Increase demand for your product or service
- Pay attention to market research
- Produce stellar content
- Feature customers’ reviews
- Keep Marketing
Target a vertical market niche
- A vertical market is a market in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. An example could be software that manages services in hotels – amenities solutions.
- The more specific your niche, the more you can charge
- If you are selling to a specific niche, it is much easier to truly understand that niche, perfect it, and become the best in the world at it; therefore command premium prices.
- Add tiers
- If your competitors all sell audio cassette albums with six cassettes for $79 and you want to charge $300 for an album with six cassettes on similar topics, why should the buyer pay it?
- Offer something new or different
- Throw in a complementary product
These are a few key things you can do right now to increase revenue by charging premium prices. If you would like some other strategies learn more here or visit me at www.michaelkearse.com. For free templates to identify your vertical markets, click here.