Step 5 of 5: V.I.P.’s
Welcome to the final step of the 5 Steps to 10X Your Revenue in 90 Days or less!
If you made it this far I am extremely happy for you. You now know more then 90% of “marketing consultants”!
Now the V.I.P. Step is more about “prestige” then it is about pure value.
With the four previous steps, its been about automating the process and maximizing ROI for the greatest possible reach.
With the V.I.P. section, we are instead going to capitalize on the 1% to 3% of our target market that has large amounts of liquid cash and want to feel important.
I know that may sound rude, but the research back it up.
No matter what the niche is, I’ve always found that there is 1% to 3% (and even sometimes up to 5%) of your target market (which include your current and past buyers) who are willing to pay more.
They want to pay more. They have the income for it, and are just looking for somewhere to spend it.
So, lets give it to them!
What makes a good V.I.P. offer?
First, it needs to be “fluffy”. The goal is to make the buyer feel special and important.
It should be EXTREMELY exclusive and expensive (and therefor only appear to a select few).
So what makes a good V.I.P. offer?
My favorite is simply adding an exclusive service/product offering for a ridiculous markup under the assumption that no one will buy it (the 3% to 5% always do). You have zero risk adding this to your product/service line. Worst case no one buys it. Having a very high end product or service as part of your offering helps brand your business as well.
Next you could offer an exclusive “package deal” with other businesses in the area. All businesses could offer one “high end” product or service as part of the package. This is a great way to bring in new buyers while also offering an extremely exclusive package.
Exclusivity, limited time available and high initial investment are your friends here.
Another extremely simple option is offering access to people not normally available.
I’ve implemented plans where the owner gives out his personal cell phone number for $500 a month so you can call/text with questions (within set hours). This also works with high level managers, executive support, etc. You are charging for access.
Another favorite of mine is creating a multi-day Retreat or Event (or Coaching).
An example of this is what I like to do with experts in the health industry. For my chiropractor clients, I find a golf coach and combine for a day long event where the chiropractor teaches gold related health classes and the golf instructor teaches golf.
We charge usually $997 to $1997 for tickets and only host a few people.
The events are extremely exclusive and also very valuable for those able to attend. Both the chiropractor and the golf coach usually pocket $2k+ for just a few hours of their time.
The V.I.P. step should fun! Create the most ridiculous, exclusive offer you can think of and put it out there.
I guarantee somebody (and usually lots of somebodies) will buy it.