I will pay more
for a product
if there’s free shipping.
Often I’ll pay more
than what the shipping costs
would be.
It makes no sense.
I admit it.
But that’s how I think
and
that’s how many other people think.
What does this mean
for you, as a business owner?
Consider increasing
the price of your product
to cover the cost
of shipping
(to mainland USA
or major cities
or…everywhere in a certain country)
and
then promote free shipping.
Many seed suppliers
selling to gardeners
are now specializing in
heirloom seeds.
The seeds from an heirloom plant
produce plants
that are nearly identical
to the parent plant.
A gardener could buy
one package of heirloom seeds
and never buy
another package of seeds.
So why would seed suppliers
offer heirloom seeds?
They offer heirloom seeds
because they know
very few gardeners
will actually exert the effort
to save those seeds.
The average gardener will buy seeds
from them
again and again.
But seed suppliers also know
these gardeners will happily pay extra
to have the option
to save seeds.
And gardeners also perceive
heirloom seeds
as being higher quality.
Customers will often pay more
for a product option
they are unlikely to ever use.
Offer them
that option.
And charge them extra
for it.
Should you wash
your produce thoroughly
before selling it
at a farmers’ market?
Logic would say
you should.
But humans
aren’t logical beings.
There was a study
by the National Farmers’ Market
Association
that found
consumers were willing to pay
25% more for the exact same produce
if it came dirty.
Why?
Because they feel dirty produce
is ‘proof’
it came directly
from the farm.
Don’t wash
your produce
before selling it
at a farmers’ market.
I gave my readers
(customers)
5 months warning
about the increase
in prices for my Romance Novels.
This did a couple of things.
It prepared the readers
mentally for the price increase.
They had time
to grumble about it
(which they, surprisingly,
didn’t do with me),
to get angry or upset
and then to calm down
before my next book (product) released.
It also gave my readers
an opportunity
to buy the existing books
at the lower price.
That bump up of sales
at the end of the year
was VERY much welcomed.
And it relayed
that I was being open
and honest with them.
Readers (customers) might not
take any action
upon hearing about
a price increase
but they like knowing about it
in advance.
Consider giving your customers
notice
of price increases.
In 2023,
for the first time ever,
I’m increasing
the prices
of my Romance Novels.
I received
NO pushback
from readers
on this price increase.
And I’ve seen
NO decrease in pre-orders
for my 2023 releases.
Why didn’t I receive
pushback?
2022 was the year
almost every business
increased their prices.
That included
publishers and writers.
I was one of the few
exceptions.
Readers expect me
to increase my prices.
And readers, being human,
also like being right.
Increasing my prices
makes them happy.
Increasing your prices,
if you haven’t increased them
in years,
might make your customers happy also.
Your customers are likely
expecting the price increases.
Don’t disappoint them.
I was planning to increase
the pricing
for my Romance Novels.
I was also contemplating
not crafting
the free ‘thank you’ short story
I usually give to readers (customers)
every December.
I can’t do both,
not in the same year,
not unless I want
a LOT of
customer complaints
and a decrease
in sales.
I’ve chosen to increase
pricing.
If we increase pricing
while decreasing the quantity
of product/services
we give customers,
customers WILL
notice this.
They won’t be happy.
Unhappy customers
often stop buying
products/services.
Do one or the other,
not both.