So what’s a fair price to pay for a bottle of wine?

Well if it’s a few bottles to have in the house and enjoy the occasional glass in the evening over a chat with my wife or sitting in the garden getting eaten alive by midges (as last night)…

…then I like to pay £5 to £8 ($8.50 – $13.50)

And if we’re taking a bottle or two round when we visit friends for some grub we maybe pay £8 – £10 ($13.50 – $17)

But if we’re out somewhere for a fancy meal I don’t mind splashing out on a classier or vintage bottle in the £40 region ($68)

Just once in a while…

I’ve had bottles priced at around £300 in the past but I’ve found that once the price goes past £40 at an absolute maximum I can’t taste the difference.

I’ve tried but apparently you need an ‘educated palate’ and mine didn’t get much past junior school it seems

OK here’s the similarity to online business…

How much would you pay for software?

(Let me flip the coin and give you an example from a software seller’s point of view)

We sell some software that can be used in a lot of aspects of online business.

It’s the SAME software in all cases

…except that when we’re offering it in the internet marketing niche it goes out free as a list builder under a certain name.

When we’re selling it to non-IM buyers we give it another name (exactly the same software) change some of the links inside that feature ads and sell it for a given price – it’s not free in this particular niche

And THEN when we sell to businesses, (based on the deal we strike) we change the name AGAIN, brand it with their company logo and charge a lot more because we sell it as a ‘software solution package’

Is this unfair?

Of course not – it’s business.

But more than that, it’s about knowing your market, knowing what they can afford and knowing what they want to see.

The higher end business wouldn’t TOUCH free software even though essentially it’s exactly the same thing.

And the IM crowd wouldn’t pay business rates for the software, and if they did they’d scream to high heaven because although it’s very effective and streamlined, it’s also very simple.

IM buyers like bells and whistles.

The moral?

When it comes to selling…

…It’s essential that you know your market 🙂

Because if you try to sell a £5 bottle of wine to a palace banquet they’ll laugh you out of the place…

…and if you try to sell a £40 bottle to someone who just wants a quick glass of red in front of the telly after work…you won’t make many sales

Even though there’s a very real possibility it could be the same stuff, and someone just swapped the labels round 🙂

So how much would you pay for a bottle of wine?

Depends on the label, the circumstances, what it’s intended for and who it’s being sold to.

Comments welcome – let me know what you think

(PS The one in the pic cost about six quid)

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