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The Magic Cafe Forum Index » » Tricky business » » Pro's & con's of advertising your price (13 Likes) Printer Friendly Version

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Mindpro
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Quote:
On Oct 16, 2021, danfreed wrote:
Just saying businesses need to see things from the customers perspective, not just their own, then make a decision.


I agree but more than likely not in the same way you are thinking or have stated.

I remember those threads Donald and I too like the mentalities and some of the approaches of Gitomer. While I disagree with some of his ideas as it pertains to selling entertainment, his concepts and basic principles are good.

One of those threads was about qualifying prospects to determine who was shopping on price alone and being willing to walk away from those prospects.

I also agree on the value vs. price selling. Your pricing should be based on your value and if you then are too quick to give your pricing without establishing your value, you lose. On top of that as others pointed out, they will likely be the problematic, pain in the neck gigs you will likely regret.

The point many miss is WE have control of when we present or offer our pricing. Donald chooses to do it on his site upfront. I and others believe in informative or educational selling which presents and positions your value perfectly while doing so.

Also, since I get approached by dozens of performers each year, what, when and how they the present their pricing to me is a great consideration.

Part of thinking from the customers perspective...truly understanding their perspective, is knowing that they likely know very little about researching or hiring an entertainer. Knowing this, we work from this premise and it ALWAYS ends up working out perfectly for the customers point of view. We tell them things they themselves had no ideas they would be asking or wanting to know. As an expert or professional, we need to know things before even they do. Trust me, they will thank you for it and you will have a client for life.

When doing this, price becomes maybe the third or fourth factor of importance to them. Most only shop on price or ask about price because that is typical default consumer mentalities towards shopping. It's up to you to present that entertainment is different and here's why.

Just this week I had a bride and groom-to-be, along with her mother contact me inquiring about their wedding. She said, "I know nothing about you or what you offer, but your name has come up three or four times by others I've met or talked to in other discussions. Why is it so many people referred you? What is it you do and what do you charge?"

After a 12-minute discussion they said "now we see why everyone rant and raved about you and how you are entirely different from others we looked into. I had no idea of many of the things you mentioned and the fact it would have on us, our families, our guests, and the greater overall picture. They were informed, educated, and presented with the facts and the price. Needless to say we booked their entire reception - cocktail hour entertainment, a caricature artist, a feature performance after dinner, and then the music for the rest of the night. Later that day they contacted us for the grooms' company holiday party too. Those 12 minutes, presenting the value, price, and operating entirely from the customer's perspective resulted in a $6300 booking and another $1500 booking, and likely a return client for life.

None of this is possible when offer your price too soon in your process, or worse yet having no booking process at all.

Well this was a wedding, but we do the very same thing with our kids parties, school assemblies and fundraisers, and every other consumer marker we serve.
Dannydoyle
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I was just about to type all of that.
Danny Doyle
<BR>Semper Occultus
<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
Mindpro
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Glad I could Help. After your previous (rare) lengthy-post I imagined it tired you out and you were taking a nap, so I thought I'd help.
Dannydoyle
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Yea I needed oxygen after typing that much
Danny Doyle
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<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
TomBoleware
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Quote:
On Oct 17, 2021, Dannydoyle wrote:

The above post from Tom is one of the largest reasons people LOSE SALES.



Really, why would seeing things from the customers' perspective cause you to lose sales?

Seems to me understanding the customers would be a big help.

Tom
Today I bent the truth to be kind, and I have no regret, for I am far surer of what is kind than I am of what is true.--Robert Brault

Tom Boleware
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Dannydoyle
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Quote:
On Oct 17, 2021, TomBoleware wrote:
Price is a concern to every shopper and until that concern is put to rest they hear very little of what the salesperson is saying.

Tom

Ok Tom AS ALWAYS you are just going to push and drag this out into the swamp to drown.

THIS sentence is what will cost folks money as Donald has pointed out, Mindoro and myself.

I illustrated how getting price out there before they know value is expensive for the seller. I illustrated exactly why this is so. You have been given more information than needed here so stop trying to pretend it is a good thing.

Stand behind this sentence all you like. This is tire viewpoint, though you have given no reason or examples of why it is good. Just offered useless platitudes and rah rah stuff. Advertisers spend millions to show value prior to giving prices at a store. Brands are all about building value before knowing price. Just because you don’t understand the concept doesn’t mean it isn’t how it works.

Please let this go. Don’t ruin this wonderful lesson. Please please please let it go.
Danny Doyle
<BR>Semper Occultus
<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
TomBoleware
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Danny, Danny, Danny. Do you really think people will sit there and listen to you go on and on about how good your product is without them thinking, “how much is this going to cost”

ALL I’M SAYING is this, why not kill that thought beforehand so they can clearly hear all you have to say. And yes there are many ways to do that without quoting a price up front. Its simple really.

This is why understanding how real customers think is IMPORTANT.

Tom
Today I bent the truth to be kind, and I have no regret, for I am far surer of what is kind than I am of what is true.--Robert Brault

Tom Boleware
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Dannydoyle
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Oh stop the pandering Danny Danny Danny nonsense Tom. Unless that was you having a stroke then I am sorry. NOBODY here except your imaginary friends see you as some sort of guru. Every post you make simply proves them right.

You can not worm out of it Tom. IT IS NOT SMART to open with price and that is the end of it. YES I DO KNOW FOR A FACT that folks will sit and listen about how you add VALUE to what they want. YES LOOK AT ANY INFOMERCIAL TOM! THIS IS HOW THEY ARE DESIGNED!!!!!!!!!!!!!! Yes Tom people want to hear about value. You need to make it a good pitch yes, but that should go without saying. If nobody wants to listen to YOU express YOUR value, that is a problem you should learn to deal with. It is no way means OTHERS more talented at doing so or with more to offer perhaps can't keep people interested, engaged and asking BUYING QUESTIONS. When you break it down to the ONLY buying question is "how much" I simply believe you have failed.

Oh and a further misunderstanding you seem to have is you don't go on and on about how "good your product is", you communicate the VALUE THE CUSTOMER WILL RECEIVE. It is about THEM not about the product. Look into a "features and benefits" sales class from Xerox.

I can't believe you are going to keep droning on and on and on and insist somehow you have a valid point. Why do you think car dealers don't want to give you price, but want to work on what is INCLUDED IN THE PAYMENT? THE PRICE SCARES PEOPLE, the value makes them feel good about what they are buying.

I can see why you want to center on the "understanding how customers feel" part of your post. Sure great understand them all day. BUT THEN you go on to PROVE you have absolutely ZERO understanding of customers and what they are looking for. No Tom I am sorry but giving a price up front does EXACTLY as I said earlier and has folks say no before you even have a chance to talk to them. It IS SIMPLE and you want to argue because you have backed yourself into a corner and won't admit you made a mistake.

OK Tom we get it. You will NEVER see any other point of view no matter how well reasoned and correct. Please I am begging you don't keep doing this. We get your point of view. Give them a price up front and understand your customer. So for the love of all things please just quit now. Please stop ruining this and making people stop reading. This can really be a good conversation. Let it be a good conversation just once PLEASE.
Danny Doyle
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<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
TomBoleware
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I said nothing about giving a price upfront. But I can assure you that when somebody calls wanting to know your price and you respond with a ‘shut up and listen first’ approach they will hear very little of what you’re saying. Price is on their mind the whole time you are rambling.

But hey, no problem here, just keep on rambling and losing those sales.

Tom
Today I bent the truth to be kind, and I have no regret, for I am far surer of what is kind than I am of what is true.--Robert Brault

Tom Boleware
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Dannydoyle
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Quote:
On Oct 18, 2021, TomBoleware wrote:
I said nothing about giving a price upfront. But I can assure you that when somebody calls wanting to know your price and you respond with a ‘shut up and listen first’ approach they will hear very little of what you’re saying. Price is on their mind the whole time you are rambling.

But hey, no problem here, just keep on rambling and losing those sales.

Tom

Nice strawman Tom. NOBODY SAID "shut up and listen first". YOU MADE THAT UP so you can feel better about your position.

YOU SAID TO GET PRICE OUT OF THE WAY! I explained why that was wrong, you then mischaracterize my position as well as others.

NOBODY is losing sales but YOU Tom. People do not call me up and ask for a price. The point you miss, one of many, is that the WAY YOU GET THEM TO CALL IN THE FIRST PLACE will keep the price issue in abeyance while you are setting value. (This is basic stuff that a guru like you should know Tom.) When you sell based ON PRICE yes folks call up asking how much. YOU CAUSE THIS by the way one gets the phone ringing. But it can be AVOIDED before it ever happens in most cases. Again Tom basic stuff that a guru should just know.

Could you PLEASE just stop now? No more making up stuff I said, no more strawman stuff. Just stop. We get your position.
Danny Doyle
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<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
TomBoleware
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No Wrong again, I never said get ‘price’ out of the way, as in quoting a price. I said ‘concern’ there is a difference.

And yes you are saying even right here in your responses ‘to shut up and listen’

Maybe that’s why I can’t hear you. Smile

Tom
Today I bent the truth to be kind, and I have no regret, for I am far surer of what is kind than I am of what is true.--Robert Brault

Tom Boleware
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Fedora
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In answer to the original question, and being clear I am not an expert on market
Positioning like some folks here. There is a simple way an individual can figure
What works for them.

For a month track how many folks visit your website, this is your 'traffic', divide that by the amount
of folks who used your contact form. This percentage is your 'conversion rate'.

Edit yor site to include prices for a month, and compere conversion rates.

If one is significantly more stick with it.

There is some other statistics you should track at the time,
such as how many of these contacts are leading to bookings.
(as a matter of fact this is more important)
Dannydoyle
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Quote:
On Oct 17, 2021, TomBoleware wrote:

Price is a concern to every shopper and until that concern is put to rest they hear very little of what the salesperson is saying.

Tom


Now you want to play the Greg Brady exact words game Tom?

OK THIS is what you said EXACTLY. Price is a concern. Got it we are talking about price. And until THAT CONCERN, which is PRICE as is in the earlier part of the claim, they hear very little.

So Tom YOUR EXCUSES ARE BAD.

Again Tom I get it. Nobody wants to listen to you about what value you provide. This is your personal experience. You can not keep them interested enough in your value. Got it. So you go with putting price up front. Got it.

NOW PLEASE STOP and make no more excuses. You are ruining good information. All the silly smiley faces and all the aw shucks stuff won't pull this back Tom. You are now just proving your inability to admit you are wrong.
Danny Doyle
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<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
Dannydoyle
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Quote:
On Oct 18, 2021, Fedora wrote:
In answer to the original question, and being clear I am not an expert on market
Positioning like some folks here. There is a simple way an individual can figure
What works for them.

For a month track how many folks visit your website, this is your 'traffic', divide that by the amount
of folks who used your contact form. This percentage is your 'conversion rate'.

Edit yor site to include prices for a month, and compere conversion rates.

If one is significantly more stick with it.

There is some other statistics you should track at the time,
such as how many of these contacts are leading to bookings.
(as a matter of fact this is more important)

This may be a good start but there are factors like time of year that play a significant roll.
Danny Doyle
<BR>Semper Occultus
<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
TomBoleware
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Yes Danny, I was wrong, I should have known not to disagree with anything you say. I know you do a lot of kid shows and have parents calling all the time wanting to know how much you charge.

Now before you respond with, I don’t do kid shows let me remind you this is what this topic is about. It’s been about that throughout, since May 4, 2013. Learn to read before responding Danny.

Tom
Today I bent the truth to be kind, and I have no regret, for I am far surer of what is kind than I am of what is true.--Robert Brault

Tom Boleware
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Dannydoyle
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So that is your latest excuse? Suddenly people looking to have birthday parties are different? Donald and Mindoro book plenty of kids shows.

Next excuse Tom?

Let’s also not forget you don’t do any shows at all.
Danny Doyle
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<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
TomBoleware
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Danny, let me try to explain one more time so you can stop twisting everything I say.

True Donald does some kid shows, he has a price on the website, when parents call he doesn’t have to worry about a price objection, they already know the price, they wanting to know what they’re getting for that price.

Mindpro, on the other hand, doesn’t list a price, many will call just wanting to know his price, he has to explain both, price and value. His thinking is that by not listing a price he will get more calls and therefore have more opportunities to book a show.

I'm neither for or against listing prices.

My position is, I believe when someone calls wanting to know your price, you need to somehow carefully assure them UPFRONT that your value will justify the price, whatever that might be. You don’t want them thinking all through your pitch “how much is this going to cost” OR “how can I tell him I can’t afford it” BECAUSE that is exactly what many are thinking during your presentation.

I personally do it something like this, “my price is not the cheapest, nor am I the highest, but I do think I offer a lot that others don’t offer, this is what I…………

Danny, you are welcome to do it any way you like.


Tom
Today I bent the truth to be kind, and I have no regret, for I am far surer of what is kind than I am of what is true.--Robert Brault

Tom Boleware
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Dannydoyle
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You don’t have a price. You don’t work professionally.
Danny Doyle
<BR>Semper Occultus
<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
TomBoleware
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Danny, you’re so rude it's sad. It still amazes me you are allowed on here.

Tom
Today I bent the truth to be kind, and I have no regret, for I am far surer of what is kind than I am of what is true.--Robert Brault

Tom Boleware
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Dannydoyle
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So the truth is rude? I was attempting to just be clear. You do not have a price. It is that simple.
Danny Doyle
<BR>Semper Occultus
<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
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