![\"How](\"https:\/\/homebusinessideas.com\/images\/increaseyourprofit.jpg\")
<\/p>\nDan Kennedy tells the story of one of his clients who ran an introduction agency for divorced American men to meet foreign brides. (This was during the pre-internet days.)<\/p>\n
<\/p>\n
Dan persuaded his client to raise his price from $395 to $3,995. (Not a typo \u2013 he multiplied his price by 10.)<\/p>\n
Would you like to guess what happened to sales?<\/p>\n
Believe it or not, they stayed THE SAME. But of course the owner made a LOT more money \u2013 ten times as much, to be exact.<\/p>\n
Most marketers look at what their competition is charging, and they charge about the same. But what they don\u2019t realize is their competitors probably did the same thing.<\/p>\n
There\u2019s a pizza place in a major city that has probably 100 competitors. Yet this pizza place outsells all of them, and does it without offering coupons or special deals, either.<\/p>\n
How do they do it? Positioning. They claim to be a \u2018gourmet\u2019 establishment, and they charge more than any of their competitors.<\/p>\n
Sometimes you just need to establish yourself as the premium option to set yourself apart. Other times you might need to add something to your product or service, such as personal involvement, to make it exclusive.<\/p>\n
If you\u2019re competing on price alone, you\u2019re never going to do well. But if you can reposition your offer so that you can charge more \u2013 maybe even twice as much or five times as much \u2013 then you become the gold standard that people want.<\/p>\n","protected":false},"excerpt":{"rendered":"
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