Thursday, November 26, 2009

The size of the crowd matters

Last weekend I had the opportunity to speak for a not-for-profit organisation. I wasn't being paid a fee, but the organisers allowed me to sell products. I decided to use it as a fund-raising presentation for Samata Sarana, a charity I support in Sri Lanka.

I had a $100 package for sale, including some e-book downloads and tickets to two webinars. I couldn't decide whether to offer it at the special event price of $50 or $20. I knew that offering it at $20 would get more takers, but would they be enough more to make up for the lower price?

In the end, I chose $20. I wanted more people to take up the offer, not only because I thought I would make more money for the charity, but also because it would get more people into my network.

Sometimes the size of the crowd matters more than what they paid to be there. It can create a buzz in the audience, it gives you more people to share your message with, it increases your network, it creates more possibilities for testimonials and referrals, and so on.

This isn't always the case, and I'm not saying you should always reduce your price to get more takers. But sometimes it's exactly the right thing to do.

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