I've got a great marketing story for you guys today... When I was about 10-12 years old, I was an avid fan of the local Golf Club (It's just down the street)... And I used to love going through the "ditch" at the Club, looking for Golf Balls...
I learned very fast that their were certain balls aka Pro V1's that were highly valuable and I could sell for more.. (Aka more then a dollar per ball), and the rest of them were more of a mix...
So as usual, I befriended some of the staff at the club, who used to let me play on the "putting green" for free (I wasn't a paid member till the next year). One day, I was putting, and this guy noticed the overflowing amount of balls in my bag, and asked me why I had so many. I told him, that I was planning to sell them... And he offered me $15 on the spot for a bunch of them..
As this transaction is going down, I remember having this lady come out, and tell me that I couldn't do the deal there.. (Again, she let me finish this transaction).. Another time, I had the owner of the club's father, actually tell me I couldn't sell balls near the course.
So that was my little short story...
Now, I want to get to the marketing lesson here... It's about "VALUE", and pricing. See, I made A LOT of mistakes when I was young and entrepeneurial (I grabbed a ball off the course, even carried a few beer bottles for .10).. But, I did learn a TON Of stuff about valuing your merchandise.
Remember how I said, the PROV1's went for a $1? Well, the reason I did that, was because I knew to buy them knew it would be $3.. So I figured, what would be the best way for it to be a no brainer for someone? Make it really cheap... See, their were other people who did what I did, but they would never sell the ball for $1.. They would have charged a couple dollars a ball.
So that's why, I, at 10-13 years old - became the "source" of prov1's, because I gave the best deal to people. So where is the internet lesson here? Know what the things you provide are worth, and make a price IN RESISTABLE.
There was NO WAY, that anyone would not buy them from me, for $1, because they KNEW that they would cost more ANYWHERE else. Make yourself the source for the best price, and people will come running..
Ex. If everyone is selling a guide about "X Topic" for $9.95. Sell yours for $7, be the best deal on the marketplace. You'll get more sales... And you'll be the inresistable source for the best deal.
Why do you think people shop at Costco? Because they know they will get the best deal.. Deals are irresistable. I had the bar tender at the same Golf Club, ask me to find him those balls (this is when I was younger), and he bought them from me on the JOB.
So I hope i didn't just embarrass myself for nothing. I really wanted to share with Warriors how I got started. I didn't just show up online, and assumed I knew what I was doing in business. I spent a long time, embarrassing myself, and putting myself out there.
I don't have the guts to do what I did back then now. I get nervous now.
EDIT: I didn't so much mean as to say "race to the bottom" in price, what I meant was provide irresistable value for the price someone is paying. Cheers - Caleb