GKIC Ireland

November 2015

2 Secret Pathways

to Charging

Premium Prices

Treasure

2

Who is John Mulry?

About Glazer-Kennedy

Insider Circle

GKIC offers strategies for business owners to grow their business through direct response marketing. You’ll discover how to:

• Attract more of your ideal customers and clients,

• Get them to come back more often,

• Have them spending more on each visit,

• And send you more referrals than you ever thought possible.

These strategies are revealed every month in the No B.S. Marketing Letter, these chapter meetings, at live workshops and through offline and online resources.

You have come to the right place if you want to hold every single Euro you spend accountable for multiplying itself and create the business lifestyle you always dreamed of!

2 Secret Pathways to Charging Premium Prices

Most people start

their thinking process

about pricing with

what they believe

they have to sell -

their product or

service - essentially

what’s on the shelf as

it is on the shelf now.

ONE: The value or perceived

value of what their thing is.

From there, they figure out what price it can

and should be sold for, within two contexts:

TWO: At what price

competitors are selling

comparable things for.

For maximum profit there are

two other contexts for setting

and presenting price.

1. Who is buying?

2. Why are they

buying?

Who is

buying?

Who you are selling to WILL determine your price.

What do you actually

know about your

prospects or

customers?

Not presume.

Not believe.

Know.

The chief problem with the product-based

approach to pricing is: pizza is pizza.

You can argue better ingredients = better pizza as Papa John’s does . . .

. . . or sell quantity for price as Dominos does

But basically, in the consumer’s eyes, pizza is just pizza

UNTIL you change the who and why.

But there are advanced strategies to

determine who buys from you.

Too often in business,

coupons, Groupon,

Discounts, etc. drive

buyers’ choices.

Switch your marketing . . .

FROM an objective of being known or attracting prospects or

customers to appointments, store or showroom to gain selling

opportunities

TO creating selling opportunities ONLY with prospects already

pre-determined to buy from you.

Advanced Strategy for Premium pricing

This strategy makes the earliest part of your work

more challenging but ultimately:

• Permits MUCH higher prices,

• Makes selling and all your work easier,

• Dramatically elevates your income.

Blatant Commercial Plug.

Strategies on how to identify your

ideal client is a cornerstone of

GKIC’s Magnetic Marketing.

Why are they buying?

Most business people learn about features and benefits, and conversion of product features to consumer benefits.

None of this is very useful unless linked to the user’s motivations to buy.

You cannot expect much price elasticity

from product features and benefits

EVEN IF those are superior to

competing products.

If you are asking features and benefits superiority

to raise your prices and profits,

you’re asking a mule to lift you

into the clouds like a helicopter.

Even if the mule tries and leaps as high as he can,

he’ll get you only slightly off the ground.

“Most sales are lost because

the salesman presented his

product before he knew what

motivated his prospect.”

“If the secret of selling is to

appeal to this prospect’s

motivation, your first task

must be to find out what

that motivation is.”

Harry Browne

The other mistake commonly made is assuming

the prospect sees the correlation

between your offer and his motivations . . .

. . . without it being clearly spelled out and hammered home to him, for him.

For example, a chief motivation for seniors to buy

hearing aids - at prices higher than they’d have ever

guessed - is NOT to hear better; it is to avoid

appearing addled to their

adult children so that they

are not hurried into the

nursing home, where

they’ll be safer.

For example, a chief motivation for a sales

professional buying an improvement course,

success training or investing in a business

opportunity is to

get a promotion or

raise and bring

home a bigger

paycheck so that

he might get more

bedroom action

from the missus.

For example, a chief motivation for a man signing up

for landscape and lawn maintenance services at a

higher price than he’d ever have imagined paying is

his intense dislike and envy of his snooty neighbor.

He is buying so that his

lawn will out-shine

that S.O.B’s and at the

neighborhood pot

luck, he can rub it in.

. It’s the “so that” that matters.

We can sell him a motivational “so that” for a lot more money than

we can sell him a product.

The “so that” motivation is what made Dominos Pizza’s

original Unique Selling Proposition (30 MINUTES OR LESS

GUARANTEED) so brilliant.

It sold to the chief motivation of Domino’s earliest

customer base - college kids in dorms

near the Dominos who, after

smoking funny cigarettes,

desperately wanted

carbs – fast, and

were too incapacitated

to go find and fetch them.

The price someone will pay, and the elasticity of that price has everything to do with who he is and what his personal motivations are, and little to do with the product itself.

In many cases, price is not only more elastic - it ceases to be a

consideration altogether!

Yet despite these vital facts, most marketers still fail to behave based on this information, and fail to utilize this data, in their own

businesses, in their marketing or selling.

“At what price

can I successfully

sell my product or

service?” is a poor

question (in every

sense of that word).

1. Price elasticity has more to do with who is buying

and why, than with what is being sold.

2. The more precision matched

the “what” is with the “who”

and his specific need or

interest, the more price

elasticity you will have.

Two Principles for Premium Pricing

To learn how to increase your income with premium pricing, buy “Powerful Price Positioning”

Now we'll break up into small groups of 3 to 5 to brainstorm how to use this information in your business.

Afterwards there will be time to share your ideas and questions with the chapter.

Ah-Ha! Moments

What did you learn today that you can use to grow your business tomorrow?

And now for the

Marketer of the Month presentations!

And the winner is …. (Drum roll please!)

The next challenge is . . .

Find out why your

clients buy your

product or service

then leverage that

data for a higher

price offering

Marketer of the Month Participation

Put into action this month’s lesson by doing the “challenge”. Be bold! Be brave!

Email me at least 3 days before the next meeting date so I put you on the schedule.

Be prepared to give a 3 – 5 minute presentation -- what you did, the feedback and results.

Bring samples to show the chapter.

Remember, you lose 100% of the times

you don’t try!

Challenge yourself!

Implement!

Learn a new skill

and increase your income by doing it!

What’s New!

Marketing Asset Workshop – 9th

What’s New!

What’s New!

Only $4.95

What’s New!

Plus You’ll also receive:

• The “New Member No B.S. Income Explosion Guide” and CD

• The “Income Explosion FAST START Guide”

• Webinar: “The 10 Big Breakthroughs in Business Life” by Dan Kennedy

• Webinar: “The Essentials to Writing Million Dollar Ads & Sales Letters BOTH Online and Offline” by Bill Glazer

• Webinar: “The ESSENTIALS of Productivity & Implementation for Entrepreneurs” by Lee Milteer

“People often say that motivation doesn’t last. Well, neither

does bathing – that’s why we recommend it daily.”

Zig Zigler

Mark Your Calendar!

Our next meeting is on Wednesday 9th December

“How to sell more using fun, interest and imagination”