Pricing Tells The Marketplace Who You Are

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

 

Pricing is the number one way that you communicate to your clientele, right? The moment you announce your pricing, you do two things. One is you tell the whole marketplace who you are, and what you are. Are you the Timex? Or are you the Rolex? Right? Am I the Subaru? Or am I the Ferrari? And there's one that is not better than the other? If you took a bunch of Subaru owners and said, What do you think of a Ferrari? They'd be like, Oh my god what a waste of money. And it's not as reliable, why would I be–can't even take it off-road? What good is it? A Ferrari owner will say a Subaru? Eh, I'm not so sure I want that car. What's that going to do for me? They're both right, right? So, you tell the market who you are, you say I am a Subaru. So all of you out there. I'm looking for Subaru buyers, right? I'm a Ferrari, I want Ferrari buyers, not one is not better than the other. They're just different. The other thing that happens is you tell them who they are. You tell them what kind of buyer they are. Now, you have to be really careful here because your pricing has to be congruent with who you are and who they are, and the product that you claim to be providing. So in other words, if you say I'm the best, the best I have the best content I have the best clients, but then you charge a little bit, something's wrong. Well, how can you be the best? I wait a minute, I pay more for front-row seats at a concert. I pay more for that. How can they be the best if they're so cheap, something's off, something's wrong.

 

Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.