413. “The Payless Price Prank” How Payless Shoes Can Help You Raise Your Prices & Provide More Value To Your Clients

The Fitness Business Podcast with Erin Dimond and Jordan Dugger

Erin Dimond and Jordan Dugger

Health & Fitness, Nutrition, Fitness

4.6 • 667 Ratings

🗓️ 2 March 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This was such a cool story and has so many parallels to value, price, and your business that I had to share it on today's short episode. I want to share a Payless Shoe Store prank that was pulled to show you the difference between price and value and what that means for your coaching business.

Time Stamps:

(0:42) Payless Shoe Prank

(2:42) Value vs Price

(6:24) What Your Potential Clients Are Going Through

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Transcript

Click on a timestamp to play from that location

0:00.0	Price and value are often used interchangeably, but they have entirely separate meanings.
0:05.3	Value is how much you believe something is worth, whereas price is simply how much it costs to buy
0:11.1	something.
0:13.0	Hello, everyone.
0:14.2	Jordan here, the FitBiz podcast.
0:16.0	So excited to talk to you today.
0:17.6	This will be a short, quick value, quick perception shift episode, if you will. And I'm going to talk to you today. This will be a short, quick value, quick perception shift episode, if you
0:22.5	will. And I'm going to talk to you about a funny story that our client, or our success director,
0:28.9	director of client success, Travis, who if you're a client, you know Trave Train real well. He shared
0:32.9	this with me and he's like, hey, you should use this with in some way in marketing. I'm like,
0:37.1	man, this video is hilarious.
0:38.3	So it's this story about pay less shoes and how they played this prank that I'm not going
0:43.1	to like reveal the whole story.
0:44.0	You might maybe have heard this, but they revealed this prank, which really just goes
0:49.4	to show this idea between value and price and how value and price are two very different things.
0:56.2	And I'm just going to play the video for you and then we'll unpack it a little bit.
0:59.9	And this is going to help you to better understand and have confidence as to why you
1:05.1	should be pricing your program appropriately.
1:08.1	In other words, not undercharging.
1:10.0	So let's go ahead and play the video and then we'll
1:11.9	unpack it from there.
1:16.9	Making headlines by the chain pay less shoes. They held a grand opening of a luxury store
	...

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