A Homeless Man Richard went viral and his paintings are off to $100, 000+ How? He actually never sold his art for more than $1, 000 but here is the reason why his paintings are off so much and how you can sell your products at 2x Price!
- Use Storytelling To Add Value
Richard's art is selling at luxury prices due to his Story of going from rags to riches.
Why Storytelling works?
Human minds are addicted to stories as our minds will never stop relating to them.
And that's why you need to use this art to make everyone relate to your product through stories.
A compelling Story 📃 = Product worth 📈
- Use Exclusivity Like Louis Vuitton And Supreme
They make their products so exclusive that people think they need to get that deal before they miss out!
What's this effect called?
Scarcity, many brands use the scarcity principles to market their products and charge more than manufacturing cost.
Some of the Scarcity principles used In marketing are making the product limited only, for certain community or Invite Only.
The Best Tactic out of all is to make it for certain community. Like most of the brands are launching special merchandise for Pride Community 🏳️🌈
- Level Up the Customer Experience
Most of the people visit restaurants based on what they have listened about it from customers.
Back In 2019, I bumped on a interview of A Dairy Store Owner with most amount of positive reviews.
He revealed that he never corrected the customer, If the customer says it's not worth. Accept it!
Why? Negative word-of-mouth marketing impacts more than positive.
• You give 1 customer free Toothpaste, He will tell 100 about that and you will see impact for 10-20 days.
On other hand, You give 1 customer a bad toothpaste and don't replace it. He will tell 100 about that and you will see impact for years!
🥂 The Better customer experience you provide, the more they will be willing to pay!
- Have A Great Product
I see people selling Air as product and it's selling fast 🚴三
Is it a great product?
Yes for nature lovers. Just like that, you don't need product that everyone loves. Try to create a product for a specific market and research if they will love it or not!
Lie:- The biggest lie is find the gap and fulfill the need. As of now there are more businesses to fulfill the need most people have!
So, how to create a product people will want?
To know what people want you need to conduct surveys, give free trails and much more things.
This will prove even their are 100s of products they will buy your products because of their greatness.
🍐 A Great product is not only great for providing solutions!
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