In telemarketing, the impression of a good product may not be enough to capture the buyer’s interest. Having a good and negotiable price can affect the buying decision of the consumer. It impacts as well the value of a good product. If the price is too low then, it delivers a hesitation to the buyer. Finding the right price to attach to a product or service is an art. The perfect combination of knowing the customer’s behavior in viewing prices ending in nine can make a good negotiation in telemarketing.
Not only in telemarketing has it existed the power of nine in pricing. You can see its pattern in gasoline price, groceries, electricity and advertisement in particular. Frequently, our brain is programmed to decide fast and efficiently. This way, we are more likely to view our decision making by taking a fast view in prices.
In a research done in MIT, it shows that buyers are more likely to buy products that ends in $39 rather than $44 and $34. There are more sold items from the price $39 rather than the cheaper $34. It is suggested that selling price that ends in 9 can beat out even the original price. It was explained that out mind sees more the range of the price in deciding factor more than the actual price itself.
This power in nine also has been effective when special sales come in. The notion of sales and limited stocks will make the buying process circulates rapidly. It does its job as the consumer will see it’s a better pricing.
When this happens, that is when telemarketing strikes best. Telemarketers should know when customer has already been nurtured with pricing and influenced their buying perspectives. Negotiation comes in telemarketers in pursuit if close sales.
It is suggested that upon having multi-channel marketing into the lead nurturing plan, pricing digits should be considered.