Have you ever wondered why some people will haggle over a few bucks on a product but will shell out thousands on another product without a second thought?
Here’s the difference:
One product provides a solution.
The other one justifies the customer’s actions, thoughts, or behavior.
Which do you think sells for more?
You see, we’re an irrational bunch by nature. We’ll go to the end of the world to justify a belief if it’s held enough.
Take the world of supplements for instance.
Despite most people knowing that consistent diet and exercise are the way to any fitness goal, supplements are still a multibillion dollar industry.
And it’s not because they work that well.
It’s because supplement companies have convinced consumers that they’re different.
That they’re special.
That all they’re missing one key ingredient.
And by adding that one ingredient/supplement/shake weight, everything will be ok.
Most importantly, they justify the consumer’s behavior.
They remind them about everything else they’ve tried.
It might go something like this…
“Have you tried every diet you can get your hands on? Have you spent hours slaving away on a treadmill without seeing an inch drop from your waist? Have you drunk enough water to satisfy an African elephant?
You see, while these are important, it’s only part of the equation. What Mr. Joe the Trainer forgot to tell you (or chose not to because it means more money for him), is that to have weight melt off you like hot butter on your mama’s biscuit, you need “Johnny’s Magic Potion”.
“Johnny’s Magic Potion contains 235 crucial vitamins that your body needs to shed fat. And without all those 235 crucial vitamins, your body hoards fat like a squirrel hoards nuts”
They justify your beliefs.
They show that why you’ve been unsuccessful really isn’t your fault.
It’s Joe the Trainer’s fault.
But by taking Johnny’s Magic Potion, you can finally lose weight.
Now instead of researching this product, if that sales letter falls in the hands of someone who has done every crash diet on the face of the earth but has yet to see results, they’ll shell out whatever they need to get Johnny’s Magic Potion.
The supplement company has justified the consumer’s beliefs.
Now the consumer can justify the price.
It’s not a marketing trick.
It’s human psychology.
Don’t mistake this for an evil magic trick (even though it’s easy to do with this).
Use it as a cattle prod if your ideal customer is sitting on the fence.
What have they tried in the past that got them to viewing your product/service?
Figure this out and your price no longer an issue regardless of what it is.