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Create perceived value

Keep in mind that perceived value often has little to do with your product’s price, it really hinges on whether you can convince customers that your product can and will satisfy their personal needs. Some ways you can play with perceived value:

  • Play up the exclusivity of your product: consider the effect of phrases like “limited time only” or “special offer” on potential buyers.
  • Back up the excellence of your product: eliminate customer’s hesitance about whether or not your product work by offering a money-back guarantee. 

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Define your culture

  • Clear goals. People know what they’re aiming for. So they feel purpose-driven in what they’re contributing.  
  • Trust. Trust your employees and they’ll trust you.  
  • Purpose. Be...

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Strategize social media

There’s a lot of types of filters you can think about when you’re figuring out what to post on your socials. I’m not talking about the usual filters, I’m talking about some questions that will help you shape your content, will it make people feel good? will it cause people to laugh or smile? ...

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Speaking of packaging…

Use your packaging to stand out. Every part of your packaging is an opportunity to make your customer smile. 

Think about what it feels like to open a beautifully wrapped gift: The paper, bow, and presentation can be as delightful as whatever is inside. That’s the note ...

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Building a culture

When you’re just starting to build a business, the first people you hire are the face of the company almost as much as you are, so take care in choosing them. 

There are two types of people you have to fire: One will support your bench strength and your lan...

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Pricing

It’s all about the four P’s: product, price, placement, positioning. You might have an amazing product, but it’s not going to sell if you don’t put it on the market for the right price. So the four P’s means that the product must be the right one, the price will depend on the pro...

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Who can you pitch your brand story to?

The story of your brand is what you’re going to want to tell people when you’re making your product. The more open you’re willing to be about who you are and what you stand for, the more likely it that people will relate to you and therefore your product.

Ask yourself, ...

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Strategize discounts

Consider sales as a strategic tool, not a default mechanism. A lot of brands and companies use sales to drive volume and to drive the business and it’s not healthy. 

Look up products similar to yours and record their prices. Divide those prices by five to determine how ...

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Break conventions

Spending time in the stores where your product lives not only will let you pull sneaky marketing maneuvers, it also will let you learn directly from customers about what’s missing in your market. 

If you do a sales day presentation, invite your friends to stop by and st...

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Build Awareness

  • Paid advertising could mean a couple of different things: Maybe you decide to pay a spokesperson or an influencer to talk about your product or service in a sponsored Instagram post. No matter what you choose, advertising probably isn’t going to be cheap.
  • Org...

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Navigating distribution tiers

Be careful about timing when you go to the highest tier and eventually to the middle tier. Protect the pricing in the middle tier because the middle tier likes to do a lot of sales more so than the premium level. 

As long as you keep the integrity and that’s part of the arr...

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Know your distribution plan

When you’re creating your brand, you have to be very clear on where you want to show up in the marketplace.

  • Do you want to be premium?
  • Do you want to be mid-tier?
  • Do you want to be a value-based brand?

You have to figure out:

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Prioritize culture fit

Hire people with a good sense of humor and don’t get offended too easily. Look for people who have a positive attitude and some experience, who care the most, who share values about the brand mission.

Look for: 

  • You will want people w...

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Speak to your customers

Use humor and speak to the customer, not at the customer. Talk to the customer like you are at dinner with your friends, don’t give a marketing speak. 

Don’t feel like you have to try to act like the experts and put all sophisticated language and polish on things. Just ...

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Get very clear about where you think your price should be in the marketplace and where your distribution should be. Do you want to be the least expensive in your competition? By having a price be a premium price it made people ask more questions. But keep a healthy margin because you can’t sustain y...

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