In the retail world, price only stands for the price of a product. But in the marketing world price stands for so much more. Because once your brand is established and your customer is interested in purchasing your product or service then price has as much to do with the ultimate purchase decision as anything.
The intuitive logic is that customers will always buy at a lower price. But don’t you believe this old assumption because it simply is not true.
The value of many products actually increases with an increasing price. Consultants, luxury goods, and engagement rings are all examples of this seemingly backward pricing phenomenon.
Imagine the disaster when the romantic but frugal boyfriend wheels in a 55-gallon drum on a hand truck. “I know you love that fancy French perfume honey, but this smells exactly the same and now you’ll have enough for a lifetime.” If our hapless suitor presented his gift on the evening of Valentine’s Day we can just imagine who he’ll be with later that night — nobody.
By establishing a powerful brand that is laser-focused on your buyer you can actually use pricing — and higher pricing — to make your product more desirable than the competition. And with the extra money you earn you’ll be able to put more time, effort, and resources into doing an even better job for your customer which creates a win-win-win situation for everybody.
To learn more about how to do this and so many more techniques, read All About Them, my new book on how to grow your business by focusing on others.
And if you order before midnight tonight, you can get your choice of some great deals.
Be a Friend. Order 3 copies of All About Them and I’ll send you Brandisms, my 378-page e-book of branding tips and advice with one big idea for every single day of the year. (Additional value: $60)
Be a Big Deal. Order 10 copies of All About Them and you’ll get Brandisms plus my 170-page Personal Branding Implementation Blueprint. (Additional value: $960)
Be a Mensch. Order 25 copies and you’ll get the two e-books plus a 30-minute consulting call. (Additional value: $1,435)
Be a Hero. Order 100 copies and you’ll get the two e-books plus a one-hour consulting call and a one-hour training webinar for your team. (Additional value: $6,435)
Be a Superhero. Order 1,000 copies and I will come speak to your organization and guests at your event anywhere in the continental United States and Canada. This includes a one-hour keynote and a one-hour workshop plus travel. (Additional value: $21,500). And yes, you’ll get the two e-books also.
These deals end at Midnight tonight so do not delay. Order now and charge more money tomorrow.