Insider Marketing Tips

Would you believe me if I told you that many times the solution to skyrocket sales on a slow selling digital product or physical product is to raise the price? When I first started to market online, I didn’t truly understand this concept. I used to ask myself why customers would actually want to pay more for a product. It just seemed like it was a myth straight out of bizarro world.

Of course this was before I learned about “perceived value”. A higher priced product is usually perceived to have a more significant value in the customer’s mind. Now that I have been marketing online for well over ten years, I have seen this phenomenon in action countless times.

A famous Internet marketer I once knew put this theory to the ultimate test by first giving away an ebook for several months, then he turned around and sold it for $47 a pop. Amazingly, he sold thousands of copies and without a doubt proved his point; perceived value is an extremely critical psychological tool.

The kicker is, while he got a few positive comments about his ebook while he was giving it away, he was absolutely flooded with positive reviews when he began selling it. This is because of the perception that since the ebook was free, the content didn’t hold any real value. However, when people had to pay for it, the content became much more valuable to them.

It was comical, but true.

This is why you should never be afraid to raise the price of your products, especially if one of them isn’t selling well. This not only can boost sales, but also increases your profit margins substantially. I have done this many times and it works like a charm, even though it isn’t always successful. If you find sales are dropping off significantly after the price increase, then nothing is stopping you from lowering the price again. If sales remain the same, you will have increased your profit margins. Do you see how powerful this concept can be?

If you are afraid to test your pricing points, you will never reap the substantial rewards that can come with it. Never be afraid to take action.

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This is one of my best internet marketing tips I have ever shared, so pay close attention! Back in the day, many online marketers used to buy expired domains to piggyback off their traffic. However, this strategy is no longer effective and has now been put on the long list of Internet marketing myths.

Google has now claimed that when an expired domain changes hands, all backlinks are reset and the domain’s PR is set back to zero. Of course there are still a number of marketers who swear this strategy still works. I can tell you from my experience that if you are in the practice of buying expired domains for their SEO value, it is no longer effective.

An alternative to this method is to buy a domain before it expires. This is usually more expensive, but Google is said to not frown on this practice. This means of course that the domain you purchase will retain its backlinks and PR rank. You will then benefit from the traffic and established page rank for this domain.

Buying domains that are already established can be a very effective way to get a big head start in any niche. Some people may scoff at paying upwards of $1000 or more for an established domain, but when you consider the time and money it takes to build notable traffic and search engine ranks, many of these domains can be downright bargains.

Of course you must do your due diligence before buying any domain. Be sure that the site’s SEO and traffic value is in line with the cost and that it isn’t being linked to from any bad neighborhoods. This could save you from many unexpected surprises in the future!

There are thousands of marketers engaging in this practice of buying established domains on a daily basis and reaping the rewards. Why shouldn’t you be one of them?