It's November 2nd Black Friday? Ready?
Black Friday More Like Black November lol :-)
When I was a kid and dinasours still roamed the Earth, the walk to school was always covered in snow up hill both ways lol not really. Back in the 80s you did not see Winter holidays Stuff until we were deep in November, and thinking okay Thanksgiving is almost done let's talk Winter holidays.
Now a days you can shop for your Halloween candy and decorations, and your winter holidays decorations at the same time in the same store. I know culturally speaking this article may be a little late. In the 80s it would have been considered early lol. Even though you may not sell hard goods, you may feel pressure to start slashing your prices.
Stop!! There is a Better Way.
Yesterday you may have noticed the Black Friday emails. Huge names will be slashing their prices on their products and services. Affiliates will be lining up their massively marked down offers. You may be following a guru screaming at you to slash your prices and get your ads out there asap.
This is where FOMO (Fear of Missing Out) will start slapping you around like a school yard bully. Consider this before caving in to this incredible pressure. If you are in your first couple of years of being profitable, every penny you make is incredibly valuable to the future growth and sustainability of your business.
Now that we have the problem very well explained, how about some solutions? Don't you hate articles and videos that use their entire scope to explain the problem in detail, but no solution. In today's business climate who has time for this type of content marketing, you don't, I don't, nobody does. Thaat being said let's move on to the solution.
The Solution!!
Regardless of your services or products this is a solution that will fit with everyone's business model. The first thing you need to be able to do is get involved. Let's say you are offering an educational course that a thousand other people are selling. They have all followed the crowd and slashed their prices. You are going to go against the crowd and really stand out by doing something completely unheard of. You will offere them more value.
There is that word again Value. Remember a couple of weeks ago I wrote an article that explained the word Value in our industry? Do not worry I am not going to ask you to read it. In fact I won't even include a link. Value does not have to be a mystery concept. All you need to do is make sure your offer has a lot more value than your competition. They cut the cost of the course by 50%.
In a lot of ways they are crippling their business. Yes it can be argued that since it cost less than before, it will get more sales. Consider that your competition also slashed thier prices by 50%, so will you really make enough sales to cover the potential profit loss? That is an argument for another article. In this article let's focus on being different by offering more value.
Let's Talk Value People!!
If you really want to offer a value, greater than your competition. That Value is You. No I am not joking you are the greatest value in your offer. Let's say the course you are offering is "Social Media Marketing Success" by Online Guru. Like we said before 1,000s of other marketers are selling the same course for half price so instead of $99 it is now $49 but only for a limited time.
We have all bought courses, and we have all become hopelessly lost in the scope of that course for a multitude of reasons. You have taken this course and it really made a difference in your business. This is a requirement when selling anything online. If you have not personally used and enjoyed the product, then do not sell the product. I have a hard & fast rule, I only sell what I use, and even then the product must be awesome.
Many people do not follow this rule. I do not know why, in a pre WWW era Zig Ziglar defined sales as a transferrance of emotion. If you are not excited about what the product or service did for you, then how could you get anyone else excited?
You Are Unique!!
With your competition the buyer only gets the class for $49, but if they pay you $99 they get the following.
- The Class with a $199 value (do not worry your competition will be saying it is a $199 value or more)
- Private FaceBook Group dedicated to the subject $59 Value
- Class PDF CheatSheet $39 value
- 4 15 minute coaching sessions $200 Value
Now you have just offered a total value of $497! Your competitions value is still only at $199, and no one to guide them through the process, and for all of that $497 you are only asking an extra $51 for $298. These numbers are just an example you will have a better idea of pricing based on your business model.
Just by offering yourself as a bonus you have created a very unique offer that the get rich quick part of the 93% statistic of those that quit, are unwilling to do. Your experiance is very valuable because you have already went through the growing pains of having the course help your business.
That makes you the perfect person to help others succeed in the same way you did. When people say making money online or affiliate marketing is a huge scam, those are the people that received bad advice and got burned for their efforts. If you make a video explaining the advantages of having you guide them through the course you will sell even more.
Remember we are all selling something that 1000s of other people are also selling. Now you know how to stand out in that endless sea of marketing offers. You are the key to being very successful or quitting in frustration. You are the difference that makes your product or service much more valuable. We are people we are social creatures. Regardless of what the media wants us to beleive, people do business with people not companies.
Try to start new habits where you regularly offer people more value than your competition. Starting new habits might be harder than breaking old habits. If it was not for the #ctpcontent challenge I never would have been able to start a daily content creation habit.
Let's start a discussion about the different ways we can offer more value.
Yes, the time of year for the race to the bottom. Great suggestion to Stick Out Like a Sore Thumb and offer a much higher value added solution to your audience. Nice job on this article. Competing on price is never a good idea at any time of the year.
Race to the bottom what a perfect headline. You write good copy 😀
Thanks, Chris! I don't consider myself to be much of a writer. LOL Happy accident, I guess. Have a great Wednesday!😀
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-- @lisamgentile1961