Imagine spending the same amount of money on marketing and performing the same amount of work to deliver your products or services, but earning more money and keeping more after your expenses. That's what happens when you institute elite positioning for your business.
With elite positioning, you are not any old accountant, cabinetmaker, software maker or fitness trainer. You deliver superiority or exclusivity and therefore charge (and get!) more. Here are five ways to add an aura of extraordinariness to your business.
1. Specialization. If as an accountant, you only work with family businesses, clients perceive you as more familiar with and more skillful in dealing with their unique issues and circumstances. Whether or not you really have that much more expertise is not the crucial factor. The clients' knowledge that you specialize makes them comfortable paying more for your services.
2. Selectivity. Suppose that as a cabinetmaker, you didn't take any job that came along, but only those that offered interesting aesthetic or technical challenges for you. In that case, clients feel grateful that you have taken on their project and understand that if you are turning away projects, you of course charge more than your competitor who serves one and all.
3. Better results. Do you have any very, very impressive testimonials, awards or performance figures that prove you get superior outcomes from the work that you do? If so, highlight those credentials and raise your prices. Clients understand that the software that never, ever crashes computers costs more than the buggy kind.
4. Fame. When you're the fitness trainer who's just appeared on Oprah - or actually who ever appeared on Oprah! - you have a license to charge premium fees. As with most other kinds of elite positioning, your skills aren't necessarily greater, but your visibility places you at a higher level than colleagues who aren't trailing clouds of media dust.
5. Self-confidence. Perhaps you don't specialize, turn away clients, get better results or have fame. If you have bravado and nerve, you can charge premium prices anyway. This works only if you can say, "I charge $400 an hour" (or whatever stratospheric fee you choose) without any wavering or uncertainty in your voice. Does this idea make you indignant? Then consider whether you're ready to charge more. If you believe deep down that you're worth it, then you have what it takes to pull off higher prices. Stop letting fear hold you back!
Marcia Yudkin is the author of 6 Steps to Free Publicity and 10 other books. She runs an online mentorship site, MarketingforMore.com, which supports business owners who are growing their businesses. Download her free report, "Charge More & Get It," at http://www.marketingformore.com/survey.htm . Or find out about her upcoming Marketing for More seminars at http://www.marketingformore.com/survey.htm .
Barrington South Lincoln Stretch rentals .. Lockport Chicago limo O’HareEvery new business owner knows that a business plan is... Read More
A menu is the foundation of any restaurant; Guests will... Read More
"Begin with the end in mind," says Stephen Covey in... Read More
Many very successful business owners may never have had a... Read More
More than $117 billion passed hands from Internet shoppers to... Read More
Making money doesn't make your reputation... your reputation makes you... Read More
Some analysts credit [Larry] Ellison with anticipating the consolidation in... Read More
Writing a business plan is no easy task, sure you... Read More
It's easy to lose sight of what needs to be... Read More
The foundation of any business transaction is the promise of... Read More
Richard L. Daft one of the country's recognized academic leadership... Read More
Obviously, there will never be an actual water shortage since... Read More
Note to Rite Aid and CVS: It's not about the... Read More
When in doubt, cut that out! Yeah, yea, doubting Thomas... Read More
Creativity is one of the greatest tools for success in... Read More
Here's a really simple way to make sure your plans... Read More
Many cities have home pages on the Internet. Many of... Read More
Q: A key investor in my business has suggested that... Read More
Experts estimate that 90 percent of Australian businesses are overspending... Read More
Six Sigma is becoming a proven approach for businesses and... Read More
Franchised companies often require what some believe to be excessive... Read More
Succession planning requires the owner of a small or medium-sized... Read More
Please take a moment before you read any further and... Read More
Private equity firms have raised so much capital over the... Read More
"Did you hear what your competitor is doing?" This question... Read More
Downers Grove limo Chicago ..( * - the word 'product' can be substituted to... Read More
With a heightened awareness of opportunity, ideas can often be... Read More
The first task before hiring a contractor for home remodeling... Read More
How you finance the expansion of your business is important.... Read More
A menu is the foundation of any restaurant; Guests will... Read More
If you are looking for a partner, funding, angle investor... Read More
I'm not talking about posting the HBO schedule on your... Read More
Succession planning requires the owner of a small or medium-sized... Read More
One of the difficulties we face in our industrialized age... Read More
A focus group is a group of employees or current... Read More
One of the key challenges for any business is to... Read More
Is your business growing as fast and effectively as it... Read More
Every business experiences slower periods. For some, they sell more... Read More
The decision to sell, or not to sell your business... Read More
Business owners and entrepreneurs are, by nature, risk takers and... Read More
Microsoft Great Plains, former Great Plains Dynamics is excellent fit... Read More
Let us look at a few of the big distribution... Read More
Microsoft Great Plains fits multiple services market niche and healthcare... Read More
So what makes a vision successful? Everyday companies try to... Read More
"Begin with the end in mind," says Stephen Covey in... Read More
Before becoming a netpreneaur, I was an entrepreneur. First, I... Read More
"I don't need a business plan."Neither did Alice in Wonderland."Would... Read More
When in doubt, cut that out! Yeah, yea, doubting Thomas... Read More
All investors greatly desire and are motivated by a clear... Read More
If you own a mobile car wash business or auto... Read More
Strategic Planning |