Sell Experiences, Not Products!

If you cant compete on price

We all know that it is hard to compete on price, so how the heck can you woo customers online if you dont have the best prices?

Bundles of products and services that only you can offer.

Then people will pay more for the overall package than they would have for the individual items.

With a wine club, for instance, you can include wines that are limited production runs, or that they cant get in local liquor stores, along with exclusive wine tasting event invitations. By putting together an attractive package, you can build your expensive shipping costs into the bundle and people wont blink even though theyd balk if you split out the cost of shipping.

Other Key Marketing Lessons

1. Aim For a Recurring Revenue Model

If you give people a reason to subscribe and pay regularly, you dont have the hassle of constantly having to chase after new sales.

2. Cut Out the Middlemen

When I teach this in business school classes, we call it disintermediation. Whatever you call it, getting rid of the layers between you and the ultimate user of your products will save you and your customer time and money, and it gives you a much better idea of what your ultimate users are actually experiencing and how you can improve your offering.

3. Accept That It Takes Staff to Run an E-Commerce Store

Some of our other interviewees, like last episodes Brandon Forder of the Pet Connection, have said they consider opening an online e-commerce store in the same way they would opening a physical store. That means you will need extra staff, even if it is just one person to start with.

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