Don’t think it’s possible to charge high prices even if you are in a competitive market? Think Again! Marketers are doing it every day, so why can’t you?
The online marketplace is very competitive and competition is actually a really good thing…that is, if you are on the winning more than the losing end of it.
When I did outside sales for 10 years, I worked in a small industry with only 3 major players providing a similar service, so it was SUPER competitive. The great part about it though, is the numbers told us when our company was against only one other company, we would win the business more than we would lose it.
The numbers told us even more…
Don’t Hide Behind Competition, Embrace It
If you are selling something, especially if you are selling at high ticket prices, don’t think you are the only one a customer is evaluating to spend their money with. To win the business, you’ve got to be aware of your competition and outdo them every step of the way.
The Move To Charging Higher Prices – It All Changed For Me in Austin, TX.
How are successful marketers pulling off selling at higher prices even in a competitive environment? Well, it’s easy, the first thing they are doing is have the balls to ask (I can write that because I’m a woman).
I’ll never forget it – In April 2015, I was sitting in a high level mastermind In Austin, TX with one of my mentors, Eric Louviere and I asked him how I can charge higher prices for my products. He made sure the room was completely silent and he said he needed to take out the white board to demonstrate this important question, so we would break for 5 minutes and when we got back from the break, he would then make the big reveal.
We got back and he had the blank white board open on the laptop.
The room was silent. He said, “this is how you charge higher prices…”
He proceeded to write $19 on the digital whiteboard => then he added another 9 and a 7 and a comma after the 1. And then stopped and looked up and said, “That’s how you charge higher prices.”
I will never forget that moment because it literally changed how I started pricing my products online.
After that when I got home I wanted to start to ramp up my marketing. I wasn’t sure where to start so I thought about it and started really looking at Eric’s copy and other successful marketers.
I started to notice the common qualities of marketers who successfully sold at higher prices.
I noticed they have certain simple things in place that allowed them to easily as for higher prices and get them, without fail.
In this post, we are going to talk about my discovery so that you too can easily raise your prices – even if you have competitors!! It’s a beautiful thing!
Specifically, we’ll be discussing:
- 2 Personality Traits of Someone Who Commands Higher Prices
- 5 Elements To Help You Sell At Higher Prices
- 3 Additional Helpful Selling Aids
If you want to know what it takes and what you need in place to sell and make more money online, this is what you have to do…immediately!!
2 Personality Traits of Someone Who Commands Higher Prices
There are definitely some personality traits you need to embody to start asking for more money. You can literlly have the worst marketing material in the world but if you embody these 2 traits, this will start working for you!
What is written below is not just some B.S. list to fill a blog post. In order to sell at higher prices and win the business, you MUST have all of the following in place.
If you don’t have it yet, work your way up to it! It will pay off.
Let’s start with the big one…
I’m going to start with the most important aspect… confidence. I was almost going to call it an “invisible aspect” but confidence is not invisible, it’s just the opposite.
Confidence comes out in the words you use and how you use them throughout your copy. It comes out in the statements you make and the accomplishments you claim.
Confidence even comes out in the colors and the fonts you use!
Don’t expect to sell much, especially at higher prices if you don’t have the confidence and conviction behind the words on your page!
It’s really the confidence when you are setting up your buy buttons and you feel good about adding that extra digit to the price. When I first started doing this, sure I was scared at first but then I just went with it and learned from my mentors along the way to keep doing it.
Confidence is brought out and reinforced by the words and phrases you use.
Don’t hold back. Be candid. Be bold. Take risks. This is how confidence shines through.
You will need confidence to ask for higher prices. One reason why most people don’t make a lot of money is because they are selling their products and services too low. They lack the confidence needed to ask for more money.
2. Uniqueness (Not Boring) (Names, Techniques & Systems)
Unique naming is an absolute MUST and it actually gets quite fun when you start implementing it. Start to notice this in the copy of really successful marketers.
As you start to become more unique in your marketing, you will notice that it’s all stemmed from confidence! (see how everything plays a role together?)
Take a look at a typical webinar registration page of Fearless Social. Take a look at the naming of the techniques being taught:
What does this tell you?
First, making up your own terms for techniques stems from the confidence factor. Your ideas and methods are so awesome they are associated with a very important term…which is essentially made up by you!
Second, this keeps things interesting. Ben Adkins could have just wrote something basic without a specific name and it probably would have been boring, unoriginal, plain, and uneventful.
Lastly, making up names for entire systems can make you famous.
Think of Pavlov and Pavlovian Conditioning.
Think of Tim Ferriss, author of the 4 Hour Work Week. Tim has his own terms for everything and he’s famous for them. NR is the New Rich and he uses that term throughout the entire book.
Spruce up your copy with individualized names that are completely made up but work to your advantage.
Sure, there are more traits you can have, but for charging higher prices, these 2 are huge!
5 Elements To Help You Sell At Higher Prices
We just talked about the personality traits you need to command higher prices – now let’s talk about what you should have in place in your marketing.
1. Videos and Live Webinars
Now that we have unique names for our systems and practices, we need a great way to sell it beyond the written word.
Again, I will ask you to take a look at some of the most successful online marketers. You probably won’t find one without some kind of video selling their products and services.
That’s what I did. There was NO MARKETER that I observed who didn’t have a video they were using to help sell their products.
Think about it – would you spend $500 or more with someone if you never saw them or heard their voice? That would be absurd!
It’s probably their voice and their passion that gets you to spend money in the first place! It’s not going to happen without videos or live presentations!
Video is essential at the higher earning levels. If you are asking people to spend more money with you, they are going to want to know who you are, what you sound like, and a “live taste” of what is to come.
I recognize this more and more every day working with Ben Adkins. There isn’t a day that goes by when he is not filming his face or voice.
Videos help sell. Period.
There’s a specific formula when selling with video, as you know if you follow our blog posts. You can’t just turn on the camera and start blabbing and find success on the other end.
The shocking thing about using this formula is you can totally screw it up and still wind up doing better than if you didn’t use the formula!!
Once again, this is not theory, it’s proven that the formula is designed to convert…so use it!
What Access To The Highest Converting Video Sales Letter Scripts In The Industry?
Click Here To Learn More
It’s hard to sell anything these days without Reviews and Testimonials. We live in a very social world. Before most people buy anything, they want to see what other buyers are saying. This reduces risk.
Think about this in your own life. What do you do before you go to a restaurant you’ve never eaten at before? You read the reviews on Yelp.
What do you do before you buy something on Amazon? You read the reviews and star ratings.
What do you do before you watch a movie?….you get it I think.
You need to fill the void and show how other people are using your methods and succeeding with them.
The beautiful thing about this is the testimonials you collect don’t necessarily have to be your own. I teach this neat strategy in a training I did that shows how to use this trick to get testimonials you haven’t necessarily collected on your own. [watch video at the 37 minute mark]
Don’t expect to be able to sell high ticket anything without doing the leg work to get testimonials and reviews.
3. Bonuses, Incentives and Add Ons
After the social proof, it’s time to add more value with bonuses, incentives and add ons.
For the most part, if you look at offers around the web, bonuses are used completely wrong (to those with an eye for marketing). Unfortunately, buyers who don’t know better get fooled far too much buying products with ridiculous bonuses stacked up to make the value appear higher.
On many offers, bullshit and crappy bonuses are stacked so high you can’t even see the original offer. It’s hidden under the pile of crap made to look like you are getting the product for practically nothing.
Bonuses should not hide the original product, they should enhance the product.
3 Bonus Truths To Never Forget
- Bonuses Help Sell Your Main Product: Bonuses should be well thought out and very valuable information for the buyer. Your bonuses CAN be the ultimate reason why the customer buys if you structured them correctly.
- Bonuses Could Be An Extension To Your Product: Take a good look at your product. Perhaps there is something you can pull out and make it so special it now becomes a bonus instead of just part of your original product.
Oftentimes, products are longer than they should be and valuable information gets lost. Don’t let that happen. Take out an entire chapter of your report and turn that into a bonus to give it more weight.
- When in Doubt, Do It Live: If you are stuck on what bonus to offer (this will happen from time to time) a live training will never fail. Take something you talk about in your main offer and highlight it with a live training where you will go more into detail and stress how people will be able to ask you questions LIVE and….hang out with you! Yes, you are SO important people will think it’s a treat to be on a live call with you!! Always promise the replay for people who can’t be on the live session. It’s works like a charm.
Bonuses can make or break your offer. Be smart and follow these simple guidelines.
4. Impressive Looking Sales Material
The next overall requirement is impressive looking sales and marketing material.
Looks aren’t everything but they definitely hold a lot of weight online. If you’re selling with old school html Plain Jane, ugly marketing pages, you need a marketing make-over!
Marketing make-overs are easy these days because there are so many great tools which are very affordable and easy to use containing point and click and fully of beautiful templates.
What hurt internet marketers in the past was they had to become designers as well as marketers to sell products and services. The alternative was to hire expensive graphic designers and web developers.
That’s just not the case anymore!
Now, for a small fee, you can have million dollar templates at your fingertips in minutes!
With services like
- Click Funnels (we use Click Funnels at Fearless Social)
- Lead Pages
- Optimize Press 2.0
- Instabuilder, etc
….it’s very easy to get your marketing material up quickly and looking fantastic and ready to sell!
How easy is it to point and click your way to beautiful sales material? Very!!
If you have nice looking sales material, that will take you far. But there is something else that will take you even farther and that is….
5. Converting Sales Copy
The last element here is having Converting Sales Copy.
The operative word is CONVERTING 🙂
If you look at any successful marketer online, one thing they know how to do very well is SELL! The most successful marketers online understand how to write copy and speak copy (in videos as we already discussed above).
The only way you can really write effective and converting copy is to truly understand your audience (which we talk about A LOT on the Fearless Social Blog).
If you don’t know how to write copy designed to sell and convert, you’ve got to either learn how to do it yourself or spend some money hiring someone to write the copy for you.
Unfortunately, no one will see your amazing work if you don’t do an amazing job at selling it. That’s the awful truth!
One great place to start is to put together a video sales letter so you can achieve the likability and credibility factor immediately. Video is one of the 5 MUST HAVES as we spoke about above…remember?
It is important you don’t try to “wing it” when you do a video sales letter. The best thing to do is follow a script that is already designed to sell. Don’t reinvent the wheel.
At Fearless Social, we are huge on helping marketers create copy that is designed to sell…in the EASIEST WAY POSSIBLE.
Take a test drive of ScriptDoll that will write the high converting copy you need to sell your products and services.
3 Additional Helpful Selling Aids
We’re almost done with providing you with all the details of what you need to be able to compete with anyone in your market and even ask for higher prices. There are only 3 more things that you should have to accomplish this.
These 3 things will help you bring home the bacon.
1. About Me Page
It’s very helpful for you to develop an About Me page. This is a page dedicated to your life accomplishments. You can talk about where you grew up, where you went to school, what you are passionate about…it’s up to you how in depth you want to go.
The only thing that might get you into trouble is if you start talking about religion and politics. If you have very strong beliefs, it’s not a bad thing at all…it’s just you might alienate people from following you. If that’s ok with you, then feel free to add that stuff in.
Finally your About Me page should have a photo of you and any links to your social sites you would like to share so that people can connect with you and follow you.
Now that brings me to…
2. Social Presence and Leverage
Having a social presence in today’s marketing atmosphere is imperative.
You don’t have to “be everywhere” you need to be where your market is.
Having a Facebook Account is a given. When in doubt, start with Facebook. However, start to learn other places where your target audience is hanging out. What forums do they belong to? Maybe private memberships?
If you are in the cooking niche or the crafts niche, a great place for you to have a presence is Pinterest.
With social media, one size doesn’t fit all. Facebook is a given, but it’s not enough. Be where your market is and have a strong presence there!
Look at all of your favorite marketers online (can be in ANY niche). Check out the main social networks: Linkedin, Twitter, Facebook, Pinterest. I will bet money they all have a presence there.
For example, I am now really diving into the power of Linkedin and Pulse.
You can write articles on Linkedin using it’s article system called Pulse. Every time you publish and article, Linkedin tells ALL OF YOUR CONNECTIONS you just published an article. How awesome is that? If you don’t have much of a following on your blog yet, it wouldn’t hurt to start publishing articles daily on Linkedin and start growing your audience so your articles go out to thousands of people with a click of a button.
Now, that’s using Social Media as Leverage!
3. A Subscriber List
Finally, even in today’s marketing atmosphere that revolves around social media, you must be constantly building an email list. Having social media followers is great but it’s still not as powerful as an email you can send out to instantly reach thousands of people who willingly opted in to receive emails from you.
The misconception about email lists is you are only successful if you have a humungous list (like in the 5 digits). It is true, the bigger your list, the more money you are probably making but you can still be successful and make nice income with a smaller [but highly targeted] list.
The best kind of email list is a list full of buyers, aka, people who spend money with you. What does this mean? Well, this means you need to be selling something to grow a buyers list. hint hint.
It’s Time To Start Charging Higher Prices
When I started charging higher prices in my business everything changed. Of course, there will be some growing pains and some hurtles to overcome, but it needs to be done to get your business to the next level!
If you are ever unsure of what you need in your business, you can never go wrong with fulfilling the requirements outlined in this post. Nothing on this page is theory. It’s all proven.
If you wake up in the morning not sure what to work on, look to this list. You can’t go wrong if you spend your days getting closer to having everything on this list PLUS doing all you can to master everything on this list.
Are any of these optional?….NO. However, it might take some time for you to work up having all this in place, which is OK. Rome wasn’t built in a day. If you don’t have one of the five things, work your way up to creating them. Work on a little bit every day….soon you will have your empire!
Don’t overcomplicate this! Just get it done!
- 6 Tasks You Should Outsource Immediately To Free Up Your Time And Focus On Money Making Strategies - January 8, 2016
- 7 Hidden Places On Your Blog Where Subscribers and Money Are Waiting For You - December 30, 2015
- How To Sneakily Turn One Piece Of Content into a Marketing Empire To Sell More Products (On Complete Autopilot) - December 24, 2015
- Generate 100 New Targeted Leads Per Day For Free (In Just An Hour A Day) - December 14, 2015
- 5 Things You Can Give Away in Exchange for an Email (Works in Any Niche & Build in Under 30 min) - November 30, 2015
- How To Go From Charging $19 To $1,997 Prices (Even In A Competitive Market) - November 18, 2015
- How To Sell With Video For Less Than a $203.10 Budget - November 11, 2015
- How A Simple Ad Tweak Forces 25% More Optins - November 2, 2015
- The Script That Doubles Your Video Sales Letter Conversions - October 23, 2015
- 13 Critical Answers To Know Before Writing a Lick of Copy - October 12, 2015
Tony J says
Great and informative article! I especially liked your sections on Uniqueness and the 5 Elements. For the video and webinars, you should look at http://www.yondo.com . Yondo is an all-in-one solution for videos, webinars and to book and facilitate live 1-to-1 online video and phone consultations, sales demos and classes.
Erik Salmon says
There is a ton of content in this post! I like the part about testimonials and you have a link to a scriptdoll video talking about case studies.
I think the biggest thing that holds people back from charging more is that they them self’s do not see the value in what they are selling and have some kind of limiting belief holding them back.
Great article thanks.