Make Your Products Specific
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The more specific you make your products, the higher the prices you can charge for them. Also, the more specific they are, the easier it will be to sell them. Why?
Here’s a story to illustrate. If I were selling a generic marketing program for small business I might be able to charge $99, but for the self-storage industry I can charge $297 and people don’t bat an eye. Why? Specificity. People who are in the self-storage industry will know (or believe) that they are going to get very specifically targeted help with their very specific problems from a seminar aimed at them. I might provide essentially the same information in such a seminar as I would, say, for people in the catering industry. But by carefully selecting examples, experts to cite, statistics to back up points, and inclass exercises to focus on their specific industry, I can create a highly targeted product, 80% or more of which is generic to all such products in my catalog.
I recently recorded a program with another speaker for just one gig in a niche market of mine. He is an expert in customer service and I know the specific industry. We recorded a program together and he ended up selling over $8,000 worth of products that I’m sure he wouldn’t have without the custom program we did.
He had over 1,200 people together for a keynote speech, so it was worth it. Now, that program can be sold for the next 3 to 5 years in that industry and continue to make money both of us.