- Joined
- Apr 21, 2008
- Messages
- 200
Rep Bank
$280
$280
User Power: 8%
For the past six months, I’ve been trying a new approach to marketing my carpet cleaning business: price-based marketing. In the past, I’ve used ineffective value-based marketing, focusing on educating the prospects and cleaning for the health of the home. Despite the lack of success, I was reluctant (and still am) to using price-based marketing for a few reasons.
1) It puts me in direct competition with most other carpet cleaners.
2) Marketing based on price makes it very easy to compare me to my competition.
3) Someone will always always always undercut my price, no matter how low I go.
4) Advertising low prices tends to attract bad clients.
That said, my very limited test marketing to 100 clients per month over the past six months has generated at least a 500% ROI. One month, I got a 3000% ROI! Despite the obvious disadvantages, it seems to make financial sense.
I’m seriously considering ramping up this approach in all of my marketing now. My question is: how much do I focus on price now? I see a couple ways of going about this?
Currently, I’ve been using the same value-based marketing material with the low, fixed price offer, which has been so effective for me. Surprisingly, it seems that the words have no effect. Since price seemed to have such a strong impact on the response, should I change the wording of the marketing to focus more on price?
People don’t seem to care about the benefits of my service. All they see is “carpet cleaning†and “priceâ€. Instead of focusing on the value of my service and why I can provide more of it than my competition, perhaps I should focus on how much money I can save them. For instance, if they’re selling a home, I could talk more about how cleaning their carpets is much cheaper than replacing it. If they’re living in the home long-term, I could emphasize how much cleaning carpets regularly can double the life of the carpet, so they won’t need to replace it as soon. I could also talk about my money-back guarantee, which very few other carpet cleaners offer.
I’m not sure how much I want to take my business in that direction, due to the heavy competition in that market. However, given the success of my limited test marketing, I think it’s worth a shot. What do you think?
Thanks for the discussion.
1) It puts me in direct competition with most other carpet cleaners.
2) Marketing based on price makes it very easy to compare me to my competition.
3) Someone will always always always undercut my price, no matter how low I go.
4) Advertising low prices tends to attract bad clients.
That said, my very limited test marketing to 100 clients per month over the past six months has generated at least a 500% ROI. One month, I got a 3000% ROI! Despite the obvious disadvantages, it seems to make financial sense.
I’m seriously considering ramping up this approach in all of my marketing now. My question is: how much do I focus on price now? I see a couple ways of going about this?
Currently, I’ve been using the same value-based marketing material with the low, fixed price offer, which has been so effective for me. Surprisingly, it seems that the words have no effect. Since price seemed to have such a strong impact on the response, should I change the wording of the marketing to focus more on price?
People don’t seem to care about the benefits of my service. All they see is “carpet cleaning†and “priceâ€. Instead of focusing on the value of my service and why I can provide more of it than my competition, perhaps I should focus on how much money I can save them. For instance, if they’re selling a home, I could talk more about how cleaning their carpets is much cheaper than replacing it. If they’re living in the home long-term, I could emphasize how much cleaning carpets regularly can double the life of the carpet, so they won’t need to replace it as soon. I could also talk about my money-back guarantee, which very few other carpet cleaners offer.
I’m not sure how much I want to take my business in that direction, due to the heavy competition in that market. However, given the success of my limited test marketing, I think it’s worth a shot. What do you think?
Thanks for the discussion.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today