236 How to Raise Your Prices (and Make More $) Using Price Anchoring
My Digital Farmer | Marketing Strategies for Farmers
Release Date: 11/08/2023
292 My End of Year Housekeeping Tasks for Farm Marketing
My Digital Farmer | Marketing Strategies for Farmers
As the year winds down, it’s the perfect time to take stock and set yourself up for success in the year ahead. In this episode, I’m pulling back the curtain on the 10 essential housekeeping tasks I tackle every December to keep my farm marketing game strong. These aren’t just mundane chores—they’re strategic moves that help me reflect, refine, and refresh my business for the new season. Curious? I’ll walk you through each of these tasks step by step. From evaluating my marketing efforts with a critical eye to organizing the chaos of my digital workspace, I’ve got a checklist...
info_outline
291 Debrief: My CSA Early Renewal Campaign Results!
My Digital Farmer | Marketing Strategies for Farmers
What does it take to run a wildly successful CSA renewal promotion? In this episode, I’m breaking down the results of my recent early bird campaign and sharing my biggest takeaways. With 80% of my members renewing and nearly $300,000 in revenue generated, this campaign was one for the books! But what made it work so well? Tune in as I reveal the strategies, insights, and lessons learned during this promotion, so you can apply them to your own CSA renewal campaigns. Whether you're looking for ways to spark excitement or wondering how to handle your own post-promotion debrief, this episode is...
info_outline
290 I Threw Together This Farm Marketing Promo in ONE HOUR
My Digital Farmer | Marketing Strategies for Farmers
Ever feel like you don’t have enough time to create a great marketing campaign? What if I told you it’s possible to throw together a full week’s worth of promo content in just ONE hour? That’s exactly what happened to me yesterday. In this episode, I’m sharing how I turned a simple promo post for my Fish Holiday Sampler Boxes into a full-blown 7-day marketing campaign. All it took was a little inspiration, some quick thinking, and leveraging the content I already had in my back pocket. You’ll hear the behind-the-scenes of how I pulled from existing resources like customer photos,...
info_outline
289 How to Quickly Qualify a Farm Lead or Prospect
My Digital Farmer | Marketing Strategies for Farmers
Are you struggling to identify and prioritize your best customers? Ever felt like you’re just throwing spaghetti at the wall, hoping for a sale to stick? What if there were a proven framework that could help you qualify leads more effectively, saving you time and energy? In this episode, we’re diving into the B.A.N.T. formula—Budget, Authority, Need, and Timeline—a powerful tool that top sales professionals use to zero in on their ideal customers. But how does this framework apply to selling directly to consumers, especially when they’re deciding whether to commit to a CSA membership...
info_outline
288 How Much Longer?... The Value and Purpose of Waiting in Business
My Digital Farmer | Marketing Strategies for Farmers
Ever feel like your farm business goals are taking too long to materialize? In this episode, we explore the often-overlooked value of "waiting" in business and why those seemingly stagnant moments are vital for growth. Drawing from my own journey through a long waiting period, I unpack the hidden benefits that emerge when we embrace the "in-between" times. Whether you're waiting to go full-time, reach a new revenue milestone, or snag that big wholesale gig, there's a lot happening beneath the surface—and it's all happening for you. In this episode, we discuss: Why waiting is a...
info_outline
287 The Corporate Transparency Act Deadline: What Every Farmer Should Know
My Digital Farmer | Marketing Strategies for Farmers
Have you filed your CTA report yet? (Do you even know what that means?) This is a fairly "new" (and unknown) legal requirement and I'm discovering that a lot of farm business owners have no idea about it. As a business, you may have to file a report, and you have until December 31, 2024, to do so (or face some big fines). In this episode, I break down the Corporate Transparency Act and its implications for business owners, especially small farms. With insights from my lawyer Richard Chamberlain, we dive into the federal reporting requirements designed to identify your beneficial owners...
info_outline
286 What's Your Farm Lead Worth? Farm Metrics: Understanding your EPL (Earnings Per Lead)
My Digital Farmer | Marketing Strategies for Farmers
November 6, 2024 by Corinna Do you know how much each lead is worth to your farm business? In this episode, we dive deep into the concept of Earnings Per Lead (EPL) and how it can transform the way you approach marketing for your farm. I’ll explain exactly what EPL is, how to calculate it for both paid and organic campaigns, and why this metric is critical to understanding the value of each lead. By tracking EPL, you'll learn how to make data-driven decisions to boost your farm’s revenue, whether you’re running a CSA, selling farm products, or hosting events. Listen in to discover:...
info_outline
285 Boost Your Farm's Revenue with Value-Added Products: Insights from Kendall Ballantine
My Digital Farmer | Marketing Strategies for Farmers
Are you creating value-added products and selling them in your farm business? After hearing this episode, you may decide to get started! "Value-added" refers to any agricultural products that have been processed or enhanced in a way that increases their market value. This could involve transforming raw farm products into something more convenient, shelf-stable, or unique, thus making them more appealing to customers. For example, turning fresh vegetables into pickles, making jams from fruit, or creating bone broth from animal by-products are all considered value-added because they offer more...
info_outline
284 Holiday Promotions: How to Prep Your Farm's Online Store for the Holidays
My Digital Farmer | Marketing Strategies for Farmers
With the holidays coming, are you preparing any farm promotions to finish Q4 strong? If not, this episode is for you. I've invited my friend Christina Marbury (the marketing director of Taste the Local Difference -- a marketing agency for farmers) to share her expertise in building holiday promotions that sell. Christina has the advantage of working with hundreds of farms across the Midwest on their marketing strategy, and she has seen the types of offers that work well for the Thanksgiving/Christmas seasons. Your consumer is "trained" to buy this time of year. Between gift giving and the big...
info_outline
283 CSA Early Renewal Promotions: My Process
My Digital Farmer | Marketing Strategies for Farmers
Are you a CSA farmer that has to get their members to "renew" every year and it always feels like a STRUGGLE? I've got you, my friend, because in this episode, I share my process for setting up my CSA early sign "renewal" promotion every fall in the final week of my CSA. I give them only 7 days to make up their minds. I've used the same sales system for the last 7 years, and I consistently get 75-85% of them to renew. Here is an overview of the steps that I walk through in more detail in the episode. Use this as your checklist for running your own campaign: Set the three key dates....
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/
Hit play and let's get started!
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