September 23, 2019
What if my target market can’t afford me?
Sent by Jonathan Stark on September 23rd, 2019
Here’s an old joke from my days in music school:
Q: What do you call a drummer who doesn’t have a girlfriend?
A: Homeless.
LOL!!!
Here’s the thing...
Lots of people tell me that they’d like to help a particular target market but throw up their hands and say “unfortunately, they just can’t afford me!”
And yet... there are plenty of million dollar organizations serving both musicians and the homeless, which both have a reputation for being a little short on cash.
So...
If your current target market can’t afford the fees you’d like to charge, here are two ideas for you:
- Target a wealthier market with your existing offerings
- Design a lower cost and more scalable offering for your current target market
There’s no shame in other approach. Both tactics can achieve similar financial goals. But if you’re in this situation, please do something, because trying to sell champaign to folks on a beer budget is frustrating for all involved.
Yours,
—J