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ilya

Ask for it and you will get it

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What's the difference between a store that sells clothes for $1 versus a store that sells the same clothes for $100? Most of the clothes being sold are of mediocre quality, but it's the small things that raise their value.

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If you have a nice logo, good colors, nice bags and a pleasant shop to walk in, you're already in a different league. The same rules apply on the internet. There are the cheap ass $1 backlink services, and there are the $500 per week backlink services. I would bet it wouldn't take much of an effort for the $1-service providers to upgrade their mindsets and business plan. It's just the small details that make a huge difference, the way you talk to your customers, the way your website looks like and so on.

"The people who have much are the ones that deserve even more." It's an ancient phrase, and it's how the universe works. How more tempted are we to buy an iPhone over an unknown Chinese brand? We rather give $700 to a big wealthy company, than risk it on a startup. And this is where the beauty is! Even if you're broke, you can apply this in any situation. Appear to be rich and you shall attract riches.

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This may sound like a bit of nonsense and not really practical in a direct way, but if you give it a thought, it's an amazing psychological tool. In my case for instance; I was thinking about the price structure for PinBot: should it be a monthly subscription or a one-time fee? For some reason I decided to go for the one-time fee, because I've read that people don't like to pay monthly fees, they rather pay one-time. Whether this was a good or a bad move, I don't know, but after some calculations it turned out that a monthly subscription might've been a lot better (financially wise).

The reason I'm saying this is because I had to have something that the competition didn't. One of the few things that I did was to set a very high price, more than 2,5 times what the competition was selling their bots at. Or something that was equivalent to 6 months of a standard monthly fee. As you've read in the previous post, the current value of the PinBot product is $179, while some competitors are selling it at $79 one-time, and some even at much lower monthly subscription fees.

Of course I didn't get to that price overnight, I went from $59 to $79, then to $109, $129 and finally arrived at $179. This is also where it'll stay for a while. I have A LOT of customers complaining that the price is too high. Well maybe, but the reality is, it isn't too high. Those that complain just can't afford it. Those who do have the money, and that's almost anyone, have at least $200 on their bank account to spare for these kind of expenses.

Just as a side note, I'm not only selling the bot for $179 but also a premium membership access to my private blog where I share tutorials and guides for Pinterest marketing. And first class support of course, anyone can add me on Skype, ask me questions all night long or fill my inbox with emails. I don't mind it, because the amount of time I spend "working" versus the amount I receive in "payments" feels like 1:1000, seriously. I'll tell you more about the details in a future post.

    "Raise your prices"

How often do we go to a store and end up buying the most expensive watch, wallet, shoes, jewellery or phone? Not just because it's "that" much better than anything else, not that it looks "that" much better. It just has a few silly details on it, or it could be a beautiful packaging, it looks much more "expensive" than anything else. This "expensive" phenomenon is a very strong stimulating factor, it makes the buyer feel very exclusive and special. So in most cases (98%), the customer does have the money to buy that item, but the "stimulating factor" is not high enough to make the purchase. So the first rule in increasing your ROI: add a few more details that give a sense of "exclusivity", just a some value that the competition isn't offering.

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It may sound frightening to decide to double your asking price overnight, but trust me, you won't regret taking that risk. And if it's too high and no one ends up buying, even after you've optimized everything you could; you can always go back to the old price structure. But if you don't try, then you'll always remain stuck at the level you're at. You can't grow by downsizing; neither can you grow by asking for less money. Ask for more and you shall receive!

 

 

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