If you want to discover how to sell and become a rock star when it comes to selling, then you have got to read this post.
If you get the concept I am about to uncover in this post, not only would you discover how to sell effortlessly, but you would also be able to sell at the price you choose.
A Story on How to Sell
On the 15th of May 2017, Los Angeles International Airport opened a new terminal called The Private Suite.
The private suite is a premium lounge at the Los Angeles International Airport.
The following are some of the benefits of using the private suite;
- Customers can enter the airport through a private gate, far from traffic.
- Customers get driven on the airfield directly to and from their commercial flight.
- Customers get cleared at customs and immigration quickly and privately.
Keep in mind that the customers are not flying private jets; they are flying commercial.
They only use the private suite to get access to the benefits I already mentioned.
Now, take a quick guess of how much you think the private suite would cost.
Seriously, take a guess, I’ll wait.
Except you already knew about the private suite, I can safely assume you were wrong in your guess.
That is because the annual membership to the private suite is $7,500.
And customers would still have to pay $2,700 every time they fly locally and $3,000 every time they fly internationally.
Non-members pay more.
As ridiculous as this cost may sound, they had and still have enough patronage to stay cash-flow positive.
You may be wondering why someone who is flying a commercial flight with everybody else thinks it makes any sense to pay as much as $3,000 for a lounge at the airport.
That is what happens when you know how to sell at your price point.
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How to Sell, the Private Suit Way
The genius was in the crafting of Private Suit Marketing.
They used the Marketing strategies known as Anchoring and the Contrast principle.
If you do not understand what anchoring is, read the 3 simple but effective ways to negotiate a deal.
In their Marketing, they informed their prospects that flying on a private jet for 1 hour costs about $5000 – $6000.
The above meant that flying on a private jet for 4 hours would cost about $20,000 plus one heck of a bumpy flight because of the usually small size of private jets compared to commercial planes.
So, they promised a better flying experience than flying on a private jet – in and off the flight.
Off the flight, they said their customers would get access to a premium and private lounge and in-flight, they would fly a bigger plane with fewer bumps.
So they anchored their prospects on $20,000 for flying a private jet and contrasted it with getting a better experience off and in-flight for just $3,000.
It made paying $3,000 for a lounge seem reasonable and economical.
It made sense to their target audience.
So here’s a question for you, how can you use anchoring and price contrast in your business?
Think about the gap in a more expensive product or service in your niche and how your product can fill that gap
Then use anchoring and price contrast to your advantage.
I would love to be able to brainstorm with you on more creative ideas that would drive traffic to your business, be part of my private community by joining the giveaway contest.
You may need to reread this post and download the PDF version of this post so you can always refer to it.
Wrap your head around how to use anchoring and price contrast effectively, and you’ll be amazed at how much better you’d get at closing deals on your terms.
What was the A-HA moment you had when reading this post?
I’d love to read about it in the comment.
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