How to Increase Your Prices: Yes-Yes Factor

You’re probably moaning about how you can’t increase prices.
The Yes-Yes is a systematic way to makes prices work for you. We’ve tested this Yes-Yes Factor across products and services for the past 6 years. It doesn’t matter what the price (and we’ve tested products/services from $50-$10,000): It just works.

And the only reason it won’t work, is because you’re too lazy to try it. Or full of excuses. Well, read on, because your excuses will be demolished as you read the rest of this article.

Excuse 1: I don’t get swayed by bonuses

The crux of the Yes-Yes Factor is the understanding of bonuses. But surely you get annoyed with bonuses. You hate how every one seems to throw bonuses at you, and you’re not the type to be swayed by bonuses. And you don’t think your customers will be swayed either.

Well, you are not your customer.
And the Yes-Yes Factor doesn’t expect you to do the bonus-barrage! What you have to focus on is the factor of “desired bonus (see video for details).” This isn’t your truckload of bonuses. It’s a specific bonus or bonuses (not too many) that are clearly designed to get the customer to choose the Premium option. In fact, the bonus is designed before the product/service itself.

And that’s only part of the story

While the Yes-Yes Factor works only 95%-98% of the time, even that miniscule difference of 2% goes away depending on what’s being bought. It may work only  98% at one level e.g. at the first level of say, getting the Brain Audit. But it works 100% for the Article Writing Course, or the Protege or other programs, where getting the bonus (and the Premium) makes perfect sense, and is very good value for money.

Excuse No. 2: Where’s the research?
The point is: Research makes no difference, because even if the research exists, the ‘research’ may not appeal to your market, your product and not work in specific conditions. You can do everything I’ve said and still get it wrong, because every detail is not followed.

Besides we made this Yes-Yes Factor up (It’s a shorter,  more efficient version of the three-choice grid you often see). The only people who ever do yes-yes are those who’ve been exposed to Psychotactics. I don’t want to hoist this concept on you. I know it works because we’ve tried it repeatedly for six years. And those clients who’ve used it get the benefit. And those who don’t, don’t.

I want to be blunt about this. Because I want you to try it.
And then you can write your own research paper in future :)

Now watch the video :)

Watch Pricing: How the Yes-Yes Factor Helps Increase Prices in How to Videos  |  View More Free Videos Online at Veoh.com


Comments

  1. Clay Westerlund says

    Sean,
    Idea is a no brainer, I only have one product that I distribute (energy drink) and so if I understand correctly I need to acquire another item for less than the price increase. Hmmm easier said than done, but I’ll work on it.
    Cheers!

  2. says

    nd so if I understand correctly I need to acquire another item for less than the price increase.

    No you don’t need to acquire another product (if I’m understanding properly). You need a bonus. And the bonus doesn’t need to be a product. It could be a meeting with an actor, or chance to win an iPod, or anything you can think of.

  3. says

    Sean,

    Having studied this with you over the course of almost 2 years, it’s really starting to get clear.

    Your presentation really lays out everything needed to implement the yes-yes factor.

    Great presentation.

    Did you do this on your MAC or your PC?

    regards,

    Perry

  4. says

    Both Mac and PC.
    First built it in Keynote. Exported it as video file.
    Opened it in Camtasia, and then used the power of Camtasia to do auto-zooms etc. When Camtasia comes to the Mac, it will be Mac-only ;)

  5. says

    Is the Yes-Yes factor for service industries? I have a new client and I tried to offer a Basic & Premium option. They still took the Basic and asked for a few of the Premium value-add options without charging. Ick. If people have a budget for what they want to spend, they still want the Basic (… but at least you still get them to buy). Would you be willing to look at the Yes-Yes options I gave them? Maybe I went wrong somewhere with your formula.

  6. says

    Yes, it will work for most things. It does have limitations (e.g. you can’t increase the price of coffee forever), but in service and products, there is an optimum price.

    If your client’s customers are choosing the regular, you’ve done something wrong. Yes, I’d be willing to have a look.

  7. says

    Sean, the desirable bonus is your adorable cartoons added to shrewd marketing & psychological insights about consumers clearly mapped out and explained by you.

    Where do I remit payment for this premium option you’ve provided here? A clear win-win to learn from you.
    (Shay Shay.)

Trackbacks

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>