I trust I’m not in the minority…
Perhaps you too love a hot cup of coffee to start out your morning.
Regardless, I’ve been a big coffee drinker for years now.
I had one of those Keurig machines and all that.
But recently, everything changed…
I was introduced to this “secret” world of high end coffee drinkers.
Let me explain…
My in-laws know I’m a big coffee drinker, so for Christmas, they bought me this fancy coffee machine.
Fancy, as in it cost $2000.
That blew my mind…
Who knew people would pay $2000 for a coffee machine?
Here’s where it gets crazier…
I went on Amazon and started reading all the reviews from the fanatical coffee drinkers.
And a lot of them were referencing other coffee machines they’ve purchased.
So I start clicking and seeing these $3000, $4000, and even $10,000 coffee machines people buy.
And they have DOZENS of reviews.
In some ways, this blows my mind.
In others, it doesn’t.
If the perceived value of your product or service is GREATER than the investment it takes to get it, people will BUY.
Why do people pay $25,000 for a watch when they could pay $10 instead?
Because to them, the watch is WORTH $25,000 or more, based on how it looks, makes them feel, and the status it gives them.
There will ALWAYS be people willing to pay top dollar (for ANYTHING).
That’s good news for you, because you basically have 2 routes you can choose in business:
* #1: You can undercut the market and be the cheapest (many people will buy because they want to save money).
* #2: You can find a passionate audience and make the perceived value of your product greater than it’s cost (this makes the price secondary).
Either model works and can make a lot of money.
This applies to ANYTHING:
* eCommerce: Think of a $25,000 watch versus a $10 watch.
* Information Products: Think of a $997 Facebook course versus a $27 Facebook course.
* Services: Think of an SEO company that charges $5000/month versus an SEO company that charges $199.
Enjoy your day (…and drink some coffee).
Officially a Coffee Snob,
P.S. – This week inside the Social Sales Growth Forum, I’m sharing how to use “promotions” to bring in a ton of sales to your business.
It’s a strategy I used for a client this past weekend to bring in 100+ new customers.
You’ll want to see this, so make sure to become a member today: