Have you ever wondered about the difference between those who charge a premium vs those who don’t?
Maybe you’ve even wondered how others have been able to serve big/humongous clients.
It all depends on where you’re at in this Brand Sandwich
The higher you are at the top, the more you can charge a premium.
The lower you are, the more you compete with price, a losing game.
And if you’re at the middle?
Well, that’s the worst place to be in.
Let me tell you why…
The Brand Sandwich has 3 parts:
Utility: The Bottom
Clients here are focused on getting things done; hence, utility.
They’re not expecting the best, they just want “ok”
They might consider templates or someone from fiverr just to get what they need.
Price: The Middle
Clients here start forming a standard, but their main deciding factor is still one thing:
Price.
What’s tricky here is it’s always hard to compete with price.
That’s because there will always be someone cheaper than you.
And clients who value price? They’re the hardest to please.
Brand: The Top
Rather than competing based on price, those at the top compete based on:
- Identity/Relatability
- Expertise/Authority
- Trust/Security
Brands at the top can give their audience an identity, or provide their audience with a sense of admiration, community, or influence.
For products, think Apple and Harley Davidson.
For professionals, think Chris Do and Gary Vaynerchuk.
At this stage, quality is a given.
If you haven’t noticed yet, there’s one thing that separates the top from the middle and the bottom.
And that’s “BRANDEDNESS”
Brands at the bottom that target the masses can get away with an ugly logo, inconsistent visuals, and poor quality.
Why? Because the people who buy from this part don’t care.
They only care about getting what they need NOW.
Brands at the top heavily invest in their branding and marketing.
That’s because they have to please a more sophisticated market.
It’s not about the price. It’s about the value.
To attract this market, you need to:
- Look the part
- Build a shared identity
- Communicate your value
Where do you want to belong?
Do you want to sell at the top and serve those who value your services?
Or do you want to sell at the bottom where only the price matters?