It started out last night, 1 group, 2 groups and by the time I woke up a bunch of posts in multiple groups talking about damn ironing water.
Just like the Tiffany paper clip and Nordstrom’s $500 dirt jeans all of these posts carry the same message “if they can charge $17.99 for ironing water, then you can get out there and sell your thing” *insert eye roll*
First I’m surprised at how many business owners and marketers jump on these same price shaming bandwagons and I’m even more surprised at how many think a post like this is teaching somebody something.
There are many lessons here and price shaming or pushing you to sell your stuff more isn’t it.
First, Ironing??Water?? is??not?? a ??new??thing
Ironing water is pretty common and was even more popular decades ago when people used to launder and press their clothes more. If you don’t believe me check out how many listings Amazon has for ironing water and ironing water like products.
This company has brought this product back with some nice labels and a nicer priced tag, they’ve introduced it and the Internet is losing their minds over iron water.
The lesson is…
there are millions of products that your audience doesn’t know about yet. Instead of trying to sell the same 5 things as everyone else look at what other products you can introduce people to that very few have heard of or haven’t seen in a while.
GET OUT THE BOX!!!
Every big company from Apple to Fenty made it because they introduced something different that their audience doesn’t see, it wasn’t new just wasn’t out there or done that way.
- Apple introduces iPods and iPhones- MP3 players weren’t new Apple just made it cool and introduced apps to do more than hold music
- Fenty introduced makeup for all colors- multiple makeup shades aren’t new (at all) but Rihanna and Fenty highlighted the darker shades, put various models in campaigns and let her audience know we are here for you
- Crayon Case (you know I had to highlight Supa Cent) introduced a colorful makeup palette, colorful makeup isn’t new Supa just highlighted how it could be beautiful on darker skin tones and made it ok to stay away from nudes and be bold with your look.
Second, Stop basing your price because on the Wholesale and DIY prices.
I can’t believe how many comments I’ve seen on these post from other business owners about how much water really cost and how you can make this yourself. This tells me why so many people are struggling to turn and profit and chronically undercharging for their products and services.
The lesson is…
You don’t have to price based on what you paid for supplies, paid our wholesalers, or if people could make it themselves. Good pricing is based on how you position your brand and the perception people have our products.
Example, you can get a black t-shirt from Walmart, New York & Co, or Nordstroms; but would you expect to pay the same price?
NOOOO
You expect the price based on the level of the store
Walmart $
NY& Co $$
Nordstroms $$$
The brand perception is how The Laundress can charge 17.99 for something that seems so basic. They’ve positioned themselves as a higher-end classic brand for people who want an upgraded lifestyle. Their products are between $15-25 per bottle and they make it very clear they are not your average grocery store brand.
Check out their website https://www.thelaundress.com.
They’ve made themselves worth the 17.99 price point just by acting like a 17.99 brand.
Can you say your brand is doing this?
If you need more help in this pricing and positioning area, check out my Boutique Breakthrough Video Series http://onlineboutiquesource.com/boutiquebreakthroughreg.
Third, your mindset is killing your profits
This one may be a little touchy for some, and is going to take some searching inside for people to admit this is them. Pricing isn’t only what people think, it’s also what you as the owner thinks about it. If you’re not comfortable with higher prices how can you confidently sell at a higher price? How can you stop undercharging if the thought of paying someone that rate scares you?
I’m not shaming anyone but a lot of the same people I see saying how “expensive” this water is are the same business owners I see trying to convince customers to buy their products.
The lesson is…
You can’t push what you don’t believe in!!! I’m not saying you have to buy $17 water, but understand that their price is their price. And the words “it’s too expensive” is more about how you feel inside than the real value of the product.
Back to my Walmart, NY&Co, Nordstrom example. All of those stores have an audience and they see value in their prices and products; as business owners it’s important to open our minds to different prices and pricing models. Get it’s too expensive out of your spirit or it will show up in your business.
Overall lessons we’ve learned from the $17.99 Ironing water
….don’t jump on every bandwagon you see shared 3 times. And dig deeper into these viral trends, there are some marketing gems all of these brands are uncovering for us.
I’d love to hear what else you learned from this, share in the comments or the post what you get from viral ironing water.