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Fair prices don't exist. Politicians blub about them because it’s popular and they don't understand sh*t about running a business.

The fact is:

1. Millions of people are happily spending $1,000 on a new iPhone each year

2. Millions more are just as happy with their phones, which cost less than $500 but offer more or less the same features

In both cases, customers are satisfied with their purchases, but the situation is more nuanced for you as a producer.

Selling products or services at a higher price offers unique pros:

• You increase your margins 🤑

• With fewer buyers, you won't need a huge customer support team

• You can focus more resources solving specific problems of a smaller niche

That’s why Apple dominates the smartphone market year after year.

How To Sell At A Higher Price

High-ticket gurus repeat: “RAISE YOUR PRICES,” like it’s a magic spell. Don’t fall for it.

Customers aren’t stupid. The value of your product won’t increase in their eyes just because you slap a couple of zeros onto its price.

There may be exceptions to this rule, such as high-fashion brands or prestigious Swiss watches. Still, these exceptions don’t apply to SaaS or most digital products.

Instead, you have to work on three specific levers.

Lever #1: Reputation

How do you choose a restaurant for a special dinner with your partner? Most people rely on three points of reference:

1. Online reviews

2. Influencer support

3. Word of mouth

A restaurant with many positive reviews online is a good sign. Is this enough to convince you to spend $100-$300 on a special dinner there? Maybe.

The chances increase if the Michelin guide lists it with a good rating. You're even more willing to go there, regardless of price, if your foodie friends try it first and praise it when you meet.

The same applies to SaaS and other digital products.

Take the example of Hypefury. Happy customers shared their experiences on Twitter/𝕏. Over time, we gained the trust of many digital influencers.

People like Arvid Kahl, Justin Welsh, and JK Molina started to express their support for us.

Measuring word of mouth is nearly impossible, but I know people who suggested Hypefury to their close friends (if you're one of them, Thank You!).

Over the years, this constant reputation boost allowed us to increase our prices without losing our customer base.

If you want to sell at a higher price, activate this flywheel:

Lever #2: Communication

You know everything about your product because you live and breathe your business.

Customers don't.

Most of the time, they don't even know your product exists.

After they hear about it once, they won't remember what's special about it.

You have to keep highlighting your product’s benefits.

Many (maybe most) customers don't know all of Hypefury’s features. Even if they spend hours using their iPhones, most know only some of their features.

For any product, we only care about those features that help us fix one or more of our problems.

So, every time you mention your SaaS, highlight how it will help a customer achieve a specific outcome.

Lever #3: Differentiation

When we introduced Hypefury, there were already a bunch of social media schedulers (Hootsuite, Later, Buffer, SocialPilot, and many more).

However, Hypefury stood out from the start and gained thousands of customers.

Why? Because it wasn't another social media scheduler.

It was a thread scheduler and automation tool.

By offering a different outcome, Hypefury created a new category.

It immediately attracted customers, who purchased it even though it wasn't the cheapest option.

Often, to differentiate yourself from the competition, you don't need crazy ideas.

One little feature targeting a specific problem is all you need.

Just make sure to define it and highlight its benefits every time you can.

That’s it for now, everyone! We’ll meet again next week to discuss some more of this!

Feel free to reply to this email. It goes directly to me.

Cheers,

Yannick