You’ve been making and selling doodads for a while now and you have your sell price all figured out. You know exactly what the supplies cost and you know how long it takes you to make one. You know all of the expenses to make doodads and people are buying them up at your price point. Everyone is happy.
THEN one of your suppliers raises their prices on a supply you use. You do your research and find that the price on that item has gone up across the board. Everyone is charging the same, if not more, for said supply.
There are ways you can raise your prices that take the sting out of it for your customers.
First, if you’ve been selling your doodads for a while now and they are popular, unique and sought after you can probably raise the price just because your brand has become well known. Are people dying to get their hands on your work? Are you a nationally known artist or even a locally well-known artist? You can probably get away with raising your prices and people will still clamor for your work.
What? You don’t live in THAT world just yet? Here are some other ideas.
Use “Handmade” in your marketing, especially online. Thousands of people are searching for handmade gifts online, just look at how well Etsy is growing! Make sure that your website, marketing materials, and signage lets shoppers know your goods are handmade.
Show them the quality – Beautiful objects or goods crafted by hand convey a feeling that just isn’t found in mass produced goods. High quality workmanship does the marketing for you.
Show them the love – Be sure that shoppers can see how much you love your work by the way you talk about it, handle it, photograph it etc. It might be a little hard if you’ve looked at doodads for eons now but try to look at them with fresh, new eyes. What do you LOVE about your doodads? Make sure to mention it in your item descriptions or when you talk with shoppers face to face.
Call a diamond a diamond – if you use luxurious or high end materials in your doodads don’t be afraid to name them. If you use diamonds and not cubic zirconia in your jewelry be sure to let buyers know. If you can, even talk about how fabulous your particular diamonds are. If you weave textiles with 100% local cotton change the descriptions on your listings or on your price tags that tell customers they are buying 100% locally grown cotton. Shoppers will understand that luxury materials demand a higher price tag.
Go Green – If you produce your doodads using green processes or green materials (recycled, upcycled, eco-friendly) be sure to let your customers know. Customers are becoming more and more concerned about environmental impact and are willing to pay more for items produced or using green materials.
Packaging as eye candy – Does the packaging of your doodads leave something to be desired? Up your game. Adding colorful tissue, pretty boxes, ribbon or wrapping can convey worth and value to people shopping your products. Even if you are selling online you can take a photo of your doodads all wrapped up for shipment and show shoppers your attention to that detail. It makes sense to spend another $5 on packaging if you can raise the price of your doodad another $20.
I hope these ideas and suggestions have helped you to see how you can raise your prices by conveying added value to shoppers.
What other ideas and suggestions do you have? Be sure to share them in the comments below.
By: Vicki O’Dell, The Creative Goddess