A Top-Secret, Exclusive, Special Offer?
Have you ever received top-secret, exclusive, special offer because you are a very special person? No?
That’s funny, I get them all the time, I must be more special than you!
I received another offer from a publication because I am a “Professional” and that entitles me to the “Professional Rate!”
And what does that get me?
You’re not going to believe this, but the normal cover price of the magazine is $319.00 when it’s bundled with a 52 weekly-issue of an additional magazine that I must need to help me manage my money. However, because I am a “Professional” I can get them both for only $11.00!
That’s a savings of $308.00!! How in the world could I pass this up, after all, I am a “Professional”?
So that got me thinking …
What if I followed their advice when it came to promoting my products? What if I discounted the cost of my services by 96.5%? Just think of how much business I could have?
While I would be slammed with work, I wouldn’t be making any money. I don’t think that’s such a Smart idea?
What if I over-inflated the price of my services and charge 96.5% more than I normally would and then discount the hell out of the price so that people think they’re getting a special deal?
Does that really work? Are people really not that smart with their money? Wouldn’t they see through the deception?
4 Lessons To Learn:
- Don’t devalue your services. If you believe your services have value, help your customers see the value and how it will help them solve their problems or reduce their pain.
- Don’t try to lure customers by cutting your price, especially by 96.5%. It sends the message that your product is obscenely overpriced or that your customer is ignorant. No matter which way you look at it … you lose.
- Don’t lie to your customers! If the true value of your product is $11.00 charge them $11.00. If you don’t make any money at that price level, then either change your price or improve your product so that you can sell it at a level where you can make a profit.
- Sometimes as an entrepreneur, we struggle with valuing our product, especially if we are the product. Be careful not to tie your self-worth and value to the value of your product. They are not one-in-the-same. You can end up over-inflating your value or under valuing it, neither being a great choice.
And remember …
The next time somebody wants to offer you the sun, the moon, and the stars for the price of a cheap telescope … walk away and look for some place else to invest your time, money, and resources!