An overlooked marketing strategy for increasing your fees

friday, 11 august of 2017

By Tom Trush

What makes someone eagerly buy a product or service that's priced at least two times more than comparable options?

You might be surprised to know that, in certain cases, the decision comes down to something as simple as a piece of paper.

Let me explain...

My wife, Michelle, and I recently stopped at Bed, Bath & Beyond for new bed pillows. She replaced the last set without me. So I went into the store not really knowing what to expect.

I groaned the instant we set foot in the pillow section. The price range was ridiculous -- and all the items looked the same!

Prices for the puffy white rectangles started at $19.99 and went as high as $159.99.

Confused, I immediately grabbed a "middle-of-the-road" option. After all, my only buying criteria was avoiding the cheapest, low-quality choices.

Michelle, on the other hand, zeroed in on a high-end model that was at least twice as much as my pillow. When I asked about her preference, Michelle explained she wasn't sleeping well and believed the pillow she picked would solve the problem.

I rested my head on her pillow. It felt the same as mine and, of course, looked identical.

The only difference?

The label showed Michelle's pillow was recommend by sleep expert and New York Times best-selling author Dr. James B. Maas. What's more, the packaging included Dr. Maas' sleep tips booklet, which is an excerpt from his book Sleep for Success! Everything You Must Know About Sleep But Are Too Tired To Ask.

Although the booklet was just a few saddle-stitched pieces of paper, the information inside represented tremendous value to Michelle. After all, the topic matched the thoughts in her mind (i.e., I need a pillow that helps me sleep better.).

Think about this for a minute ...

Knowledge shared on little pieces of paper caused my wife to spend twice the medium price for a commoditized product. And you know she's not the only one buying those pillows.

I often talk about how you writing a marketing piece from scratch is like an artist with a blank canvas. Your written words serve as the "paint" that determines what prospects are willing to pay for your product or service.

The closer you match their problems, the higher the price they'll pay.

Search for Dr. Maas' pillows on the Bed, Bath & Beyond website and you'll see another smart marketing move. All seven pillows (only one was available in the store) target a specific type of sleeper or problem.

For example, he offers options for people who sleep on their side, stomach and back, as well as those who feel stressed or enjoy reading in bed.

Dr. Maas doesn't offer pillows like everyone else. He delivers solutions to specific problems and uses his marketing to prove it. As a result, he can charge higher prices.

So how well do you target your prospects' problems in your marketing? Do you deliver solutions -- or only pitch what you offer and hope people buy?

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Tom Trush is available at http://www.writewaysolutions.com