Nearly every infomercial you see includes the four words, “But wait… there’s more!”
This is a selling technique that you’ve seen many times, but probably not realized that it can increase sales by as much as 20-fold.
If you do understand the psychological principles behind this selling technique, you can use it strategically in your business to make more sales. Yes, even if you don’t use infomercials.
In this video, filmed at the Titanium Mastermind in the Bahamas, Kevin Harrington explains why it pays to say, “But wait… there’s more!”
THE PRICE GAME AND THE ITEM GAME
Mel Arthur was the number 1 salesman on Home Shopping Network for 8 years.
Kevin Harrington asked him what were his most powerful techniques, and he went on to explain how he used the “price game” and the “item game.”
For example, if he was selling jewelry, he would start off by taking a ruby and putting it on the counter. He’d sell the features of that ruby for 6 to 7 minutes and price it at $99.
In those 6 to 7 minutes, perhaps 1,000 people would order the ruby for $99.
Then, he’d say, “But wait… there’s more!” He’d throw in 4 more items – emeralds, amethysts, sapphires – for no additional cost. This is what he calls the “item game.”
If anyone thought just the single ruby for $99 was a good deal, they’re now learning that they can get 5 stones for that same price. This is when the phone lines really start ringing.
Several minutes later, Mel Arthur would again say, “But wait… there’s more!”
Then, he’d launch into the “price game.” In other words, he’d drop the price. He’d announce that you’re not paying $99 for those 5 stones, but just $59.
WHY THIS WORKS
If Mel Arthur had said at the beginning of the infomercial that he was offering 5 stones for $59, he’d maybe have sold 1,000 orders.
But because he staggered the different elements of the offer, introducing them one by one, he may have been able to sell 25,000 orders.
He started off with a single stone for $99, added more items for the same price, and then dropped the price. At each new revelation, the customers realize what a great deal they’re getting.
This is a powerful way to sell that you should use in your ads. Don’t reveal the whole offer at once. Reveal it piece by piece, making it a better and better offer each time.
The MOBE Gold Masterclass goes into more depth on this topic. It will show you how to find customers, sell to them and build a consistently profitable business using a Customer Acquisition Process. To learn more about the Gold Masterclass, click HERE.