Sunday, September 22, 2019
Do You Brand Yourself As Deluxe, Regular, Or Cheap?
In sales, the belief is that consumers need a choice – but not to be overwhelmed by a choice. Offer them three things – deluxe, normal, cheap. Don’t give them 13 different shades of each. Perhaps one needs to take the same approach when marketing their book or brand.
Think about it. Are you the deluxe model, priced only for a few, but lucrative if you convince people you’re worth it? Or are you the mainstream norm – decent value but nothing exceptional? Or, is price your greatest asset, pushing quality of work to the side?
You’ll need to make this choice when you market books, speeches, and related product content, including webinars, video trainings, work-for-hire, etc.
Some will look to provide all three, offering a base package with the option to add-on things for a fee or to discount their offerings depending on the circumstance.
Take a page from Corporate America. Many companies will have different brands at varying price points. They label something from another subsidiary or division as one thing while selling practically the same thing for higher fees under another brand label. Sometimes the consumer doesn’t realize it’s the same company or that the core of the product is practically the same.
What will you do – will you pick one of these ways to brand yourself – luxury, normal, cheap – or will you leave that up to others to decide by offering up all three versions?
If you want to select one of the three, think about your competition in each area. Where might you have more of an opportunity to succeed?
Your brand, of course, depends on who you are, what you say and do, and what you are looking to sell. When you promote numerous books or products or services vs. one, your approach will differ, and when you sell something people need vs. want, your approach shall differ. Just how rare or valuable is your offering?
Ok, so authors may not seem like they sell a luxury brand, but they could. Some books are valuable to people because the content makes/saves readers money or it helps them immensely. A novelist generally will never be a luxury brand, except for the mega-best-selling elites who have big books and movie deals. The first-time author looking to get noticed has a cheaper brand in the sense he or she has less to boast about and needs to seduce readers with a low price and an aggressive pitch.
Books can be packaged with other things that are perceived to be at a higher price point. Your book may sell for $15 or $25 but if coupled with a course, seminar, or other content, it could now now sell together at $75, $250, or more.
You pick: deluxe, normal, cheap. Or let your readers pick for you.
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Brian Feinblum’s insightful views, provocative opinions, and interesting ideas expressed in this terrific blog are his alone and not that of his employer or anyone else. You can – and should -- follow him on Twitter @theprexpert and email him at firstname.lastname@example.org. He feels much more important when discussed in the third-person. This is copyrighted by BookMarketingBuzzBlog ©2019. Born and raised in Brooklyn, he now resides in Westchester. His writings are often featured in The Writer and IBPA’s Independent. This was named one of the best book marketing blogs by Book Baby http://blog.bookbaby.com/2013/09/the-best-book-marketing-blogs and recognized by Feedspot in 2018 as one of the top book marketing blogs. Also named by WinningWriters.com as a "best resource.” He recently hosted a panel on book publicity for Book Expo America.