I am happy to announce I have launched a new website that will be dedicated to Online Start-ups's, SEO and Online Marketing. Here is a Sneak Peak at the first in a series of blogs I am writing about the characteristics of a successful entrepreneur. I hope you like it and come back more!
Click on the link below to read the full article.
There is a trend I have noticed emerging from social media for service businesses: we are giving too much information away for free. We lull ourselves into giving away services and expertise that we should be charging for. Before we know it, no one wants to pay for what we have to offer.
Does this sound familiar? You try to gain attention to your business by running a smart campaign where you offer a sampling of your service for free - maybe it’s a free consultation or download - and the people who take you up on your offer enjoy it, but never come back for the paid service. Why?
Maybe they have gone on to someone similar to you for another free sampling? Maybe they feel they got exactly what they needed from the initial free service.
Maybe people have now come to expect to get something for nothing.
There is psychology involved in this. You have heard the saying “you get what you pay for”? What do you think people perceive they are getting when it is free? I think most of us assume that something that costs more must be worth more – we attribute expertise we may not even know about to the person who is charging higher than the other. This is a psychological effect called prestige pricing, which points to a strong correlation between perceived product quality and price. The higher the price the more likely customers are to perceive it has higher quality compared to a lower-priced product. According to psychologist Dr. Peter Shallard, “Being expensive cultivates an aura of expert and elite status”… “setting your price is the psychological equivalent of setting the value of YOU. Your life, your work, that thing you’ve poured your energy and soul into.” He recommends you ask customers who don’t want to pay your set value what they are comparing your price to; you and they may find it is not apples to apples. When Shallard first asked this question he found out his life-changing services were being compared to piano lessons!
Doing a study on cognitive biases can be very enlightening for an entrepreneur.
But with a tough economy people have been forced to settle for less and to become used to it. And maybe we have convinced ourselves we are worth less in the process. So if you are going to offer something for free or discounted, what should you do?
If you don't want to believe the psychologists, why not listen to conventional wisdom? This is just one more example of my belief that SEO and Online Marketing rules are like dating ... what is it your mother always told you about why buy the cow and giving away its milk?
Is this just a social media problem?
Was this caused by social media and or the economy?
What are your thoughts?
Here are some other good links regarding this subject:
I am so excited to announce the launch of my newest logo and website design for Leslie Traill's brand new venture Sexy Over Sixty. Just when I thought I had run out of ideas for a new website design, Leslie's logo colors and beautiful pictures inspired me to come up with something new and tastefully simple to let Leslie's beauty and vibrancy shine! Good luck Leslie!
Check out www.sexyoversixty.com!