Business owners and marketers are forever dreaming of the self-selling mousetrap.
You know, the one that, if you can only invent and bring to market, will cause the world to beat a path to your door, while chanting “take my money.”
But here’s the thing: if you ever bring that to market, you’ll be greeted with skepticism rather than ready orders.
If you’ve made something much better, and you’re not selling it for a lot more, then how can it really be better?
If it’s just as good, and it’s cheaper, then how can it be just as good?
People believe in social proof and social signaling, making price an almost-fail-safe guide to quality.
So if your price is out of line with your claims, people distrust the claims.
And behind this distrust is the simple question:
What’s In It For You?
Customers are asking themselves: why would you voluntarily sell for less money than you could get for this?
Now, there are plenty of logical explanations you might offer, having to do with how you can afford to sell for less, or how you won’t always sell for less, such as:
- We cut out the middleman
- We bought for less
- Our production process is more efficient
- New technology is better at same cost to us
- It’s a first-time / limited-time / select-customer offer
And those are all fine, but they won’t prove persuasive unless you back it up with an EMOTIONAL reason.
What itch are you personally trying to scratch?
Do you have any skin in this game? Even better, do you have soul in this game?
And the only real way to answer that is with a Genesis Story of one kind or another.
Want an example? Check out this video ad for NAADAM Cashmere:
It’s a great video that manages to make a really tough persuasive “sale” — getting you to believe that a $75 cashmere sweater is just as good as one’s selling for twice as much.
Why does it work so well?
Because the video helps you understand what’s in it for the NAADAM.
Yeah, it explains how they keep quality high and prices low by cutting out the middleman, yada yada yada.
But the real power is in showing you their heart. The emotional itch they are scratching with this company.
The mission they are on that goes beyond just making money.
Why This Matters Even If You’re Charging Premium Prices
Now, the other, obvious solution to this problem is just to charge prices that are in line with customer expectations.
Why go against human intuition when you can make it work for you?
But even if you’re charging premium prices, you’re still probably claiming that your product or service is worth even more than what you’re charging, right?
You’re likely describing a customer experience so good that people might well be skeptical.
So, yes, you too should tell your prospective customers what’s in it for you.
Let them know you’ve got soul in the game.
Everyone should do this.
But most business don’t.
To make a genesis story stick, you’ve got to open up and be vulnerable.
And only brave business owners can do that.
So what about you?
I promise there’ll be a lot more in it for you than just increased sales.