Something I’ve regularly read over the years is Gary Halbert’s bit on:<\/p>\n
\u201cThe Halbert Index\u201d<\/p>\n
It is all about what he called \u201cPlayers with money.\u201d<\/p>\n
There are many reasons to cater to them and those with their traits.<\/p>\n
Like, for instance:<\/p>\n
* They don\u2019t usually shop on price unless it’s to use a high price as a low value filter.<\/p>\n
* They aren\u2019t pain in the asses to deal with.<\/p>\n
* They aren\u2019t flakes.<\/p>\n
* They are decisive.<\/p>\n
* When satisfied they tell all their other PWM friends about your business (excellent word of mouth), and the list goes on.<\/p>\n
Another trait they have:<\/p>\n
They are likely to use a high price as a way to decide.<\/p>\n
They don\u2019t want cheap.<\/p>\n
And, in fact, if no time to research (as they value time MORE than money, which, ironically, is why they have money\u2026), they will often reflexively take the higher price, just assuming it\u2019s going to be higher quality. And, even better, they are more likely to use a service or buy a product that only other PWM use or buy, for no other reason than they don\u2019t want to be around normies or be associated with them, even if they virtue signal otherwise.<\/p>\n
Higher pricing is like a litmus test for them.<\/p>\n
Anyway, not every business lends themselves to marketing to them.<\/p>\n
Walmart, for example.<\/p>\n
Or any business that competes on price, caters to price shoppers, etc.<\/p>\n
And PWM still like a good bargain.<\/p>\n
But only a bargain for something that is already high priced and high quality. Discounting something from $1 to .33 cents ain\u2019t the same as discounting something from $500 to $400. I say this for anyone reading who can\u2019t grasp nuance & context:<\/p>\n
\u201cBen then why do you discount your books sometimes lol!\u201d<\/strong><\/p><\/blockquote>\n
Anyone asking that is not a PWM.<\/p>\n
And that, in and of itself, is telling\u2026<\/p>\n
One last thing about having a PWM list:<\/p>\n
The secret to growing such an email list is not the tool you use.<\/p>\n
It\u2019s the approach and psychology behind how you go about it.<\/p>\n
It’s way too much to go into here. But the important thing is how you begin to think about it anyway. Go for quality, not quantity. Be a four quarters not a 100 pennies kind a guy.<\/p>\n
That is, if you want a business you enjoy.<\/p>\n
With customers you enjoy.<\/p>\n
And, yes, with profits you enjoy.<\/p>\n
The book I give to new Email Players subscribers talks a bit about list-building. More than enough to get a business started.<\/p>\n
All right, more next time..<\/p>\n
Ben Settle<\/p>\n","protected":false},"excerpt":{"rendered":"
Something I’ve regularly read over the years is Gary Halbert’s bit on: \u201cThe Halbert Index\u201d It is all about what he called \u201cPlayers with money.\u201d There are many reasons to cater to them and those with their traits. Like, for instance: * They don\u2019t usually shop on price unless it’s to use a high price […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[11,12],"tags":[],"class_list":{"0":"post-15144","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-inner-game","7":"category-list-building"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/bensettle.com\/blog\/wp-json\/wp\/v2\/posts\/15144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bensettle.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bensettle.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bensettle.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bensettle.com\/blog\/wp-json\/wp\/v2\/comments?post=15144"}],"version-history":[{"count":0,"href":"https:\/\/bensettle.com\/blog\/wp-json\/wp\/v2\/posts\/15144\/revisions"}],"wp:attachment":[{"href":"https:\/\/bensettle.com\/blog\/wp-json\/wp\/v2\/media?parent=15144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bensettle.com\/blog\/wp-json\/wp\/v2\/categories?post=15144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bensettle.com\/blog\/wp-json\/wp\/v2\/tags?post=15144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}