We’ve all been mislead. And it’s hurting us. Sometimes badly.
I blame high school economics. You know what I’m talking about, right? Supply. Demand. That point on those graphs where the two lines cross? They’re telling us that there’s supposed to be a certain price out there that people are willing to pay. Forget that. You can do better. If successful businesses show anything, it’s that what counts is how you rise above that point on a line.
It kills me, when I hear people talk like it’s all about the way the economic winds blow and what the market will support, because there’s so much more you can do. Watch the video to see more.
At 2:37, I’ll tell you why it’s not just about quality.
At 3:16, I’ll tell you what you can learn from MP3s to improve your value.
And if you’re like me, and you’re a little tired of being compared to everyone else, then at 4:05, I’ll talk about the value shifting strategy and how to use it to set yourself apart. Starbucks used it. Most corporations use it. And you can use it to.
Check it out. Then come back for the next installment, when I’ll give you a single question that translates to real bookings.
Jeremy Sale says
Love your vids, Spencer. I can’t remember if it was Seth Godin, but someone once described the product you sell as a souvenir of the great experience you gave.
Spencer Lum says
Thanks! I love that description! I’m going to put it on my list of good quotes. 😉
David Medina says
Spencer, you are my hero. This couldn’t be more timely as I am working this week in next year strategies for my businesses. Thanks you so much. This info is priceless!
Spencer Lum says
Awww…shucks. Thanks David! Glad it was helpful!
Sonia says
This is a great video. Thanks again for the tips, I always love hearing what you have to say! Since I have a bridal show coming in less than a month, I will definitly work with these tips for the occasion.
Spencer Lum says
Thanks Sonia! Hope you knock ’em dead at the show!
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Rachel Havel says
I believe I have a challenging time communicating value. Isn’t it who we are that sets us apart, not so much what we offer?
A lot of my inquiries come back & say it’s budget, but the one’s that can afford me seem to “choose a different direction” & I don’t know why. I can imagine maybe the connection wasn’t there. Maybe I’m not communicating value clearly enough. It’s hard to know & completely frustrating.
Good food for thought.
Spencer Lum says
I think it’s true that who we are sets us apart. But, at the very same time, I think what we offer should be an extension of who we are, and even where offerings are the same, they should reflect positions that are true to our brand. I’ll talk more about this one in the future, though – I think it’s a very good point.
As for people who “pick a different direction” who do have the budget, next video, I’ll talk about a way to get started solving that. It’s only one basic phrase, but it really changed a lot for me.
Rachel Havel says
Awesome, & thank you!
Andrew says
Great message again Spencer.
What would you suggest to the photographer that deep down feels that they really don’t offer anything different or unique enough when compared to other photographers in the area?
Looking forward to the magic phrase in next episode.
Miguel Torres says
I use in my business a lot often this saying “once you feel it you start to believe it, once you believe it you start acting , once you are acting you start selling”
Spencer Lum says
Really like your saying, Miguel!
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Lanna says
This is the second time I watch this video. I like all your videos so much, because although I am confident about the quality of my work, I am a terrible “sales person”. So I’m struggling.
One thing I would ask is: most of the inquires now come through e-mail ou facebook messages. Personally I’ve been getting better, but only wedding clients want meetings.
How could we use this strategy (set aside anchors, show how we are unique, etc) in a simple and small message?
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