I was teaching a class about Super Customers recently in my Brilliant Business Academy and a lady asked a really good question at the end.
She said something along the lines of “I make keepsake bears. I couldn’t afford one of my bears. I don’t think people will pay my prices”
Woah! That is a biggie. We had a talk about it on the call. Let me tell you how that went.
There was a whole lot going on here, as you can tell.
This lady – we’ll call her Pam – creates amazing keepsake items and focuses on teddy bears made from items of clothing.
Some of her customers want their child’s baby clothes made into keepsake bears.
Some customers though, have lost loved ones, from babies and children to parents and siblings and want a keepsake bear to hold, to remember their loved one by.
Pam doesn’t just whiz them together. She has special touches she incorporates into her keepsakes, things that make them unique and even more valuable to her customers. The quality is amazing. Her service is amazing. The feedback she gets is amazing.
Some people think she is too expensive, but they are not her Super Customers. Other people think she is worth her weight in gold because she creates something precious to keep when they are going through a sad and tough time – the cost isn’t vaguely an issue.
So why does she think her customers won’t pay her prices?
Maybe because Pam’s confidence in herself isn’t great? Maybe a few of those ‘too expensive’ comments from people hit home even though they weren’t her Super Customers? Or maybe because at the moment money is a bit tight for Pam and luxuries like keepsake bears would be out of her budget for now.
Any of these would give you pricing wobbles. Combined, they are enough to make anyone doubt themselves.
And Pam could be any of us.
Depending on how we feel on a given day, our confidence in our pricing goes up, down and all around. If we’re feeling a bit broke and sales are thin on the ground, then we might assume everyone else is a bit broke too – our mind does that to us. It projects OUR money beliefs onto other people.
In other words ‘If I can’t afford it, then others probably can’t’ or ‘If I wouldn’t pay that, nobody else would’.
But you know that’s not true, don’t you?
People value different things for different reasons, depending on what is happening in their life.
If I’m not into cycling then a bicycle has no value to me. If my doctor told me to lose weight and get fit quickly, I would probably see the value in that bicycle and even think about upgrading it, because it’s something I need now.
If I haven’t lost a loved one then a keepsake bear might not even enter my thoughts. When I do lose someone dear to me, all of a sudden a keepsake bear seems like a wonderful idea and a way to keep a loved one close, even after they have gone.
And when I look for keepsake bears, I will have a choice. I might only be able to afford a ‘budget’ bear or I might decide to buy a really special one, like the ones Pam makes, even if I have to forgo other expenses or save up.
The thing is, you don’t know what I would pay more for.
You don’t know what I’d save up for.
You don’t know what I value or what is happening in my life.
You are not a mind reader.
All you can do is figure out your Super Customer and speak to them in your marketing.
In Pam’s case, her Super Customer is the bereaved person who is looking for a beautiful, special keepsake created with love and care by someone who knows how hard this is for them.
- Someone who can guide them through the process of selecting the best fabrics and the best types of clothing to choose.
- Someone who understands how precious these clothes now are
- Someone who will handle these precious clothes with love and compassion
Pam does that and her Super Customers don’t care that she is more than twice the price of some other makers.
It’s irrelevant to them. What matters is the experience and how it makes them feel.
So, Pam realised her fear that people wouldn’t pay her prices was unfounded. Actually, for her Super Customers the price is secondary.
All she has to do is speak to them in her marketing.
- She needs to tell them what she does, and why.
- She needs to show them how she creates beautiful keepsakes with care and compassion and tell them she will help them with the really tough bits.
- She needs to involve them in the journey. Tell them how it will work and how long it will take. Explain how they can add personal, special features if they want.
- She needs to show off her beautiful makes and her testimonials from happy customers.
- She needs to be proud of the difference she makes and the joy she brings at a difficult time.
- The LAST thing she needs to do is assume what they would pay, based on how she is feeling about money at the moment.
And even better, once she changes her marketing to speak to these Super Customers, who will be so happy they found her, she will sell more keepsakes and her money situation will improve. Win win.
And Pam’s question made me think of you.
- How often have you projected your money beliefs onto your customers?
- How often have you assumed people won’t pay *that much* because cash is a bit tight in your house at the moment?
- How often have you thought it’s not worth marketing your products or services because it’s too far from pay day?
- How often have you caved in and given discounts without thinking about how valuable your products and service really are, to the RIGHT people?
- Every time you do this, you are devaluing what you sell. Every time you do this you are letting your money beliefs hurt your business.
To the right people – your Super Customers – the price is secondary, because they VALUE what you sell. They might even forgo other expenses or save up for it. Imagine that. Best get stuck into Super Customer marketing, eh?
You are awesome.
Love, Claire xx
PS: That class about Super Customers I mentioned? It’s in my Brilliant Business Academy now and you can get a week’s trial for just £1 HERE. Hope to see you in there, I think you’ll love it!
If you liked this blog post, you will LOVE these easy-to-follow online training classes! Click the image to find out more.
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Claire Mitchell is a best-selling author of the Awesome Marketing Planner and founder of The Girls Mean Business, a mum and business owner. She has been featured in Marie-Claire, The Guardian, Closer Magazine, Essentials, The Huffington Post and on the BBC.