Marry story….with selling
October 7, 2020Positioning = Pricing
A huge part of what determines the amount of money flowing into your business is how you are positioned in the marketplace. Using my 3 car image as a reference; Rolls Royce has a position in the car space, the high end. Mercedes Benz is in the middle. Buick is at the low end. All produce good cars, but because of their positions, they all have 3 very different price points.
The Who
There's a rock group called the Who that was big in the 70's and 80's. That's not the who I'm talking about.
Who your product is for is another factor in positioning. There's a certain segment of the population that Rolls Royce just does not and will not reach out to for selling their cars. Their "who" is the affluent and ultra rich folks. Two important things to note about that:
1. Rolls Royce has less competition. There's really one other competitor in the luxury high end car space which is Bentley.
2. It's less work for them to make the same amount of money as Mercedes, and Buick who have to produce 4 to 7 times as many cars than
Rolls Royce.
I like the positioning of Rolls Royce. They make more and work less. We all should strive for that positioning.
Availability
The less you have, the more it's worth.
I remember when I was in high school and being madly in love with a girl named Cindy. Up to that point in my life, she was the prettiest girl I had ever seen. I told her I would be available to talk on the phone, walk her to class, pay for her lunch whenever she needed. Whenever.
Mistake.
She placed less value, or actually no value on me because I was available at her every whim. Had I not given her soooooo much of my time I might have gotten a date.
Less time availability increases value. Same thing with a physical product. The less you have of them, the more valuable they are. As you know, there are far less Rolls Royce cars than there are Mercedes and Buicks; thus, the much higher price tag.
Top Shelf
Our clients prefer the intentionality of positioning them to sell to a higher income group, even if it's for just a segment of their business. If you want to position your products or services for the affluent, let's begin a conversation