We recently shared a low-ticket product in the Product Research Lab group.
It was a Universal Dispenser Pump. (Here’s the Super-Ali link).
A group member raised the concern that He isn’t seeing more than $10 profit margin.
There are multiple ways to increase your profit margin but the easiest in my opinion is to sell more units.
But He wasn’t convinced that somebody needs to buy more than one pump so I asked Honey Syed for some help.
And He held nothing back. Here’s how you can sell multiple units of a low-ticket product and increase your profit margin.
Focus on the “why”, not the “how”
You should be asking, why will someone buy more than one unit?
These are a few reasons I know people buy multiple units for.
- Different use-cases: Do they only need it for sauce or they can use it for oil too?
- Occasion/Location: Do they only need it at their house or they could use it at a tailgate party too?
- Gift: Do they only need it for themselves or they could also gift it to somebody?
Put yourself in their shoes and keep asking “Why”?
The goal isn’t to sell more pumps, the goal is to add more value to their life.
How to find their reasons for buying multiple units?
If you want to know more reasons, talk to your buyers.
Ask the buyers who are buying multiple units, “why”?
You can automate this by setting up email automation that goes out to people who bought multiple units.
Make sure to sound appreciative for their purchase and curious about their “why” in your automated email.
3 reasons why people buy any product?
Since we are discovering “why”, you should also look into the most important why?
why will someone buy this pump?
Most people buy products for a few reasons:
- To save time.
- To save money.
- To save energy/effort.
Time and money are the two biggest reasons so I will give you examples for these two.
Saves time and energy: You don’t need to shake and stir your bottle to get the sauce. Just press the pump and you are done.
Saves money: You will get accurate 4cc output on every press so your bottle will last longer.
Hope this helps you sell not just this product but all the products that you test in the future.
Make “why” your friend.