Establishing the Value Ladder Every businessman's goal is to have a long term relationship with their customers. There's only one best way to achieve it, that is to provide a great value for them. Customers will pay different prices for the same content delivered in different ways. That is based on their lifestyle, or just depends on how they go through with it.
Providing convenience for your customers is beneficial to them and more beneficial on your part as a business owner. So rather than focusing on the money, focus on the value you can give to your customers. Create a system where value increases as you create a long term relationship with your customers. Establishing the Value Ladder will make you more money at the endpoint.
Here's what the Value Ladder looks like: <ul><li>The bottom step of the ladder is text—an e-book or a hard copy book. People will pay the least amount of money for a book, and it will probably cost you much time and effort to write it. For example, I’m writing a book right now that we’ll sell for about $15 online. </li></ul>
<ul><li>The next step is audio. Same content, but people will pay a little more because it’s. In other words I jump up from a book to CD courses. With a little more depth to the teaching, we sell courses from $97 to $997 depending if it’s a one-CD or 15-CD teaching. </li></ul>
<ul><li>The next step on the value ladder is video. Here people can watch the presentation, see the power point slides, and watch you give examples on DVD. And, yes, they’re willing to pay more for that. </li></ul>
<ul><li>Next come seminars. This is a live setting where people can ask questions, and you can explain things better in response. You provide more value, and you can charge more for it. </li></ul>
<ul><li>The next step is live training, like one-on-one coaching. People have one-on-one access to a coach, which means again higher value. </li></ul>
<ul><li>Then you can become a business partner with others. For example, in our partnership program, I’m a business partner with nine people. I’ve got some skin in the game. I want to make sure they succeed because when they make money, I make money. </li></ul>
<ul><li>The final step is ownership. You can do franchising—provide the opportunity for people to own parts of your company. Obviously the price increases as the value you provide increases. </li></ul>
So instead of working too much for the money, first provide value to your customers and money will just follow.