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Heavy as a Boat Anchor

There’s something about being first. It sets the trend for everyone and everything else.

And it’s true of the way we all think.

Anchoring, according to Wikipedia, is defined as:

the tendency to rely too heavily, or “anchor,” on one trait or piece of information when making decisions (usually the first piece of information acquired on that subject).

Let’s talk bread makers.

Years ago, a company created the first consumer bread maker. They had a hell of a time selling it. People just didn’t seem to want a bread maker in their homes. So the company hired a marketing firm to figure out a way to sell it. When the marketing company came back with their findings, the suggestion was simple: create a really expensive bread maker and put it on the shelf next to the existing one.

Why? Because a new, higher-priced bread maker gave context to the original bread maker. If the original was $300, the high-end bread maker was $500. Now that anchor of $500 made the $300 price tag easier to swallow. Hence the consumer bread maker became a household appliance.

This works for your services, too.

When you quote prices, start by talking about the high end investment. Everything after seems more inexpensive as a result. So if your projects go as high as $20k, start there, and reveal lower-priced alternatives after.

Once you do, you’ll be an anchoring pro.