Before being a Luxury Internet Marketing Coach, I’m first and foremost a lifelong student. And my most impactful mentor is none other than direct response marketing legend Dan Kennedy.
One of the greatest lessons Dan taught me is to never run from price. See, when the going gets tough and the economy takes a (bleep), most online entrepreneurs immediately freak out and consider lowering their prices or giving away more for the same price (essentially devaluing their core product).
This is an incorrect and detrimental way of thinking. Firstly, it’s what everyone else does, meaning you’re essentially going to commit price war suicide. There will always be someone desperate enough to charge less. The back and forth price slashing battle will ultimately leave you flat broke, unless your name is Sam Walton.
So if you’re struggling to make sales as an affiliate or product owner, what’s the solution?
It’s a matter of understanding the real problem.
According to Dan, you don’t have a “pricing problem” — you’ve got a “prospect problem.”
And if you think about it, this makes total sense. Getting shot down left and right by website visitors who’re giving feedback that they can’t afford what you’re selling does NOT mean the price is too high. It means your marketing efforts are driving piss poor traffic to your offers.
The fix is therefore incredibly simple: target the most ideal BUYERS who will have no price objections, regardless of the state of the economy.
This means reevaluating your initial market research, digging for better keywords and adjusting your Internet campaigns to filter out tire kickers and draw in legitimate leads.
That’s today’s quick tip from me, from Dan.
Be sure to stay tuned to my Renegade Millionaire post to keep tabs on Dan’s upcoming “recession-made” online millionaire product launch. Even if you aren’t interested in purchasing, you’ll learn a lot from watching the pre-launch videos. Pay close attention to the copywriting skills at play…