Back to PodcastPeople Will Pay a LOT More For This Brief Overview There will always be a percentage of your audience who will pay a MUCH larger chunk of money, if you do one specific thing. I’ll tell you about it in this episode. Download as an MP3 by right-clicking here and choosing “save as.” RSS feed for Marketing Your Business Big Ideas [04:50] I tell a quick story about going to a Mumford & Sons concert with James Wedmore. We both wanted to buy t-shirts at the event, but the lineup was massive. James came up with a brilliant idea. He went to the front of the line and made a deal with someone who had been waiting for hours. He told a woman that he would be willing to pay for the cost of her t-shirt, if she was willing to purchase a few extras for us in return. She was blown away and took us up on the offer! We didn’t mind spending the extra $30 to buy her the 2 t-shirts she was looking to purchase, as it saved us at least an hour in line. So, we spent and extra $15 each, didn’t have to wait in line and didn’t miss a moment of the concert. Here’s how this winning idea can be applied to any business… [07:16] The above story reminded me of a simple marketing principle… That a percentage of your audience are willing to pay a premium if you make things more convenient. People pay for convenience. People will pay a premium price for a seat that’s closer to the front of the plane. My wife and I will pay a premium to have fresh fruits & veggies delivered directly to our door. It saves us time from having to go to the grocery store or the farmers market. [10:00] There will always be a percentage of people who will pay a premium to skip lines, to guarantee seats and to get whatever you’re offering in a more convenient way. If you want a fast and easy way to make more money with whatever you’re offering, think of a way that you can provide it in an easier, faster, more convenient format. Do that and you’ll make a lot more money! Quotes to Remember “People pay for convenience.” – Stu McLaren Rate & Review the Podcast Reviews for the podcast on iTunes and greatly appreciated! They help us build awareness for the show, which in turn allows us to bring value to more listeners like you. Not only that, but they help us better understand what matters the most to you so that we can constantly improve. If you received value from this episode, it would mean the world if you could take a moment and leave your honest rating and review. You can do that by clicking here.