How to Overcome a Price Barrier with Effective Brand Messaging
Canon Wing
Creative Director, Brand Marketing Director for Inspiration To Millions, Branding Expert, Brand Consultant, Brand Manager
How to Overcome a Price Barrier with Effective Brand Messaging
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Did you know that you can increase profits by 10-12% by increasing product price by just about 1%? Brander and namer Canon Wing explains how brands can highlight utility, features, status, security, or financial future to make cost irrelevant in the minds of their ideal individuals. She shares four key strategies that help your ideal individuals to choose your brand over the competition and converts bargain hunters to value seekers. Watch now!
Top Tips
? The aim of every business is to get people to prefer their brand over the competition. For this to happen, brands have to become valuable in and of themselves – to a point where price becomes irrelevant.
? Targeted brand messaging can help transform buyers from bargain hunters into value seekers. The fact is that human beings are wired to be aspirational and to not value things they get for free.
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? Brands have to convince buyers that price is just one component of their buying decisions and that it isn't the most important one. Brands have to communicate how their product will simplify, secure, ease, or improve the lives of buyers.
? A brand should be able to convince people that they not only want the product but also need it. They should be able to make the purchase worth their while with a value proposition.
? A brand needs to become desirable in the eyes of their ideal individuals more than other brands in the fray. The exclusivity or high intrinsic worth of a product or special features have to be clearly communicated.
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