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In This Issue:


Tip of the Week 
TheSolutionMovie.com
New Article for Members
Have a topic idea? Let us know 

Tip of the Week: Enhancing the Value of a Lower Price- If your
service or product is substantially the same as your competitor's,
but is lower priced, it's natural to assume that your customer will
recognize the value of the savings and choose your product.

 I just came across a study published in the Journal of Consumer
Research entitled: "Opportunity Cost Neglect" that says
differently. They found that consumers don't often take into
account the "opportunity cost" of the savings, meaning what else
they can purchase with the money saved. 

An example that the authors used was that of an IKEA print ad that
appeared in Singapore earlier this year. The ad featured 2 images:
the image on the left showed an unhappy woman standing in front of
a fancy cabinet containing a single pair of shoes. The caption
underneath read, "Customized cabinet ($1670) + 1 pair of shoes
($30) = $1700. The image on the right showed a woman standing in
front of a less fancy IKEA cabinet filled with shoes. The caption
underneath showed, that the cabinet's price of ($245) + 48 pairs of
shoes ($1440) was still less than the $1700 from the other image.

The study also discovered that it wasn't even necessary to point
out specific things the customer might purchase with their savings.
Simply reminding them that the cheaper option allows them to spend
the savings on something else can be enough.

The point is that the competitive advantage you have by offering a
less expensive product or service may not be enough to win the
sale. It should be enhanced by pointing out the "opportunity costs"
of the savings to your customer.

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TheSolutionMovie.com

Check out TheSolutionMovie.com, our 90 second video and please
share the movie with anyone you feel might benefit (web-owners,
bloggers, authors, job seekers, speakers and others) who would like
to achieve greater success.  

Watch it again to affirm your own decision to improve your website
and online marketing efforts. 
 
In the near future we'll be posting articles on the IOP site which
show how you can make (or have made) a movie like this for your
site too.
 
*******

1 New Article for Members

Google Analytics: How to Set Up Google Analytics on Your Site- 
This article/video shows you how to place Google Analytics code on
your website so you can begin monitoring your website's ability to
attract visitors and what impacts your online marketing efforts
have on increasing your visitors...Login to read more


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IOP Tweets of the Week 
 
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Have a topic idea?
 
The primary reason that Karl and I've together this website is to
help you make more money. We know the things that you need to know,
but we also want to hear about the topics that are of special
importance to you.
 
Email me with your topic ideas at:
 
rick@increaseonlineprofits.com
 
*******

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Using Evernote Tool 



Best Wishes,
 

Rick Henkin and Karl Kasca
 

IncreaseOnlineProfits.com 
Attract More Visitors. Create More Customers.

 
Please visit our blogs at:

AttractMoreVisitorsblog.com
CreateMoreCustomersblog.com

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