Meet Brian, of the Kidderminster Harriers Football Club. He sells the most expensive pies in football – at £4.50 for 800g of potato-topped meaty goodness, they certainly raise some eyebrows…
But they have a cult following in Kidderminster and Brian is proud of the fact that his amaze-pies are the most expensive around. They’re pricier than the grub you get at the Premier League matches.
Kidderminster’s pies are a whopping 350% more expensive than the cheapest pie around – Elgin City’s £1 wonder-pie.
But let me ask you this: would you rather munch on a top-quality pie that’ll fill you up and keep you out of the toilet, and pay £4.50? Or fork out a measly £1 for a pie of unidentifiable origins and questionable pedigree, and possibly spend the rest of the weekend on the john?
Surely, if the £4.50 pie is that delicious, it’s a bargain on a cold day, and presumably helps to alleviate the grinding misery of being a football fan. Ahem.
One of the things I’m always banging on about is premium pricing and premier positioning.
That is, ignoring what other people in your industry are charging – the mythical “going rate” – and being the most expensive. The most exclusive. The best. Because someone has to be… why not you?
Sure, you’ll get people complaining, but who cares? Let them complain, then toddle off to buyer low-priced tat from your not-competitors.
You’ll also get people happy – nay, ecstatic – to pay a premium for what you’re offering. Why? Well, some people just want the most expensive thing because it’s the most expensive (I don’t really get that, but it’s a thing).
Others equate price with quality which is usually (but not always) true. I’m one of them; if something’s too cheap, I look at it closely and frown at it suspiciously. Especially if it’s food. I don’t trust cheap food, after eating a cheap burger in Chester once then spending the rest of the weekend sobbing on or near the toilet. Worst. Food poisoning. Ever.
My point is this: if you raise your prices and put yourself at the top of the mountain, you’ll have fewer clients. But you’ll need fewer clients. You’ll also have fewer headaches and more time to do what you want to do.
Sounds great, doesn’t it?
Well, what are you waiting for?
Oh, I see – it’s scary, this premium pricing lark. I know. I still struggle with it. Luckily, it’s something I talk about extensively in my book Business For Superheroes. On pages 85–99, to be precise.
You’ll see why pricing yourself low isn’t just daft, it’s actually damaging to your business (not to mention your sanity) and why you don’t need permission to raise your prices (just in case, though, I give you my permission).
Anyway – you should get yourself a copy from here. Yes, it’s more expensive than your average book at £19.97. But it’s the practical and instructive tale of how I went from struggling along bringing in £2k a month to turning over £120k + last year. And if I can do it, you certainly can.
So get your copy here, if you haven’t already.
Vicky Fraser is a copywriter, author, and entrepreneur. She really did run away with the circus… but when she’s not swinging from a trapeze, she’s showing other copywriters and small business owners how to work with better clients, make more money, and stop missing bathtimes, first words, and dinners with angry partners. In fact, she wrote the book on it. Get your copy here.
PS As an added bonus, you get automatic (and free) membership of the Business For Superheroes Club, which gifts you a four-page printed newsletter through your door every month. It’s packed full of useful business and marketing advice, plus some “just for fun” stuff and a competition. If you’ve got the Kindle version of my book, drop me a line with your postal address and I’ll add you to the Club – free of charge.