I was retained as a consultant to an individual who lecture on methods of preventing theft from employees and vendors' delivery staff. This individual was a reformed thief who knew how it was done because he had done it.
This expert ex-thief was teaching business owners how to prevent this sort of loss-and they were thrilled. In fact, he had boxes full of testimonial letters from store owners and executives citing specific
amounts of money saved in the weeks or months following his seminar. These letters documented savings of thousands of dollars per store. Some big companies reported saving as much as $100,000.00 in just a couple of months by applying what they learned.
But the thief-turned-consultant had no idea what he was worth. He was charging only $500.00 to conduct his all-day seminar, and he had one little reference notebook with six audio cassettes that recapped the seminar, simply packaged in a bag, that he was selling for about $30.00.
Let me confess: this was the easiest marketing task I ever had. The first thing I suggested was that he raise his fees. In fact, I convince him to triple his fee from $500.00 to $1,500.00 immediately. To his shock, there was very little protest and no lost of clients. Shortly after that, the fee was raised again to $2,500.00 with just little client grumbling. Even at $2,500.00 a day, he was such a bargain that no one could afford to grumble too much. In essence, we were now selling $10,000.00 to $100,000.00 cash for $2,500.00. Who wouldn't buy that? And we had the proof to demonstrate the value of this bargain. Within a year, the consultant's fee was $7,500.00, and he was still attracting more business than he could handle.
I based his entire marketing program on proving that he was offering money at a discount. In other words, we showed prospects such large, compelling return on investment that they couldn't say no, regardless of the price of the seminar and consultation.
Source: Sales Success by Dan Kennedy
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