email on [email protected]
I wish you the very best in your entrepreneurial journey.
PS: You know what’s up: drop your thoughts or questions in the comments; let’s take this discussion further!
Meet the Author
Hello! I’m Oludami Yomi-Alliyu. I'm on a mission to help driven entrepreneurs grow their business and attain freedom through consistent, profitable sales. This is why I created the Septuplar Sales System, out of my experience turning around my business failure and now consistently getting returns of over 5x my ad spend.Learn more