Comparing Apples To Oranges = Premium Price

It’s Darin Spindler from Magnetic Marketing back with another Magnetic Marketing Minute.

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The last 14 days have been fast and furious for us.

We hosted our Renegade Millionaire Coaching Group last Tuesday, our What’s Working Now Day conference on Wednesday, and then our Secret Society Mastermind Group Thursday through Saturday. All of this was held in Orlando.

We had the opportunity to hear some incredible success stories from our Members during the week including a member who had their first 7-figure year! Another who put an extra $41,000 to the bottom line by raising the prices on just one product by $1. Another who’s now doing $1.5 million a month…yes, a month!

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If you turned on the TV and listened for an hour you’d find it hard to believe that results like this are possible right now.

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You have to be careful with who you associate with, what you watch and what you listen to.

Information is like vitamins for your mind.

A steady stream of negative information can poison your thinking and ambition.

Positive and motivational information can make you aspire to and reach the next level.

…reminds me of the Jim Rohn quote, “You’re the average of the 5 people you hang around the most.”

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Comparing Apples To Oranges = Premium Price

Disney is known for many things, but first thing you think about is their “Magical Experiences” and then most would also point out that they have premium prices for nearly every product they sell. Not just in the park, but outside the parks. They have cheap hotels and 5 star+ hotels.

In the April No B.S. Magnetic Marketing Letter, I’ll have a full report from our Day at Disney with our Secret Society Members where I’ll share the good, the bad and the ugly of our experience. We did have some Ugly and Walt is literally rolling over in his grave at some of what’s happening over there...

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Throughout our short 7 hour trip through the Magic Kingdom and Epcot, there were many lessons learned, but premium pricing and having apples to oranges comparisons in your business was a BIG one that many members walked away with.

One example of this is the special Star Wars themed Coca-Cola products.

I believe a normal soda would have cost somewhere around $4.50.

And that’s a high price already for a soda, and there’s really only so far you can push the price of soda before consumers and the biggest Disney lovers decide the price is too high.

…so what did Disney do?

They created Star Wars Themed drinking vessels, which have now become a part of the experience.

They are only sold in one part of the park and they are collectors items.

Not only are guests paying the higher price for the same soda.

They are doing it cheerfully and having a better experience.

It’s a win for the guests and a win for Disney and a win for the bottom line.

What can you do in your business to create an apples to oranges comparison where you create price elasticity and a better experience for your customer, client, member, or subscriber?

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