How to get premium prices

The Strategy Of Price Justification

Today I helped a friend with an ad for his service.

Thought I 'd share with you what to do so you get the order and hold your prices
at a premium level when bottom feeders are fighting amongst themselves for scraps.

1 DIFFERENTIATE
In most markets, buyers have had a bad experience with another seller.
If you acknowledge that first up,
either by saying you understand this, or by not saying anything that resembles
what they bought before as this gives them bad memories.

2 BE SEEN IN PLACES WHERE NO LOW PRICE COMPETITORS ARE.
Dan Kennedy tells a story how a high end bed maker knew his market as being somewhat affluent Baby Boomers.
Then the question was not what advertising medium to advertise to them, but "were do we find them?".

One place was at vintage car shows.

So the bed maker buys space at a vintage car show. After being on their feet looking at all the cars, they are wanting to take some weight off their feet. Ahh a bed would be perfect! And so he had a captive audience.

3 BE THE ONLY ONE WHO VOICES YOUR PROSPECTS PROBLEMS.
These could be pain points they want to move away from,
or goals wanted to achieve.

An example is I'm aware a group of manufacturers want to sell direct to end users online,
but don't want to jeopardise their existing distribution network.
The group of companies haven't found a solution for this, they haven't come across anybody
who voices their desires and challenges they face as well as the solution.

First person/company does this has a captive audience.
No price comparisons available.

4 THE VALUES HELD
You probably heard about Apple stands for something beyond the product. You've possibly come across stories of leaders who at some point in time were told that they wouldn't amount to anything in life. We'll these are tags others put on people...good and bad. And we've seen the powerful affect that has on us.

Well you can adapt this knowledge by holding your customers to a high standard.

An example would be after you go into specific detail what's different about you,
you can come up with a line like...

"We think this is important. And we expect our customers to expect nothing less."

This has the effect of now having tagged them with high expectations,
they don't compromise and therefore buying elsewhere would be dropping their standards
you've bestowed on them.

Also it subtly plays to their egos.

There you go, see if you can add as many of those as you can to sell more
and at premium prices.

Best,
Ewen