Did you ever hear the story of a world-renown cellist who earned more than one thousand dollars per minute to play at legendary venues like Carnegie Hall or La Scala? Consequently, his brand had such value that it wasn’t unusual for him to earned $150,000 playing for less than two hours. The show producers exquisitely crafted the cellist’s image. This artist’s performance came in a first-rate package.
However, when the same artist played outdoors in front of the same venue with his super expensive D’Luca cello, playing the same music, he wasn’t able to make $20 for the two hours he played for people who walked by.
No one knew they were watching a world-famous artist. They didn’t have to buy tickets costing $250 to see him and there was no fanfare about his performance. His street concert wasn’t packaged to communicate value, expertise, and excellence.
Package, Prestige, and Performance
Therefore, how you package what you sell is critical to how it is perceived and what people think it is worth. Beautiful graphics and package/label design on food, wine, beverages, and other consumer goods sends a signal. They tell a story of being ordinary (generic) or extraordinary (luxury). A magnificent package can make the difference between a product remaining on the store shelf or ending up in a shopper’s cart.
Consequently, marketing is about packaging products and services, so they are perceived to be worth every penny you charge. Is your brand undervaluing what you sell? This is especially true, and often undervalued by B2B companies or people who sell services. Law firms could set up shop in inexpensive officers, but the high priced ones, are in the ritzy buildings.
Do you need to rethink the image that surrounds your brand? Are you paid commensurate with value? Is it possible that your services need repackaging?
Or are you just going to be fiddling around?
Need help repackaging what you sell to harmonize your price with perceived value?
I can help. You can set up a time to chat with me about your marketing challenges using my calendar. Our initial conversation is free. You talk, I listen. Email me jeffslater@themarketingsage.com or call me. 919 720 0995. Visit my website at www.themarketingsage.com Let’s explore working together today.
Photo by Arūnas Naujokas on Unsplash
