In the early days of daily deals the market expected certain things.
$25 meals
$19 beauty treatments
$99 hotel rooms
We were very successful at selling them. Thousands of sales a day.
The prevailing opinion was that it was for cheap stuff and all the evidence pointed to that – as that’s what people were buying. But it was also what we were offering so it was self fulfilling.
The best hotel in San Franciso is the The Fairmont.
On the top floor there is a penthouse. 4 Bedrooms, 5 living rooms, billiard room, 2 kitchens, butlers – you get the picture.
The standard room rate is $20,000 per night so there is not exactly a massive market for that price range through traditional travel booking channels.
The Fairmont wanted some heads in beds so we offered the room for $10,000. Sure, big discount but still a huge amount of money for a single night in a hotel room.
Remember the prevailing opinion was all we could generate demand for was $99 hotel rooms.
The results?
146 room nights sold.
At $10,000 a night.
We gave that small segment of our customers who wanted the premium option what they wanted.
You have those people in your own customer base. They are prepared to invest in the super duper high priced option as they see value in it.
But we don’t often give them that option.
So as we move into the 30th week of the year your task young ecommerce jedi is to make that offer.
What is your premium offer?
Can you make your product get there faster?
Can you give them a years supply?
Can you make it limited edition?
The Apple watch starts at $399 and stops at $9999. The only difference is one’s gold plated. The inside is exactly the same but one is 20x more expensive.
Take 5 minutes today and find your $10.000 hotel room.
To your success.
James ‘Gold Plated’ Kemp
P.S the second thing you should do this week is follow me on Facebook. That’s where the real talk happens.
