"You might be very good at what you do, but how good are you at business?"

Premier Pricing and Positioning – a stark reminder!

After Christmas I had a wardrobe clear out and sold some things on Ebay. A dress sold for £10 and was duly posted out to the winning bidder. All done, I thought.

This morning I saw the same dress, my dress, being sold by the buyer for 4 times the price she paid me! And she has bidding on it and it still has another 12 hours to run!

Moral of this story? People will pay more for exactly the same thing if it is presented well and the information is inviting and compelling. Taking time to package, present, describe, inspire and invite with your words, the product or service hasn’t changed – it’s positioning has and also it’s price!

The dress hadn’t changed, the condition hadn’t changed, it was the exact same dress but whereas I had just stuck it on a coat hanger and took a photo, she had dressed a mannequin, tucked in the waist and draped the shrug nicely over it – nice clear background and an extensive description of the dress. And so she makes at least a £50 profit I would suggest!

The more attractive way it was presented probably suggested it was in better condition – but I noticed that she has a target market – this is what she is known for. She buys designer labels cheaply from folk like me who are amateurs in this field, presents them beautifully and asks a higher price to a large audience that she has cultivated over time – niche marketing! She focusses on what she is good at, develops a reputation and brand around it, and voila! My frock has made her a nice profit with no real work involved! Premier pricing based on product positioning, compelling copy and attention to details …… there is learning in everything folks!

I need to apply my same skills and knowledge to my second hand dress selling as I do to my clients and their businesses – I help small businesses create marketing and business plans to do exactly what that lady has done with my dress – I am chalking it up as a schoolboy error and thinking how best to position and present these unwanted wellies that have been cluttering my cupboard for the last few months …… 😉

My forte lies in helping small business owners to create and develop a sustainable business and help them move forward from the rut they are stuck in or the decision that is causing them to delay – and I now feel able to advise on Ebay sales too – key points being:-

  1. People will pay more for the same thing if it is packaged and presented better
  2. Small things and attention to detail matter
  3. Giving people information so that they feel comfortable they know what they are getting
  4. The language you choose to use should sell the outcome
  5. Taking a few moments to carefully create a compelling story with strong visuals makes a real difference!

There’s learning in everything folks!!!