My company, Gobloc Insulting, recently received a new client who stated their desire to expand their retail businesses.
Therefore we came out with a comprehensive proposal that uses confusing jargons and over-hyped terms to convince (fool) them that they should heed our advice (and pay us).
Here is 1 part of the proposal that would be beneficial to my beloved readers- it's on how to increase sales in retail businesses, based on the common trade practices around.
Be prepared for over-the-top demand
Limited stock/time only
Displaying prominently the message that any offer such as free gifts or price reduction is for a very limited time, or buyer, will create a sense of paranoia among customers to rush in and buy quickly. If you have billions of stocks left to clear, it will be more helpful if you state the following lines in your ads:
205 units left
Out of stock - Bait and Switch - Upselling
Promoting something that is ridiculously-priced, then telling your customer that the item is out of stock (due to high demand) is a good way to gain prospects. Use the opportunity to sell something more expensive with better margin. Don't be disappointed if some of them refuse to buy. The margin should be enough to consider the campaign a success.
.99 price points
One of the most consistent, proven yet simple technique to earn sales. You heard millions of people expressing their discontent of such psychological pricing tactic, but the fact that it has been used for decades proves that customers are not that aware of how much 0.01 cent means.
Offering freebies or discounts even before they start deciding to buy your product is a good way to tie them in. Customers will feel obliged to see through the deal because of:
- The pride because you consider him a worthy prospect
- The guilt that you see him as a confirmed buyer ("Must be something I did")
- The lack of guts to say "No" and disappoint/anger you
If you're locked into a situation where your customer is very talented in negotiating a price, always mention that
- You're not the boss
- The price is set by your boss
- You'll get fired if the boss knows you're reducing the selling price
When you're giving a customer a discount (because of price negotiations), always close the deal with "I'm giving this only to you because you seem like a good customer" and follow with "Don't tell anybody else that I gave you this". Customers will be flattered and hallucinate that he/she is getting a preferential treatment from your business. They'll come again.
Contrary to what you hear that some (even you yourself) often say that they're not as gullible as before, and often quick to detect any cliche that might trick them, these selling points still work.
The people you hear disclosing their immunity against such tactics are the wise consumers- wise enough to make their voice heard. But you won't hear consumers who brag about how they like being fooled by these tactics. The fact that so many businesses still enjoy revenues from these tactics means that:
- There is a substantial number of gullible consumers
- And, people who voice their opinion are always the minority
- Thus, silent majority applies
- Therefore, majority of consumers are gullible
- Which, confirms these tactics work