Can Your Niche Afford to Pay You?

I hear this a lot, “My target audience can’t afford to pay me.” I even fell into the trap myself. Then I realized what I was doing, smacked myself in the head, and fixed it.

An essential part of marketing is to make sure you’re looking for people who can afford to pay for your solution.

A 60″ inch sealed-burner Viking stove for $12,659 (yes, that’s a real price, I looked it up) may be the greatest cooking tool ever — but small mom and pop diners won’t be able to afford to buy one.

So, either you need a new ideal customer, or you need to change your strategy.

Create a Ladder

What’s the level of trust they’ll have with you? If they do have $12,000, can they spare it for a super-powered stove? Or, would you have better luck offering a more affordable solution?

Instead of heading straight for the top-of-the-line bells, whistles, fireworks, and party hat solution, try something small first. Products that offer repeatable solutions to recurring problems.

First Rung

Offer some free information. A blog. Free reports. A free newsletter.

Second Rung

Offer a $7 ebook. Or, a $17 workbook. Something that’s low-risk.

Third Rung

Then, create slightly higher options.

Bundle the ebook and the workbook together for $20. Or, add a how-to video for $5 more.

Fourth Rung

Then, add an hour of consulting. Or a personalized design review.

Got a ladder yourself?  How many rungs does it have?  What are they?

Image thanks to: myklroventine