Yesterday I had a conversation with Ben Settle.

It was one of the most valuable conversations I've ever had.

But out of all the great advice one thing stuck with me:

The $250 dollar shot of whiskey. Here’s what that means (and why you need to raise your prices)...

...It’s no secret that the internet is busier than ever before. People no longer just search google for answers but they use Perplexity AI and TikTok.

It gets worse…

Anyone can be an expert now. With more and more platforms emerging. There are more content creators and a lot of generic content. Competing seems nearly impossible, doesn’t it?

Nope.

It's easier than ever. Here's the deal:

Ben explained to me how being the most expensive in your marketplace separates you from the pack. There’s hordes of people that buy things simply because the item is the most expensive on the market. Look at luxury brands like Rolex. Even if you are the priciest toothpaste in the store, shoppers will see you as the top choice.

How come?

Because one of the primary human needs and desires is status and keeping up with the joneses. If you have the most expensive car in the neighborhood. The others will perceive you to high status.

Enter the $250 whiskey shot.

Ben told me there is a distillery by where he lives That distillery sells a $250 shot of whisky. When you hear about this, you can’t help but think:

•"How is this whiskey even made?"
•“Why is this shot of whiskey so expensive?”
•“What’s inside the whiskey that makes it so pricey"

See? The prices create intrigue.

The pricing creates word-of-mouth marketing instantly. People will tell their friends about this shot of whisky. The price opens a loop of curiosity that must be closed. It creates a shroud of mystery. Which gets you a lot of attention. Do you see how this small trick can get big attention?

WARNING: If you get this wrong you'll make a quick buck but your customers may despise you.

Example:

Someone in my market charged $3,000 for a personal branding cohort. He made 6 figures the first time he launched it. But the next launch? He barely made a fraction of that.

Why?

Because the value didn't match the price. You can get a lot of attention by being the most expensive. But if ya can't back the price up with real value...

...You're in big trouble.

So here's the point:

If you're selling the most expensive product or service then you will get a lot of free attention. If you can't provide equal value to that product, the attention will vanish quickly. So how can you charge a premium price, but know you're still adding value?

It's easier than you think.

•Study your competition.
•Buy their products or services.
•Note everything you like and don't like.
•Scour reviews of products, see what people dislike.

Then simply 10% more than the competition.

Again if you haven't signed up to Ben's email I highly suggest you do for actionable biz and marketing tips like this.

​https://bensettle.com/​

Catch ya soon,

-Parker