Recently, I had the idea to take a bunch of my previous emails on the topic of pricing and positioning, and to write a book titled “Charge More,” or something like that.
The basic idea being, charge more for what you offer.
But like “Just Do It,” “Charge More” is one of those bits of good advice that people nod their heads to in agreement, but rarely actually follow.
So rather than just repeating “Charge More” for 150 pages to no effect, I figured I would take a bunch of emails I’ve written, with distinctions and stories, to both inspire people to raise their prices, and to give them tips on how to do so in various situations.
And now that I’ve given you that intro, it seems a good time to share a story by sales trainer Dave Sandler, which I read in Sandler’s book You Can’t Teach A Kid To Ride A Bike At A Seminar. The story goes like this:
Sandler once gave a talk at a business convention, outlining his own homebrewed system for raising salesmen’s self-esteem.
Next day, Sandler flew back from the convention to his home in Baltimore.
At the time, all of Sandler’s business was local to Baltimore. He wasn’t expecting anything to come from the convention.
But the next morning, Sandler got a call from an excited business owner from Indiana, halfway around the country.
The business owner was there at convention. He said he took Sandler’s ideas back to his salespeople. He was flabbergasted at the initial results. He wanted Sandler to come out immediately and give his salespeople the full training.
While this guy talking, Sandler thought to himself, “Well! here’s a bluebird.” It’s like the guy had just flown in through an open window and landed on Sandler’s desk.
At the time, Sandler’s fee for a 2-day seminar in Baltimore was $2,500 dollars (this was in the early 1970s). He was simply waiting for the excited business owner to exhaust himself with talking, and then he’d ask for $2,500 plus travel expenses.
But the business owner kept talking, all about how much money he had spent on traditional sales training… and how happy he had been to hear Sandler speak on this topic, because Sandler was right, and others didn’t get it…
“I do have to spend the night at a hotel and away from home to teach this seminar,” Sandler thought. “Better ask for another $500 and make it an even $3k. I’ll do it once the guy stops talking.”
… but the business owner still kept on, all about the books and tapes and trainings he had purchased for his sales staff, and how none of it had worked… and how much it’s been hurting his business… and how it’s been driving him up the wall and he didn’t know what to do until now…
“I do also have to get on a plane for this,” Sandler thought. “Plus I’ll have to give up some selling time. I’ll tell him the price is $3,500, as soon as he slows down.”
… but the biz owner kept talking and talking, venting and venting, revealing and revealing. Sandler says it felt like the guy talked for an hour, even though it was probably only a few minutes.
Finally the business owner talked himself out. “By the way,” he said, “how much is this going to cost me?”
“$10,000,” Sandler said, “plus travel expenses.”
“Well that’s no problem,” the business owner replied. “How soon can you get here?”
I think there are lots of lessons in this little story. Let me just share one, right at the top, about how Sandler got a warm inbound lead, a bluebird who landed on his desk, ready to to buy without any sales call or persuasion or objection overcoming.
Sandler did it by flying across the country and getting up on stage and giving a talk.
That’s an effective way of getting warm inbound leads, if you’re willing to fly around and get up on stage and give speeches to crowds.
But the same psychology applies whenever you have a platform to speak from, even if that platform is entirely virtual, and even if speaking is really writing, like what you’re reading now.
The key is simply to build a mini-monopoly, a situation in which people in your audience have grown to trust you and to have a relationship with you and to want to work with you specifically, even if you have supposed “competition.”
All that’s to say, if you don’t consistently write daily emails yet, it pays to start. And if you want my help doing so: