236 How to Raise Your Prices (and Make More $) Using Price Anchoring
My Digital Farmer | Marketing Strategies for Farmers
Release Date: 11/08/2023
376 What Should I Call This? How to Name Farm Products (So That They Sell)
My Digital Farmer | Marketing Strategies for Farmers
Could changing one word on a sign or product listing make a product sell better? Last week at our Farmer's Bag Toledo pickup, I noticed something strange happening with two kinds of onions sitting right next to each other. Customers kept choosing one—and passing over the other. Then one of our volunteers made an observation: “I wonder if it's the name.” That comment made me think, "Oh I've got to do a podcast about this!" Because as farmers, we often name our products based on what we call them -- i.e. the variety in the seed catalog, the technical name of the cut, or whatever makes...
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375 The Five Transformations Farmers Really Sell
My Digital Farmer | Marketing Strategies for Farmers
What if your customers aren't actually buying your vegetables? In this episode, Corinna shares a personal story from her son's Air Force Basic Training that reinforced a key marketing principle, and it has nothing to do with farming. If you've ever struggled to know what to say in your emails, on your website, or in your social media posts, this episode will help you uncover the deeper reason people choose to buy from your farm. Eventually all business owners realize that customers don't buy products... they buy the life those products help create. You'll learn how to identify the...
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374 Behind the Launch: How Farmer's Bag Toledo Went From Idea to Sold Out
My Digital Farmer | Marketing Strategies for Farmers
How do you go from a random idea... to selling out a brand-new food access program in just a few days? In this episode, I'm pulling back the curtain on the complete behind-the-scenes story of launching The Farmer's Bag Toledo. You'll hear how one unexpected meeting planted the seed, how the right partnership changed everything, why we chose to beta test instead of trying to make it perfect, and all the practical work that happened behind the scenes -- from pricing and logistics to technology, funding, naming, messaging, and launch strategy. If you've ever had an idea sitting in your notebook...
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373: The 7 Essential Offers Every Farm Business Needs
My Digital Farmer | Marketing Strategies for Farmers
Imagine asking the first runner in a relay race to carry the baton from the starting line all the way to the finish. No winning team would do that. Yet many farm businesses unknowingly expect one offer to do exactly that. In this episode, I introduce a simple framework that completely changed the way I think about marketing: The Offer Portfolio. Instead of relying on one offer to attract new customers, create first-time buyers, build loyalty, increase order value, and generate referrals, you'll discover the 7 essential offers every farm business should consider -- and the unique role each one...
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372 Dealing with Dread: The Hidden Marketing Obstacle That's Keeping Farmers Stuck
My Digital Farmer | Marketing Strategies for Farmers
Have you ever found yourself putting off the very marketing task that could help your farm grow? Writing the email. Launching the promotion. Recording the video. Raising your prices. Building the sales page. You know it needs to get done... but every time you think about it, you feel that heavy sense of dread. In this episode, I share a personal discovery that is challenging the the way I think about procrastination, marketing, and business growth. After catching myself avoiding two important projects this month, I realized something surprising: I wasn't avoiding the work. I was avoiding the...
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371 Re-Broadcast: Use This Weekly Checklist to Sell More at the Farmer's Market
My Digital Farmer | Marketing Strategies for Farmers
This podcast is for all of you who go to farmer's markets!! This episode is a rebroadcast! I first recorded it two years ago, and I decided to share it again, because it needs repeating! Do you want to walk away from the market feeling like you did everything you could to maximize sales that day? Here's a fact: You're going to sell more at the farmer's market if you do a little bit of preparation in the sales strategy department. In this episode, I'm sharing my checklist of "things to make sure you do" before you hop into the truck and head to market. Things like: create a weekly special...
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370 Finding the Friction That's Costing You Sales
My Digital Farmer | Marketing Strategies for Farmers
Every farm has friction. The question is… can you see it? Friction is anything that makes buying from your farm harder than it needs to be. It shows up in every business—often in places we've become blind to because we know our own systems so well. The good news? You don't have to eliminate every point of friction to see results. Sometimes removing just one obstacle can make a meaningful difference. In this episode, I'll introduce you to the concept of becoming a Friction Detective. Together, we'll explore the most common places friction hides in a farm business, the questions you...
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369 The One Metric That Tells You if Your Farm Leads Are Actually Worth Anything
My Digital Farmer | Marketing Strategies for Farmers
What is a lead actually worth to your farm business? Most farmers know how many email subscribers they have. Far fewer know what those subscribers are actually worth. And that can lead to some very bad marketing decisions. In this episode, I introduce a simple metric called Earnings Per Lead (EPL) that helps you measure the value of the people entering your world -- i.e. whether they came from a Facebook ad, a farmers market, a farm tour, a referral, or a lead magnet. You'll learn how to calculate EPL, why it's different from Cost Per Lead, and how it can help you decide which marketing...
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368: How to Prioritize Your Farm Marketing When Time Is Tight
My Digital Farmer | Marketing Strategies for Farmers
One of the questions I hear all the time from farmers is: "What marketing channel should I focus on?" Or: "If I only have a few hours a week, what's the minimum marketing I need to do?" But I think that's the wrong question. The real question is: Where should I invest my limited marketing time so it creates the biggest impact? In this episode, I share a simple framework to help you decide where your marketing time should go based on the three metrics that actually drive farm revenue: customer count, average order value, and order frequency. We'll talk about the four places marketing time...
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367: Not Every Offer Is a First Offer: A Live FMS Coaching Call with Pigasus Meats
My Digital Farmer | Marketing Strategies for Farmers
What happens when you launch an offer that seems like a no-brainer... and nobody buys it? In this episode, you'll listen in on a real coaching call with Lexi from Pigasus Meats. Lexi came to the call frustrated because their Simple Supper Box subscription had only attracted one customer after months of promotion. As we dug into the problem, we uncovered a lesson that applies to every farm business: Not every offer is the right first offer. Many farmers assume that if an offer isn't selling, the offer itself must be flawed. But sometimes the real issue is where that offer sits in the customer...
info_outlineHow do you raise your prices and get your customers to buy at that price point? (And feel good about it?)
In today's episode, I'm diving into a crucial aspect of farm marketing: the art of price anchoring.
Have you ever gone to Amazon to buy something with a certain idea in your mind of what something will cost?... and then you see what Amazon thinks it should cost?...
For example, I recently needed to buy a countdown timer for our Chopped Competition -- a big one that everyone can see from the room. Amazon had one priced at $300 (!!!), then another one at $65, and another one at $125.
Guess which one I bought?... Yup, the $125 one.
AND... I felt okay with it.
Honestly though, going into it, I was hoping for a $75 option. That's where my mind was. But then I saw the $300, and realized I was at the wrong pricing table. So the $125 suddenly didn't feel so bad -- like I had compromised and found a good happy medium in quality and price.
This... is price anchoring in action. And if you know how to use it, it can help you raise ALL your farm product prices, get people to buy at that price level, and make you more money.
Price anchoring is a psychological technique where consumers use an initial piece of information to base future buying decisions. You set a mental benchmark, or an "anchor" with a high price tag, and then this creates a perception that subsequent (slightly lower) prices are a better deal. (Meanwhile: you've also raised the prices of those subsequent, slightly lower prices, too).
You see this ALL OVER THE PLACE in the retail world. And in this episode, we dive into the details of how it works.
It's time you learned the psychology and strategy behind what makes this work.
Your homework from this episode is to set up a product with a higher price anchor, position your other products around it, and guide your customer this week to buy the thing you want them to (at the price you want).
This podcast was sponsored by Local Line, the leading e-commerce platform for the local food system. Try Local Line for your farm today! Local Line is offering a free premium feature for free for one year on top of your paid subscription. Claim your discount by signing up for a Local Line account today and using the coupon code: MDF2023. Head to my special affiliate link to get started: www.mydigitalfarmer.com/localline
This podcast was also sponsored by: The Thriving Farmer Podcast. In this top-rated farm podcast, you'll learn the latest tricks and strategies of successful farmers, strategize with in-depth interviews with leaders in the industry, and connect with stories of farmers just like you. In our interviews, we focus on building farms that last, on setting up systems, knowing your customers, building your team, and creating a work/family/life balance. With over 15 years of farming background, your host Michael Kilpatrick has the experience and authority to bring you practical advice, ask the hard questions, tease out the gold nuggets, and help share what it’s really like to build a profitable, sustainable farm.
Subscribe wherever you listen to your podcasts or visit: https://www.thrivingfarmerpodcast.com/
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Some of the resources mentioned in this episode:
Join my free email list! I have a great "Crash Course in farm marketing" that will guide you through the marketing jungle over the course of several months. Each week, you'll get a new email with suggestions and tips to make your marketing better.
Join my CSA Renewals Course: CSA Early Bird Campaigns that Convert. In this program, I teach you my exact process for how I build my renewal promotion campaign every fall, that gets 80-90% of my members to sign up again by November 1st.
Sign up for my CSA Academy -- and get access to my CSA member resource library to use for your own CSA (as long as you're a paying member). Use coupon code TRIAL to get your first month for $1.
Find my Facebook group for farmers!
Follow me on Instagram for a daily IG story tip on marketing! @mydigitalfarmer