Podbean logo
  • Discover
  • Podcast Features

    Your all-in-one podcasting solution.

    Podcast Studio

    Easy-to-use audio recorder app.

  • Livestream

    High-performing audio live, without limits.

  • Podcast App

    The best podcast player & podcast app.

  • Ads Marketplace

    Join Ads Marketplace to earn money
    through sponsorship on your podcast.

    PodAds

    Manage your ads with dynamic ad insertion capability.

  • Patron & Paid Content

    The seamless way for fans to support you directly
    from your podcast.

  •  
  • All Arts Business Comedy Education
  • Fiction Government Health & Fitness History Kids & Family
  • Leisure Music News Religion & Spirituality Science
  • Society & Culture Sports Technology True Crime TV & Film
  • Live
  • How to Start a Podcast
  • How to Start a Live Podcast
  • How to Monetize a podcast
  • How to Promote Your Podcast
  • How to Use Group Recording
  • Log in
  • Start your podcast for free
  • Podcasting
    • Podcast Features
    • Live Stream
    • PodAds
    • Podcast App
    • Podcast Studio
  • Monetization
    • Premium
    • Patron
    • Ads Marketplace
  • Enterprise
  • Pricing
  • Discover
  • Log in
    Sign up free
The Fearless Business Podcast

The Fearless Business Podcast

Business:Marketing

The Surprising Benefits of Having an Expensive Product

The Surprising Benefits of Having an Expensive Product

2022-02-11
Download

Essentially buying expensive things gives you pleasure, so we can apply some basic principles to our products in business as well. In short there are surprising benefits to having an expensive product in your suite of core products.

In this episode I talk about:
  • The blind taste test of two bottles of wine - essentially scientists switched the labels on two similar bottles of wine and the most expensive still came out on top both times
  • Apply Pareto's 80/20 principle to your suite of core products - focuses on increasing profits by removing the 20% of products producing the lowest profit
  • Also 80/20 your clientbase by removing the 20% of clients who contribute the least profit to your business to increase profits and create more time for yourself
  • Sometimes you can leverage high-priced products that don’t sell very often:
    • Mobile phones (iPhone, 128gb @£949, 512gb @£1249, 1tb @£1449)
    • Cars
    • Coffee
  • Communicate expertise, Costco sells a $600,000 diamond
  • Prestige - Think Jack Daniels Black Label versus Single Barrel ($50 a bottle), Silver Select ($120 a bottle) or even Sinatra Century ($600 a bottle)
  • Use Expensive Products as a Gimmick to Create Free Publicity - the £8,000 haircut in the Guiness Book of Records
Why most business don’t have a super expensive offer:
  • Because they don’t think anyone will buy it
  • But because it’s not on the shelf nobody EVER WILL BUY IT!
  • Frank Kern talk about “putting offers out there”
To find out more about Fearless Business:

Join our amazing community of Coaches, Consultants and Freelancers on Facebook:
>> https://facebook.com/groups/ChargeMore

And check out the Fearless Business website:
>> https://fearless.biz

view more

More Episodes

How to Scale Through Sales - Andrew and Pete
2023-05-10 66
Setting Objectives and Key Results - Paul Wilson
2023-03-27 71
The Challenges of Being a Man in Today’s World - Craig White
2023-03-14 77
Should I Put My Prices on My Website?
2023-03-07 94
Why £1 Saved Means £2 Less to Earn
2023-02-28 93
The Data Driven Agency - Marcel Petitpas
2023-02-22 107
Latent Demand - Stop Putting Out Rubbish Offers
2022-12-06 132
How to Set Your Coaching Prices When Starting Out
2022-11-09 137
Developing a Winning Mindset - Paul Wilson
2022-07-07 230
Why Every Coach Can Benefit from Writing a Book
2022-03-18 159
Marketing with Webinars - Tom Poland
2022-03-15 212
Competitive Pricing - Advantages and Disavantages
2022-03-11 139
What are the Biggest Challenges in Lead Generation
2022-02-18 146
How to Attract Your Ideal Client - Arfa Iqbal
2022-02-08 159
The Perfect 5-Step Marketing Funnel
2022-02-04 151
The Elevated Entrepreneur - Jake Kelfer
2021-12-14 240
How To Find Your Ideal Client TODAY
2021-12-10 156
Change Your Game - Baiju Solanki
2021-12-07 202
What Does Sales Confidence Look Like?
2021-12-03 177
  • ←
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • →
0123456789101112141516171819

Get this podcast on your
phone, FREE

Download Podbean app on App Store Download Podbean app on Google Play

Create your
podcast in
minutes

  • Full-featured podcast site
  • Unlimited storage and bandwidth
  • Comprehensive podcast stats
  • Integrate with iTunes and Google
    store
  • Make money with your podcast
Get started

It is Free

  • Podcast Services

    • Podcast Features
    • Pricing
    • Enterprise Solution
    • Private Podcast
    • The Podcast App
    • Live Stream
    • Audio Recorder
    • Remote Recording
  •  
    • Create a Podcast
    • Video Podcast
    • Start Podcasting
    • Start Radio Talk Show
    • Education Podcast
    • Church Podcast
    • Nonprofit Podcast
    • Get Sermons Online
    • Free Audiobooks
  • MONETIZATION & MORE

    • Podcast Advertising
    • Dynamic Ads Insertion
    • Patron Program
    • Affiliate Program
    • Switch to Podbean
    • Submit Your Podcast
    • Podbean Plugins
    • Developers
    • Badges
  • KNOWLEDGE BASE

    • How to Start a Podcast
    • How to Start a Live Podcast
    • How to Monetize a podcast
    • How to Promote Your Podcast
    • How to Use Group Recording
  • Support

    • Support Center
    • Podbean Blog
    • What’s New
    • Free Webinars
    • Podcast Events
    • Podbean Academy
    • Podcasting Smarter
    • Resources
  • Podbean

    • About Us
    • Careers
    • Press and Media
    • Green Initiative
    • Contact Us
  • Privacy Policy
  • Cookie Policy
  • Terms of Use
  • Consent Preferences
  • Do Not Sell or Share My Personal information
  • Copyright © 2006-2023 Podbean.com