How to Attract Higher Paying Customers
Someone told me a long time ago that:
“You’re a walking billboard. What are you advertising?
What are you advertising by not saying a word?”
That means if you’re frustrated with trying to get higher paying customers, as well as higher paying clients, that means that something could very well be off with your brand.
Meaning, someone is going to your website or store and saying, “Oh. Cool. I’ll take 5 of those.” Or on the other end, someone is saying to themselves, “Yeah. I don’t think so.”
Here’s what I mean.
Let’s take 3 separate stores, owned by the same exact company, that caters to 3 separate kinds of people.
One is Old Navy. One is The Gap. One is Banana Republic.
Now, you probably know of each brand. Yet you’re probably unaware of how much different each individual brand is.
The easiest way to explain it, is by either going to their website or store to experience it yourself. Firsthand.
Old Navy? Let’s face it. It’s pretty cheap (for lack of a better word). Likely people who don’t care as much about quality as they do value – meaning how much they’re going to get for their money.
The Gap? Consider it one step up from Old Navy. Those who go there who probably care a bit more about value, style, quality and fit.
Yet, Banana Republic? Think of the business professional who needs to look good at their next interview or office meeting. And, stop into their store to see the level of service you get, versus Old Navy and The Gap.
Now, look at how each store prices their things.
Think Old Navy has Banana Republic pricing? Think Banana Republic has Old Navy pricing?
Of course not. The people at Old Navy would think you’re crazy for buying a pair of jeans for over $100. And guess what? The people at Banana Republic would think you’re crazy for buying a pair of jeans for less than $100.
What’s the difference?
Their brand. How they present themselves to their customers. The level of service you get (or don’t get). The kind of attention to detail (or lack thereof) of their clothes.
The kind of people who value certain things, over others.
It’s no different with your business or brand. If you’re trying to charge certain prices for your product or service, it’s not so much that what you created is bad. It just doesn’t look as if it’s worth it to the kinds of people you’re marketing to.
So how do you change that?
You change the perception.
You change how people view whatever it is you offer, by both giving AND showing you’re a better quality product or service over others.
Remember what Marty Neumeier said about what a brand is:
“A brand is a gut feeling about a product or service. It’s not what you say it is.
It’s what THEY say it is.”
And if people are or aren’t saying your product or service is worth it, for the kind of money you’re charging, then you have to do (or change) something about it to show that it is.