The Mindset
There was a recent experiment that took place – and it should teach us a lot about selling our act.
Payless Shoes, famous for their cheap footwear, recently did an experiment. They rented out a former Armani storefront, stocked its shelves with $19.99 heels and $39.99 boots and set up shop as Palessi.
Palessi invited influencers to preview their new “designer” shoes and asked how much they would pay for them.
These influencers praised the merchandise and said they would pay hundreds of dollars for them. Up to $640 for a $20 pair of shoes! Palessi wrote orders – and then came clean about their experiment.
But if the influencers had never been informed, they would have LOVED those shoes and praised them to the heavens.
Here’s the point…
Your value is determined by the way you position yourself, NOT by the market price, what your competition charges, or by what you believe your market can afford.
It’s not determined by how much your product or service cost you to create.
Value is determined by the EXPERIENCE the client has with you.
The more value experience you create, the more your client will happily (yes! happily) pay. Raspyni Brothers were famous for this.
People find value in the strangest of places:
The fancy wrapping paper.
The endorsement of someone they admire.
The quirky story on the label.
The secret handshake required to get in.
Seth Godin tells us: “People do not buy goods and services. They buy relations, stories and magic.”
If you want to sell your services at luxury prices, you need to create an experience your clients will pay more to get. A SBBP alumnus, Andrew Smith teaches this lesson beautifully in his book $1000 Kids Birthday Party Secrets.
That means meeting them where they’re at!
What do they believe in?
Video
Audio
The Fast-Action
- Fast-Action for today: This one is driven mostly by “living into” vs “specific instructions.
- Get honest with yourself and your fee.
- What would you have to do, say, be and have to give your ideal clients an experience they’d joyfully pay more to get?
- Let’s go DEEP to answer these questions.
- How long have I been at this current price?
- What factors went into me picking this price?
- Is this the price range I belong in right now?
- If not, what experience can I offer that my clients will joyfully pay for?
- What assets do I have in place to position myself that way (testimonials, videos, copywriting, marketing materials, expertise, etc)
- What would have to happen for you to
- your fee?
- Triple?
- 10-times?
- Play in that world today!
Photo of the Day
Danny shared this dramatic panoramic view of his desk. Thank you, Danny, for making a commitment to taking fast and consistent action and making this a place that fills you with pride and creativity!
Chat Roll
00:00:41 Kyle Gresham: I want a 21 day program with Annie
00:01:07 sara kunz: morning everyone! Annie was wonderful!
00:01:49 James Perry: good morning
00:04:46 Conjuror: Oh, yes. I can relate
00:16:31 James Perry: 1 year recently
00:17:20 Danny Orleans to All Panelists : Completely right about being at current price. — even at trade shows
00:17:59 Danny Orleans to All Panelists : But have managed to raise 20% with new clients.
00:20:43 Danny Orleans to All Panelists : Not yet… but planning fast action on desk tonight when wife is away from house.
00:20:50 Colin Campbell: Man you guys are amazing. Thank you for the perspective.
00:21:00 sara kunz: Thanks, Annie!
00:21:04 Kyle Gresham: yes
Resources
Andrew Smith’s Book
Andy Zandy – Action Hero for Kids Parties