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Newsletter #926: The “How Much Are You Charging” Issue

[Welcome back to the Damn, I Wish I’d Thought of That! newsletter. This is text of the great issue all of our email subscribers just received. Sign yourself up using the handy form on the right.]

The cost of your stuff is often an overlooked opportunity for starting word of mouth — and this isn’t about deep discounts or one time deals. This is about interesting, sustainable ways to make what you charge your customers something worth talking about.

Here are some ways price can be a great conversation starter:

1. Get them to come back
2. Get them to try new stuff
3. Get them to give a gift
4. Check it out: Written? Kitten!

1. Get them to come back

If your customers aren’t getting the most out of your stuff, they may not see the value in it. That’s the problem gyms face every year when New Years resolutions die off. Gym-Pact addresses this problem by holding their members accountable to getting the most out of their membership. They require customers to pay more if they don’t exercise at least three times a week. While other gyms are keeping their fingers crossed for the New Year’s crowd, Gym-Pact is building a base of loyal customers who will be back regardless of the season.

The lesson: How can you give your customers the right push to experience the best you have to offer?

Learn more: PSFK

2. Get them to try new stuff

One way to spark word of mouth is to help customers find your great stuff they wouldn’t normally try, and pricing can help you do it. At the New York Beer Company, they encourage patrons to order less popular brews with “The Beer Market.” The beer prices change with demand, so popular beers are more expensive, which gives their customers a reason to try different brews and creates an opportunity to start new conversations.

The lesson: How can you give your usual customer an incentive to try something new?

Learn more:

3. Get them to give a gift

“Buy one, get one” discounts are a classic way of getting your customers to talk about your stuff. When you subscribe to Inc. magazine, they let you give a subscription to a friend. That helps their readers start conversations about their magazine, and it starts a relationship with a new subscriber that could lead to renewals down the road.

The lesson: Give your customers opportunities to do something nice for their friends and start conversations about your stuff.

4. Check it out: Written? Kitten!

Need some motivation to write more? This site gives you a new picture of a kitten for every 100 words you type.

Check it out: Written? Kitten!

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