Last month in this space, I used the analogy of a red velvet rope to talk about brand value. You should be selective about who you serve because those customers affect the perception of your brand. I’m not going to re-hash the entire thing here, but I suggest you read Strengthen Your Brand With a Red Velvet Rope.
Now here’s an addendum to those thoughts within the framework of fearless marketing: turn down some business and raise your prices.
Turning Down Business
Who says you have to take all comers? Don’t be so desperate for money that you will take any project that falls in your lap. That smacks of fear and belies a lack of confidence in your product. Identify a strict policy of with whom you will do business and what projects you will accept. If anyone or anything falls outside of that criteria, don’t let them past the rope. Be fearless enough to turn down business when it doesn’t fit.
Raise Your Price
Almost everyone can raise their prices and get away with it. The only thing holding you back is fear that you will lose business to someone with a lower price. Well, let me justify your fear. In this copycat economy someone, somewhere can and will offer a lower price than you. And there’s nothing you can do about it. So you may as well increase your price tag and make a little extra money. Raising your price forces you to focus on the perceived value of your offering, not the price of your offering. Be fearless enough to have the highest price.
Still to add to your fearless marketing arsenal: A Torpedo.
Related articles on Fearless marketing:
Fearless Marketing Tactic: Wear A Black Cocktail Dress
General George S. Patton, William Elphinstone, and Barney Fife
Lessons in Fearless Marketing From Mark Twain
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