Price anchoring technique
Lesson 71 from: Sales Mastery Bootcamp for Freelancers: Sell More ServicesScott Lancaster
Price anchoring technique
Lesson 71 from: Sales Mastery Bootcamp for Freelancers: Sell More ServicesScott Lancaster
Lesson Info
71. Price anchoring technique
Lessons
Getting over the fear of rejection
04:23 2Why you should leave a Zoom call after 3 minutes
04:24 3How to never chase clients ever again
04:13 4How not to feel nervous on sales calls
05:23 5How to not take it personal
05:46 6Slow & Steady vs Fast & Many
06:11 7The importance of being accountable
04:12 8The importance of being invested and excited
04:56Understanding the difference between features VS benefits
04:48 10Assignment - Mindset & Motivation segment
02:39 11Helpful Doctor Approach
03:58 12Breathing method for better sales calls
02:40 13Managing your clients’ expectations
07:41 14How to smartly discover your clients’ budget
05:29 15How to come across as more confident
09:18 16How to improve your pacing
04:19 17How to structure a sales call
09:28 18Ghost Opening Method
04:18 19High converting sales funnel
09:17 20Shock Method
04:41 21The Halo Effect
03:04 22Organizing portfolio to win more clients
03:23 23Build trust using science
02:42 24Showing calendar during call
03:57 25Building unbreakable rapport
04:33 26Sharing relevant stories
02:44 27Using numbers to make prices make sense
03:21 28Using urgency and scarcity
04:38 29The parrot and captain technique
03:31 30Using FOMO
02:51 31The power of mirroring
04:38 32Always put your clients’ needs first
03:34 33Assignment for sales techniques
01:53 34The one who cares least wins
03:27 35How to price your services
06:38 36Handling clients who are bullying you
04:11 37Connecting with clients’ dreams
04:07 38How to use trial closes and assumptive selling
03:17 39How to overcome challenging objections
08:20 40When to mention pricing
03:59 41Assignment for negotiation techniques
01:22 42How to get video testimonials for your website
03:53 43Setting up automated Calendly meetings
02:35 44How to strategically improve your website using Hotjar
02:23 45How to get more clients
05:02 46How to get clients to pay more
04:34 47Do you need to be liked as a salesperson?
02:56 483 reasons why freelancers lose sales
05:27 49What makes a good vs bad salesperson
02:44 50How many options should you give clients?
01:32 51How to know when a client just wants a discount
02:40 52How to know when a client is interested in your service
02:00 53When a client doesn't reply
03:28 54How to practice your sales techniques
03:04 55How to ask high-quality questions
02:48 56Which social media platform is best for getting clients
03:54 57Which social proof is best for winning new clients
03:27 58How I sold a 10k website with one single email
02:58 59How to manage prospects and follow-ups
04:14 60What to do when you screw up on a project
02:38 61How to handle a client who wants a refund
04:10 62When a client wants lots of revisions
03:32 63How to spot a nightmare client
02:17 64How long should you small talk?
01:07 65Should you spend time creating proposals?
01:35 66How to get a sale without being too pushy
01:22 67What to do when a client says you are too expensive
03:46 68Assignment - common questions
01:32 69Realizing who your most valuable customer is
03:32 70How to use discounts to charge more
01:53 71Price anchoring technique
02:43 72Creating product flow and product expansion
02:34 73How to win client loyalty for the long term
01:09 74Last assignment project
04:14Lesson Info
Price anchoring technique
OK. So price anchoring is super simple but highly effective and luxury brands like Dior Burberry and Louis Vuitton. They all use this tactic all the time and including supermarkets and other brands as well that actually know what they're doing. Now, what they do is they will place a product which is quite expensive next to another product, which is also quite expensive but far more expensive. OK? Now what this does is if this mouse is $100 which it probably is because it's apple, but this keyboard is $115 they both kind of look quite expensive. I mean, it could be it could be 2000 whatever. But basically what I'm trying to say is they're both about the same amount. But if I put this mouse next to another mouse, keyboard, whatever and this keyboard's $4000 but this one's only $100 all of a sudden this looks like far better value. Now how that works is when you are comparing the two and the environment, you're seeing them both as being roughly about the same. So you only have one thing ...
to compare it with and you're comparing it and they're both kind of pretty expensive in comparison to what you expect to pay for a mouse and a keyboard or whatever. Now, if you put it into the context of Louis Vuitton, what they'll do is they'll put, you know, a bag which is $40,000 next to another bag, which is $1000. Now, that $1000 bag looks far better value now than if it was placed next to another bag, which was only $2000. So do you get what I'm trying to say? And we use this in our business all the time and it's a really, really effective technique. So what we'll do is we'll have three packages for our naming packages. One is $1000.01 is 1700 then one is 2495. And what that does is it basically makes the middle package, which is the package that we actually want people to buy far more retract because you might as well pay the extra $700 to get the middle package because the next step up is massive. I think at some point, we actually have the premium package of something stupid like $5000 or something, which was just far, far too much. And it was a little bit unrealistic, but you kind of get the idea fiddle around with pricing but make sure that your top package, the premium package is always next to the package that you actually want people to buy and make sure that this particular package is significantly higher. I'd say times your middle package by seven or 10, choose one anywhere in between. And that will give you an incredible amount of leverage when it comes to showcasing your packages declines. If you don't want to try this, you're missing out. Trust me, try it for a little while, 3 to 6 months and you'll see massive success. I promise you. Anyway. Thank you so much for your time and I'll see you in the next lesson.