“The trick is not how much you’re charging for your product, but rather how you position it”.
I get contacted all the time by marketers in need of more money.
They want to increase their revenue.
They want to earn more money.
And they just can’t work more hours (because we all need to sleep at some point).
So the question is “How?”
How can I earn more money without working more hours?
My simple answer to that is “Charge more for your products and services!”
And that’s something many marketers are afraid to do.
They feel they are not worthy enough.
Or they shouldn’t be charging more because “Who will buy from me?”
I’m sure you’re familiar with the feeling.
However, it’s not about how much you actually charge for your product, but rather how you position it in the market.
You see, there are a ton of people selling golden nuggets for $7 as WSO.
While others charge $5,000 for an hour to teach the exact same thing.
How is that even possible?
Once again, the key here is “positioning”.
While you can sell $7 products all day long without further notice or work.
Selling $5,000 workshops is harder.
There’s no doubt about it.
But think on how many $7 WSOs you’ll need to sell to afford that Lamborghini you’ve always wanted.
And now think on how many $5,000 workshops you need to sell to give your kids a better education.
Numbers are completely different, right?
How Perceived Value can Literally Make or Break Your Business?
So there is something called “perceived value”.
And I love to illustrate this with a short story.
Imagine that the best basketball trainer comes to a school and offers to take 1 student for a full year. He has the credentials, he has the knowledge and he is actually the best basketball trainer in the entire world.
Now imagine that LeBron James comes into the same school and offers to take 1 student for a full year. He doesn’t have anything else than his name and his “authority” figure.
Who would you think could charge more for this 1 year of tutoring?
Who would be more sought after?
If you said LeBron James, we’d both agree.
And we’re not talking about actual content here, but rather “perceived value”.
And what this has to do with you?
In fact, this perceived value can help you sell at least 50% more products or services.
And not only that, but it will allow you to charge up to 2x, 3x or even 10x more for your time.
The key here is that the “perceived” value of your product always exceeds by a large amount what you are actually charging your audience.
So what’s the “perceived value” of having 1 year of one to one training with LeBron James?
That’s pretty high, right? In fact he could be charging whatever he wants for it!
How to Position your Products Effectively
So whenever you are selling a product or service, you need to present it as if you were giving away 10 times the money you are charging for it.
That’s why $5 or $1 trials work so well. They are a no brainer!
If you’re getting access to a 3 or 4 figure program for just $1, that’s 300% the value you are paying for it!
The same happens with the infamous “trip wires”.
If you’re getting 20 or 50 times the value for $7, there no much to think about!
And this applies when you’re selling high ticket stuff as well.
If you’re an attorney giving divorce counseling for $5,000 or $10,000, imagine the problems your program solves.
How much would people actually pay to save their marriage? Or the headaches of a divorce?
That’s something you need to present first hand.
Should you Offer a Trial Offer?
This is the difference between a funnel with a trial offer and without one.
And yeah, numbers can vary, but the concept remains the same.
Present your offer as you were giving 10x the value and you can charge more for your products, your services, earn more money and have better clients coming to your site.