November 18, 2017

Do This Rather Than Lower Your Prices

This past weekend, I had a chance to chat with a family member who runs a computer repair business. What was interesting is that his primary marketing model was that he charges less for what he does than the competition.

This is a very common practice in that a business owner will “think” that by charging less than the competition, they are “marketing.”

We know, after decades of research on the topic, that people don’t buy on price alone and in fact, price figures into their buying decision less than 5% of the time!

So if dropping your prices is your only marketing strategy, you’re missing the point of marketing.

Here are a few suggestions that you might want to consider instead of simply putting things on sale:

1) Add Value: Rather than lower your price, add items to your offer that boost its VALUE. You could add some digital content (e-books, reports, audio, and/or video) to your offering. If you’re a service business, you could add some additional time onto your service, or offer to do something more than you usually do. Think of the hair stylist who also gives you a little head massage before getting into your hair!

2) Show Them What Else it Can Do: In other words, you may want to paint an even bigger/brighter picture of what owning what you’re selling will do for your customer.

Think of the infomercials that sell steak knives and they show you what other things you can do with their steak knives. Maybe you can cut watermelon, tomatoes, bread, etc. You get the idea.

3) Take Them Farther Down the Path: Instead of just being focused on what your customer will gain in the immediate term, let them know what buying your product or service will give them in the weeks, months, and even years ahead.

For instance, if I were to sell you a marketing training program, I would mention that once you learn what I have to share with you, you’ll have those skills to use as much as you’d like for the rest of your career. Then I might ask, what is that worth to you?

4) Make the Price Disappear: Yup, you MUST make the price disappear in the minds of your customers. If cannot become the reason why they choose not to buy from you.

In the case of my family member who fixes computers, I asked him what it was worth to a company that had valuable data locked up in a failed computer if he were able to recover that data for them?

His answer told a very different story about what he could be charging his clients because lost data can represent tens of thousands of dollars in lost productivity for a company. In that light whatever his price was would be seen as a bargain by a company with that issue.

Here is my advice for you.

Only lower your prices if everything you’ve tried has failed to work for you. In other words, dropping your price is a last ditch effort and should only be used to avoid closing the doors of your business, and should never be used as standard practice in your marketing.

Be Outstanding!
Robert Imbriale
 

 

What it Means to be Free

Perhaps one of the hardest concepts for us to grasp is that of freedom. While it seems like a good idea, for the average person, freedom is NOT what they seek in life. Let me explain.

To be free, you would have to be the type of person who can and will take control of your life. You would have to be responsible for how your life turns out, no matter what the outcome.

In return, you would indeed gain the freedom to do as you please, as often as you please.

The problem for most people is that they only want HALF of what freedom brings. They want to be able to do as they choose whenever they choose, but at the same time are typically unwilling to embrace the responsibility that comes with true freedom.

While many talk a good game, very few will ever get to the point where they can do as they please.

In order to get, you have to give. There is no getting without giving.

In the case of our current societal challenges, there is no such thing as free healthcare without giving up something in return. To get the healthcare, you have to be willing to give up your freedom of choice, you have to be willing to give up more of your income, and you have to be willing to give up your power to choose how you wish to deal with your personal health.

This is a unversal law, which has been in play since the beginning of time. If you want something, you have to give something to get it.

If you want to be wealthy, you have to give up your time and creativity in order to create wealth. You see how poorly it turns our for those who gain great wealth in an instant with a winning lottery ticket. Trust me, you would not want that to happen to you.

If you prefer that somebody else be responsible for your well- being, you’ll give up your freedom. You and I speak about this often in terms of making the choice to be an employee or a business owner.

As an employee you gain the security of a weekly payday, but give up your freedom. On the other hand, as a business owner, you have much more freedom and in exchange you often give up security.

In the end, the choice of which way you choose to live your life should be up to you and only you. Nobody should ever dictate to you which path you should follow because nobody knows what’s best for you better than you.

In a time when our freedoms are once again threatened by people who think they know what’s best for you, and will stop at nothing to force you to get in line and follow their dictates, it’s more important now than ever that you stand your ground.

Whether it’s a close friend or a distant government official, remember that you and only you are in charge of your life.

We live in a great country, one that has for generations left the decisions on how we lead our lives up to the individual.

Today, it’s time to celebrate your freedom as you continue along your path in life seeking even more freedom.

Have a Happy 4th of July!

Be outstanding!
Robert Imbriale

Marketing Strategies for the Fall Shopping Season

Every year about this time, my focus and energy begins to shift  rapidly to the coming fall season. Why is this such an important  part of the year?

For one thing, it’s the time of year when sales increase for many  businesses. However, businesses who aren’t planning their fall  marketing strategies right now, will be too late to capitalize on  this increase in sales.

I know that you’re the type of business owner who is eager to  grow your business, so I’m sure that you’re now ready to look at  what you can do for your marketing this fall.

Let me give you a couple of quick ideas. First, Labor Day is this  coming weekend, so you can put together a special and get that  out to your list, to your Facebook friends, and your Twitter  followers.

Beyond that, you’ll have more time to plan for marketing you can  do in October, November, and of course, December too!

Here are some of my favorite types of promotions: [Read more…]

Creating Hope and Change Immediately

As you may have noticed, what’s needed more than anything right now is more hope  and certainly some big changes are also in order. But sitting back and waiting  for the powers in charge to give you hope or make the kinds of changes that will  make your life better is fruitless, frustrating exercise in futility… and I’m  being kind!

In my life, I’ve taken on a new approach that is serving me quite well these  days. Instead of waiting for things “out there” to change in ways that will give  me hope, I start instead by creating that hope by making changes in my immediate  environment. [Read more…]