I have been attacked by 2 wild men in Kathmandu, Nepal. One guy mistook my arm for a buttered role and bit me. Another Mike Tyson wannabe wailed me in the shoulder.
I knocked on death’s door after losing 15 pounds in a week and getting dangerously dehydrated from giardia in Muhamma, India. Yes, I appeared to be a stand in for Gollum after drying up like a California raisin.
I mixed it up with a slobbering vagrant in Granada, Nicaragua.
I stared down bullet ants and poison dart frogs in the remote jungles of Buena Vista, Costa Rica.
Figuring out what to charge for my products and services almost scared me as much as these intense, exotic experiences.
Because money is funny like that. I had as many blocks as an NFL offensive line in all things money. I felt handcuffed by a dizzying deluge of money limiting beliefs. From feeling like I wasn’t *good enough* to being horrified of being skewered by critics to worrying endlessly about if I priced too high, I walked myself off the blogging business ledge only 15,342 times during my career.
Benefits of Pricing Your Products and Services Properly
- reap the rewards of your playful labor (I don’t do the “hard work” bit)
- build a powerful brand
- avoid financial struggles
- skip pricing-related stresses
When I wax poetic about my blogging career, a few split second decisions made THE difference. Raising my coaching rates. Or elevating my freelance writing rates. Or pricing my eBooks properly. 1 minute, I priced like a blogging pauper. The next minute, I priced like a blogging pro.
Ready to live your dreams?
Here’s how to effectively price your blogging products and services.
1: Scout Around
SA: Scout Around.
A few months back I stumbled across a well known blogger’s coaching services page. After perusing his rates I had an epiphany; I charged a pittance compared to his healthy rates. I gave away the Fiji farm. I belittled my Balinese experience. I mean, think about it: I know exactly how to retire to a life of island hopping through smart blogging. Lived in Fiji for 4 months. Chilled in Bali for over a year. Hung out in Thailand for a year too.
After spending almost 5 years island hopping like a fool I can share with you the specific, practical, actionable tips – and more important, the inner techniques to raise your vibe – to help you make your blogging dreams come true.
I whipped myself with a wet noodle. Self-flagellation always gets me going. I proceeded to build a benchmark rate for my blog coaching and freelance writing services based on a collection of blogs from my niche. Like an average of rates combined. I eyeballed what fellow bloggers charged and worked out a figure.
Scout around. Peep blogs from your niche. What are fellow bloggers charging for their eBooks? For their services? Establish a benchmark rate based on your scouting sessions.
The fun part!
I learned more about myself and my relationship with money through this technique than by any other strategy.
Add $$$$’s to your benchmark rate. Or, charge a bit more than the other blogging guy or gal. This moves you outside of your comfort zone. Which is where the money is. Because overcharging is simply your mind’s way of saying: “I believe in lack and limitation.” Meanwhile, billion dollar businesses are built on offering premium products and services.
As you build your brand, make friends, share value and persist like the dickens, your readers, followers, minions, serfs, fans and connections will run through a brick wall to get what you have to offer. Fans are fanatics. Fanatics spend their dough to get their fix. Their fix of you.
My readers love my brand. My readers are all in. Price is no issue. Because my readers see the value in learning from a dude who went from New Jersey to Nepal. From Plainfield to Penang. From the US to Udon Thani, Thailand. I used to think Bali was a country. Now I can name tiny Balinese villages dotting the rice fields after living in these hot spots for months at a time.
People who want to live in paradise will gladly pay for the tips, techniques and strategies to live in paradise. And they’ll pay a premium too.
Example: if the benchmark figure for blog coaching services is $200, charge $250 or $300 for your blog coaching services. Doing so energetically aligns you with a more prospering crowd. Doing so makes you realize that you’re offering a premium product. An in-demand service. Something special.
Note: this strategy works nicely within reason. Just as you wouldn’t charge $700 for a can of tomato juice you wouldn’t charge $20,000 per hour for blog coaching services when folks in your niche charge $500 per hour.
What if You’re a Newbie Blogger?
Maybe you can’t overcharge as a blogging newbie. But from Day 1 of your blogging career – or from today going forward – offer a product or service or both and charge for that bad boy. Newbie bloggers often fall prey to the “I have no skills or experience” limiting beliefs when it comes to offering a product or service, then, charging for it.
Charge something. Pick a price point that pulls you outside of your comfort zone. A neat thing happens; your skills will catch up to the price.
You are special. Your experiences are unique. Tell your story. Wins and losses. The whole shebang. Link your stories into your niche. Build a blogging business. Charge something, anything, to program your readers to know: this is an blogging entrepreneur, not some Amateur Hour Hack.
Sitting with uncomfortable feelings like: “I don’t offer enough value, I’m not good enough, I’m charging too much” or any other limiting beliefs shows you the very ideas you need to face, embrace and release to make that sweet blogging scrilla.
As for me, I clung to some weird price block around the dreaded C Note: the $100 price point barrier. I feared charging more than A Bill because this was “expensive to me”, and “people couldn’t afford it.” Bull crap. People will pay for what they want, for what benefits them, for what they value, for what solves their problems and for what helps them live their dreams.
Since I decided to charge more than $100 for various products and services (or the exact $100 figure) I instantly felt clearer, more confident and an overall sense of happiness about my blogging prospects. Something else neat happened to: I popped up on the radar of high profile sites like Forbes and Virgin. The Blogging High Rollers of the World value you if you value yourself.
Overcharging is in essence knowing your premium to weed out the bottom feeders. Because avid fans don’t recognize the word “Overcharging.” They pay for what matters to them. And don’t see the difference of a few bucks for a low end product or a few hundred for a high end product. Benefits inspire them to break the bank or dip a bit deeper into their coffers if they are prospering folk.
3: Don’t Make this Mistake
Most bloggers terribly undervalue their products and services, and accordingly charge a pittance. Or charge way too low for their offerings. If business slows or stalls one of the worst things you can do is to lower prices. Doing so appeases bottom feeders. Or placates tire kickers. Broke folks are a poor foundation on which to build your business. Kinda like trying to build the Empire State Building on a foundation of sloppy sand.
Do not, under any circumstances, lower prices for a period of 3 or 5 months – or longer – to drum up business. This sends off a “damn I’m desperate” vibe that attracts desperate folks to your blog. Be bold! Make money blogging by knowing the value of your offering and by standing firm.
4: Follow Your Fun
If you love writing, become a freelance writer.
If you’re a ham, become a video consultant. Or whatever these guys are calling themselves these days.
If you have fun writing, you’ll write a bunch. Won’t feel like work. It’ll be play. And you’ll get pay for your play as the quality of your writing improves. This is probably the #1 tip for getting clear on your pricing levels. Especially if you’re going to charge a bit more than the average blogging bear.
How do you price your blogging products and services?
Avoid this Blogging Wake Up Call to Enjoy the Journey
Blogging need not be a lesson in harsh wake up calls. You can and will largely enjoy the journey by knowing this: success finds generous bloggers. Let that idea firmly impress onto your mind. Be with it. Allow the idea to worm its way into your consciousness until being generous becomes part of your being. Helping people for free boosts your skills and increases your exposure. Skilled bloggers with massive exposure become successful.
But one wake up call seems to find most bloggers who refuse to learn this lesson. Bloggers need to struggle, fail and suffer because they try to get money and traffic by focusing solely on receiving methods, versus giving generously of their time and talents. Imagine this scenario; a blogger writes and publishes one blog post weekly. Cool. But the blogger sits around and does nothing else blogging-wise for the remainder of the week. Hmmmm…this is not being generous, guys. This is being stingy. Bad move. At week’s end, the blogger did not make a penny of profits. Panicking, the blogger immediately analyzes their various income streams. How can they maximize profits through the streams? What is wrong with their income streams? Did they pick the right streams? Or did they pick the wrong streams? What gives?
Struggling bloggers then spend 2, 3 or 5 hours analyzing their income streams, focusing all of their attention and energy on the GETTING aspect of their blogging campaign. Terrible idea. Why? The reason why you struggle to get is because you refuse to give generously of your time, energy and talents. The income streams? Nope; not a problem. Your lack of generosity is the problem. The wake up call is most bloggers focus heavily on getting when struggling to drive traffic and profits when they should be focused heavily on giving generously. Giving generously leads to greater blogging profits. Instead of writing and publishing one blog post weekly, how about writing and publishing 2-3 posts weekly, weaving some stories into your blog posts? How about you spend 4-8 hours daily generously reading blog posts, commenting genuinely on blog posts, promoting other bloggers and yes, promoting yourself, too?
Put in the giving time to make getting easier and easier. No need to slam into the cold, hard wake up call of focusing selfishly inward, trying to pin your struggles on inanimate, lifeless income streams. You have a giving problem, buddy. Time to be generous. Time to step it up. Write a guest post daily or perhaps, every 2-3 days. Go ahead. Do it. Begin video marketing. Build bonds with bloggers. Help them out. Practice writing. Gain invites to guest post on blogs from your niche. Blogging becomes more fun, more enjoyable and flat out easier if you put in the time, generously helping folks.
Focus heavily on giving. Your star will shine if you generously serve people. On the contrary, blogging and life become so much harder if you obsess over your income streams, analyzing, over analyzing, focusing, wasting precious time and energy on getting, when you should be giving more freely. Blogging feels more fun, too, when you focus heavily on giving, because we were designed to give, to be generous and to serve folks. Doesn’t it feel amazing to help people? Of course, it does. Enjoy the blogging journey and avoid this painful wake up call….plus….you get to sleep in, hehehe 😉
The Importance of Digital Marketing Research for Brands in 2020
One of the key aspects of launching successful marketing campaigns is to conduct market research beforehand. This is no different when marketing on the internet. Digital marketing research is crucial to successful digital marketing, and without it, one can quickly blow through their budget without seeing any type of ROI at all.
A perfect example of this can be seen in social media marketing, where billions of ad impressions are served hourly. The same is also true with paid media marketing and pay per click marketing within Google. There is simply way too much information and user views out there, and if you aren’t careful and are using paid advertising–you could blow through a large budget in a short period of time.
If you have been neglecting digital marketing research prior to launching your campaigns, read on to learn the importance of digital marketing research and why you need to get on the bandwagon!
Digital Marketing Research
Market research helps the marketer understand the market and the trends. The information received can be used to develop a sound marketing strategy. Having an understanding of your audience and how to communicate with them is key to growing your business.
But, how do you go about implementing digital marketing research?
Eyes on the Audience
First, you must know who your audience is. Your business should have a niche target demographic to reach out to. Once you have established who this target audience is, you will have a better idea of how to communicate with them directly.
After you have identified your audience, you will need to get to know them better. You want to know their behavior patterns: how often they shop, what they shop for, what their preferred products are. Using a survey is a great option to ask your target audience questions to garner information about them.
And even better, if you do plan on collecting any type of data from your audience, you should definitely consider your options with remarketing afterward. By this, you can start running Google Ads or Facebook Ads campaigns that target only the audiences that you’ve selected (whether that be through pixel or email data).
Social Media Marketing and Other Digital Platforms
Once you have established your audience, you want to use social media and other digital platforms to market to them. Note: in your survey, it is best to ask them which platforms they prefer.
Essentially, you will be adopting a multi-channel marketing approach to reach your target audience. This means that you will be using different digital platforms to reach your audience, be it through content, social media, or messaging systems such as email, chat, or text messages.
Your market research will tell you which is the best platform to reach your demographic. For example, if your audience are teenagers and young adults – you may opt to use Snapchat and Instagram for marketing campaigns.
An older audience would prefer Facebook or even traditional platforms such as email for newsletters. And of course, if targeting professionals then LinkedIn is your platform of choice.
Who Can Help You and Who Can Challenge You
The importance of digital marketing research extends to knowing who can help grow your brand and who your competitors are.
A prominent aspect of digital marketing is the use of influencers. Use your marketing research to seek out these influencers and ask them if they can help promote your brand. For example, if you ran a company that sold protein powder, you would want to find fitness models who could endorse your products.
Similarly, use your marketing research to learn who your competition is. You can also look at their marketing campaigns to get an idea of what you are up against.
Get The Ball Rolling
Now that you have learned about digital marketing research, it is time to get the ball rolling. By following each of the recommended steps and methods above, there is no reason why you shouldn’t see improved numbers across the board. Digital marketing is changing all of the time, and so are the ways in which you can target and reach new audiences.
Research your target audience and ask them what their needs are. Determine your platforms of choice. Utilize influencers and keep a watchful eye on your competition.
Are you looking for more tips on how to use your blog for marketing purposes? If so, then browse around our blog for more of our latest content.
Do You Honor the Law of Lag?
The law of lag is always in effect. How it works; you generously, patiently and persistently help folks, trust in the process and yeah, make sure you promote yourself freely, too, OK? Be patient and persistent. Relax. A lag exists between you working generously, and, actually seeing traffic and profits increases. I refer to this as the law of lag. Lag times exist between you doing what works blogging-wise and seeing specific traffic and profits increases. Relax. Take a chill pill. Do not panic. Never believe that 0 traffic and 0 profits over the first few weeks of your successful blogging campaign indicates being generous, patient, persistent and trusting is NOT working, guys. Far and away, this is hands down the biggest mistake I see in blogging. Bloggers do not honor the law of lag. Bloggers panic and bail because they see minimal or no traffic and profits increases, during weeks or months, after they follow the successful blogging route.
See the journey through guys. Honor the law of lag. Know how it takes time and practice to become skilled enough and to yield enough exposure to actually boost your blog traffic. Boosting your blogging profits takes a bit longer, usually. Honor this lag time between work and results to become a highly successful, prospering blogger. Imagine being a doctor. During your first 3 months in pre-med, do you panic and bail because you have not made a cent through being a doctor? Nope; of course not. Do you panic and bail during your 6th year of medical studies because you have not made a penny from being a doctor? Nope; of course not. Do not panic and bail if you have not made a penny during your first 6 months of generously creating and connecting. Be patient. Good things take time. You need to become more clear and skilled in order to gain credibility in the eyes of readers. Plus you need to gain greater exposure by generously posting to your blog and by guest posting.
What happens when business slowly, steadily begins to grow? Now it’s time to learn how to better serve your customers. Nobody knows how to serve customers and clients fully until serving customers and clients in real world circumstances, gaining critical experience without a mentor or coach looking over your shoulder. I learned priceless lessons by boosting my traffic, by meeting more folks, by coaching clients and by interacting with customers. I had to put in the time and be patient during seeming lulls, or lags, to be a full time blogger. Being patient, persistent and generous made me the blogger I am today. You never grow until you go through testing periods where nothing appears to be happening but where everything is happening more quickly than you could ever see, in the background. All grows exponentially under the surface but only slowly and steadily bubbles up as profits and traffic stats. Envision the slow burn, bubbling up as a lag that cultivates your generosity, patience and persistent, and, your trust in self, as well as your trust in the blogging process.
I believe in you. See the journey through. Honor the law of blogging lag.
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