Aug 24, 2018
In this behavioral economics podcast it is time to apply what I
have been talking about in the first 9 episodes through this very
first on air strategy session, featuring my guest Mariel Court.
Mariel is someone I met in the BizChix Coop (which is Natalie
Eckdahl’s Facebook group). We started a conversation when Mariel
posted about rebranding her business. I have a background in
branding and wanted to be a resource for her, so we became
Today, we showcase what incorporating behavioral economics into
your business looks like. We ask questions to get at the core of
what Mariel really wants. This is a real conversation in the form
of a virtual strategy session. Mariel is the owner of Gypsy Moon
Piercing (a body piercing and fine jewelry studio in Medford,
Oregon). Today, Mariel shares her two biggest issues which are
changing her name and talking about pricing. We focus on pricing
and I provide recommendations incorporating behavioral to frame the
You can find Mariel Court here:
Piercing Facebook Page
Gypsy Moon Piercing
- [05:48] Melina wanted to be a resource for Mariel, plus she was
going through her own rebrand.
- [06:18] An on air strategy session showcases what incorporating
behavioral economics into your business can look like.
- [07:15] We ask questions to find out what Mariel really
- [07:36] This is a real process with no boxed solutions.
- [08:23] When someone books a virtual strategy session with me,
it is conducted via a recorded video chat, which I provide to the
client after the call for added value.
- [08:44] Mariel Court is the owner of Gypsy Moon Piercing, a
body piercing and fine jewelry studio in Medford, Oregon.
- [09:03] Mariel's two biggest issues are the name change for her
business and talking to people about pricing.
- [09:22] Sometimes Mariel feels that she is apologetic when
explaining pricing to people, but it is also expensive to run her
- [09:56] She charges a $35 fee plus the cost of jewelry. Gold
starts at $70 per piece.
- [11:34] Gold is handcrafted and a lot more can be done with
- [11:56] When buying gold jewelry, it will probably be more in
the $150 to $200 range.
- [12:06] In the world of anchoring and adjustment when people
hear “starting at $70” they will think the price should be $70 (or
- [13:29] Mariel feels she loses about three quarters of the
phone calls that are about pricing.
- [14:45] Getting the caller to answer personal questions may be
a better approach than talking about pricing right off the
- [17:05] After finding out what the caller wants, recommend
something more affordable like silver colored jewelry to keep the
- [17:57] Parents want to know that someone is going to take care
of their kids. Put the parents and the kids at ease.
- [18:58] Use the person's name and pick out some jewelry that
they may like.
- [21:56] We had a key turn in the conversation. Mariel's concern
was talking about pricing, but it became clear that it was more of
a mindset issue about how she approaches the
pricing discussion. People ask about pricing because they don't
know what else to ask. That is relativity which I talked about in
- [22:38] The subtle shift of talking about value instead of
price (covered in episode 8).
- [24:41] The value Mariel provides is with her impeccable taste
in jewelry and her experience and how much she cares about people.
Her reviews show this.
- [25:51] If you say the price apologetically, people will think
you're overcharging them.
- [29:35] People buy on emotion. You want them to fall in love
with the product before you ever talk about pricing.
- [31:23] Piercing could be a special day for moms and their
daughters and become a really important memory.
- [33:55] Mariel does more jewelry sales than she does
- [34:21] She has an active Facebook group even though it's only
three months old.
- [35:38] Choosing whether to focus on kids or adults and
building an experience around that focus (pick a
- [37:44] KEY POINT: Selling the experience as opposed to selling
the price of the jewelry.
- [39:50] There are things that Mariel can do to make her
customers feel special, like having a stuffed animal for the kids
which would be included in a “princess package.”
- [41:14] The subconscious relies on emotion. Find the things
that make them want to come in before they even visit the
- [43:33] Once people have committed to a certain package, Mariel
can show them upgrades, and they will feel like they are only
paying the difference.
- [43:59] I would love to hear what you moms in the audience
think about the suggestions we talked about. Would you pay more for
the “princess” experience? Let me know in the comments.
- [44:35] KEY POINT: Incorporating behavioral economics into your
business doesn't have to cost a lot. There are small things that
can make a big difference.
- [44:47] Look at the brain's natural decision-making process and
find the right way to incorporate your business with that.
- [45:04] The queen package I mentioned is a high anchor with
relativity to make the princess package look more attractive.
episode 5 for more on that.
- [46:37] BONUS! Because this is episode 10, I want to do a 10%
off special for all my listeners! This can be applied to a virtual
strategy session or the workshop I have coming up in Seattle on
- [46:46] If you want to take advantage of 10% off a virtual
strategy session, schedule a 15 minute consult call (which is free)
by September 30, and if we end up working together, I will apply
that 10% to whatever we deem is the best solution for you.
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