What Can Expensive Tuna Teach You About Marketing?

Warning: At the start of this video is a special introduction from someone who, well, doesn’t share some of the same values I do, so please be warned – he’s a bit confronting and his language is a little rough around the edges.

After the intro from my guest, I take over and present a simple lesson with the help of some expensive tuna fish. Press play to begin watching…

I recently made a purchase of a rather expensive tin of tuna fish, which triggered a thought in my mind regarding the high prices people are willing to pay for certain items that can be obtained in other formats for much cheaper, and why they are willing to spend more. I use the example of premium tinned fish in this case, but the principle can be applied across almost all product and service categories.

I’ve never liked competing based on price because as a small business owner I don’t have economies of scale that you enjoy as your business gets larger thanks to efficiencies in production or resource use.

The pricing model I’ve always sought is some form of unique perception in the marketplace, which results in the possibility to charge a premium price for a specialized level of service or insight. This is an outcome that is very attainable for information publishers, as what you provide is unique to what everyone else provides, even if you are talking about the same thing.

Watch the video for more details. I apologize in advance if the humor in the introduction doesn’t gel with you!

About Yaro Starak

Yaro Starak is the author of the Blog Profits Blueprint, a report you can download instantly to learn how to make $10,000 a month, from only blogging 2 hours per day. You can find Yaro on Facebook, Twitter and .

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82 Comments

  • Most important question…how do I get my own bobblehead?!?!

    GReat video Yaro..looking forward to your next call…

  • In sales they teach you to focus on benefits instead of features. It’s not about the type of tin can or even the tuna fish itself.

    Popeye the Sailor got me to eat spinach as a kid because it could make me strong like him (I thought). I don’t think Popeye ever said it tasted good.

    • Hey Terry! I also started eating spinach because I wanted to be strong like Popeye! Cartoons really do have a powerful influence on kids huh? Ha…

      Cheers~

      Mark

      • I still do! You are right that comics have a powerful influence on children and it can have life long impacts.

  • That was a great video Yaro…but i think the humor with little Yaro was needed…we all take ourselves too seriously, it is good to laugh sometimes.

  • Perfectly fine introduction. Had it been in any other way, it would have sounded unnatural.

    There is a saying “Take the market for what it can take”! Applies well here.

  • Thanks for the laugh Yaro! Will mini Yaro be making a guest appearance on the Mastermind call tomorrow, I’m sure he’d have some interesting points to add. πŸ™‚

    Thanks also for reinforcing the point about being unique even if we’re talking about the same thing as everyone else. Marketing in noisy niches can be quite disconcerting but every time you remind me about how each of us delivers our own unique offer I gain back some confidence.

  • Yeah, i agree with you Yaro. Even if i am a rich man i would prefer to choose the quality one, than wasting my money for the same stuff that i actually can get with little money..

  • I want my own bobblehead!

    Joel is a pearl, to be sure.

    Personally, I’d like to see more mini-Yaro… you might consider taking some improv classes… less is more and all that.

    I struggle immensely with determining what I bring to a very crowded table. While I’m certainly unique with respect to my skill set, translating that skill set into sales has been difficult so far.

    That is, I’m struggling to find relevant differentiation.

    Thanks for the video. It’s inspiring me to keep pounding on my new ebook!

  • Seriously, the mini-Yaro seems is quite interesting and after seeing min-Yaro presentation, something just got into my mind, and here’s what’s in my mind… If you want to shoot a video and you are afraid to do so, you could do it like what mini-Yaro had just done.

    I’m not sure what I had thought is a great ideal but to me, is sort of an ideal I could use to actually do video post. Anyway, was wondering where can we make that mini-of our-self at?

  • Yaro,

    I love mini-Yaro! It’s so unique and different. It’s interesting that status symbols are changing. There’s the Seth Godin action figure and now the mini-Yaro bobble-head. Bottomline, this post was entertaining and educational.

    You know you will have to do mini-Yaro again. I would love to see a split screen of you and mini-Yaro.

    Thanks so much

  • Haha I think my favorite part of the video was when mini yaro took a spill

  • LOL! one of the best video – I like the sarcastic talk about how we people trying to do business online by buying products. and hoping to get the magic somehow shows up when we click the buy now button.
    Sometime, I can visualize myself when mini-Yaro talks… πŸ™

  • Hey Mini Yaro,

    I managed to purchase up about 10 new courses today… will that do? I just need to cram my brain for the next year.. what do you think? Is this enough?

    Seriously, that was fun to watch.

    Tuna is yummy – thanks for the “high end” lesson.

    PS. Not sure if having a Mini version of myself would creep me out or not. πŸ™‚

  • Thanks for the laugh, Yaro! You are taking a big step in the right direction. Videos are meant to be Edutainment: Educational and Entertaining at the same time. Looks like you learned something from the video marketing queen!

  • Hey, Mini-Yaro – I’d have one question: who the heck was that long guy who stole the audience after you had set the stage? πŸ˜€

    Oh, and give more info on how to get rich really quick. πŸ™‚

  • You know you’ve hit the big time when you have your own mini-Yaro!

    Premium products and therefore, premium pricing is a smart strategy. You generally have fewer customers but for the same, if not far more profit and with far less labour required. Customers who buy based on price also tend to shop around, not focus on value and are often less loyal.

  • Hey Mr. Jr. Yaro, that was a nice act there in the beginning of the video. Good lesson on classifying and pricing your product.

    I think that’s how big IM gurus add more value and make high ticket back end products.

    Mini Yaro can rule the mastermind call. I personally liked him more that you – sorry πŸ™‚

  • Mini Yaro was pretty cool, and made for an entertaining video =D maybe rare appearances in the future wouldn’t be too bad. Could be fun that way too. As far as the main topic to me, it’s a concept of Supply & Demand that I learned about in my economics last year.

    Till then,

    Jean

  • Yeah. Link for purchase of personalized bobblehead dolls PLOX.

  • Joel rocks. He’s bailed me out of trouble more times – gosh, I’d still be futzing and cussing, if not for his help. And what a cool idea for a gift. Speaking of …

    Mini Yaro certainly serves as a funny alter ego for you to poke fun at all those practices that you don’t promote. I think I saw his, uh, “spiritual” twin selling cars on TV when I was in upstate New York this past weekend. πŸ™‚

  • Cute mini-Yaro!

    As I watched your video, the “$5 FREE TRIAL” blog sponsor ad sat to the right-hand side and I wondered, how is something that costs $5, free?

    Also, I’ve been reading your blog for a few weeks now, and not to be rude, but I don’t think I’ve ever had the attention span to finish reading a whole post or watch a whole video… I think I got to about 7 minutes on this one. Did you ever think about shortening posts, or breaking them into two parts?

    Your podcasts are great though, I downloaded almost all of them and they fly by.

  • Yaro, thanks for the splendid video! Apart from being very educational, the “get rick quick” schemes suggested by Mini-Yaro was an appropriate comic relief. I never knew I could learn about marketing from a simple can of tuna. Keep those posts coming!

  • Good points about making yourself stand out from a crowd. It’s the ultimate way to make an aura of gravity to prospects. If it works, it will instantly attract buyers and followers. I think research will play a vital role to create something that will produce uniqueness unto the product.

    I got to say Mini Yaro has some edge. lol

  • Very good Idea, This article clearly high lights the idea of branding a product. I Guess the bottom line is no one has a magic formula for these kind of marketing, so we all learn from practical. Hats off to you for doing the research.

  • Too funny, I think you should definitely offer up a link to whoever makes those “mini me” bobble heads.. who knows, maybe they have a great affiliate program πŸ˜‰

  • Glad you liked it Yaro! I can’t believe it came with a toothbrush though, it certainly wasn’t anything I asked for (why would I?!). Now a microphone could have been useful….

  • LOL, awesome video Yaro

  • I love your intro with mini-Yaro.

    Hilarious …LOL

    Like always, awesome content πŸ˜‰

    Thank to Joel for sharing the link to get those Bobbleheads.

  • Ha ha ha!! I’ve definitely bookmarked that mini-me website page. I agree with the other comments – Mini Yaro should put in a guest appearance from time to time. What about a Mini Gideon?? The you two could put your feet up while the two minis talk to camera. πŸ™‚

    This video answered a question that had been puzzling me for a while: why does a guy from Oz have a North American accent? (As a Londoner, I can’t distinguish between a US and a Canadian accent, I’m afraid.) Certainly a lot warmer Down Under than the frozen wastes of Canada!

    BTW, my local organic shop sells that same Fish 4 Life tuna and it’s nowhere near US$10 here!

  • Amazing intro hehe nice one Yaro πŸ˜›

  • Great Ideas, the TOOTHBRUSH….lol

    The price models concept is very crucial and important when come to set a price for your product or service, it very much depends how your price it.

    A GOOD price does not mean low or high.

    Stanley

  • Yaro,

    Thanks for the good laugh this morning – I have to admit that the resemblance is quite uncanny.

    This is an important lesson for any entrepreneur, whether online or offline. Here’s one thing that often comes up in my entrepreneur groups – people are working their butts off, and not making any money. In many cases, it is simply because they are undervaluing their services. They compete based on price point, which is a good recipe for burnout.

    Copywriting is an excellent example of this – there are thousands of copywriters online – some of them good, and others not so good – but relatively few of them are able to make a comfortable living. It’s usually because they are attracting clients who want cheap content.

    This goes beyond having to spend more hours producing copy. Clients who “bargain hunt” for content tend to know less about effective marketing, so they’re more likely to keep changing the scope and focus of their projects. They also tend to be more demanding in general, constantly burdening copywriters with questions, conference calls, and status requests. So in addition to increased production time, copywriters also end up spending more hours on unnecessary administrative tasks.

    Those who are willing to pay more for good content, on the other hand, tend to have a clearer idea of what they want (and why they want it), and don’t feel the need to micromanage their projects by constantly bugging their copywriters.

    Bringing this back to your video, that’s because content produced by higher-priced copywriters have a higher perceived value. Charging a premium price puts the copywriter in control by saying, “I know what I’m doing – I am in a position of authority.”

    This benefits both the copywriter and the client. The copywriter earns more money for less work, and the client is free to focus his or her attention on other, more productive tasks.

    It works the same in any niche – premium pricing yields greater profits and fewer administrative headaches. For example, people are far more likely to complain about not getting enough onions on a $2 sandwich from McDonalds than they are to complain about a meal at a five-star restaurant.

    An excellent lesson, Yaro. Thanks for posting this. And sorry about the lengthy comment.

    Oh, and as many subscribers as you have, it might be interesting to send mini-Yaro around the world, and have subscribers post pics from their home towns.

    • I agree, totally, Lee. I am a copywriter and I charge Β£530 sterling a day (that’s US$875 at current rates). If any potential clients think that’s too much, then there are plenty of other copywriters out there who will charge far less. But it’s doubtful that they will do such a good job. Thing is, I’ve been doing this for many years, I’m good at what I do and my clients keep on coming back to me.

      So, if you are good at what you do, DON’T undersell your services.

      • Very true, Carole. I know quite a few copywriters who would kill to make that kind of money. But you make an excellent point – what you provide has to justify the premium price. I’m not suggesting that a marketer who peddles junk will succeed with a premium pricing strategy (although I’ve certainly seen it happen, unfortunately).

        All other things being equal, though, premium pricing can do wonders for your business.

        Lee

      • I agree with both of you with the proviso, that for services, it is a different ball game altogether. You need a very hefty bank balance to be able to say no to someone quibbling for a reduction in your fees for one offs.

        • It’s certainly nice to have a financial safety net, Nicole, and it can be a bit nerve wracking to say “no” to a PITA client when you don’t know where your next gig will come from.

          For me, and for the copywriters I do consulting for, it hasen’t been a problem. Say you ordinarily work for $50 and hour, and a client wants you to do a 40 hour project at $35 an hour. If you take that project, you’re losing out on $600 worth of income, because your total fee will be $1,400 instead of $2,000. But… you’ll spend 40 hours on it either way.

          Even at your normal rate, it would take you an extra 12 hours of work to make up the difference. That’s twelve hours you could spend marketing your services, working on additional projects, or parking your butt in a beach chair.

          That doesn’t change the fact, of course, that it can be scary to turn down low paying clients, especially in the beginning. Many of my consulting clients have dealt with that fear for years, and it’s kept then working themselves to death for peanuts. Getting over that fear can be hard… but not impossible.

          Good luck!

          (Why do I feel like we’ve officially hijacked Yaro’s blog post?)

  • Liz

    LOL! Very cute, Mini Yaro was great fun to watch. I would love a mini me! That’s so cute! You also had a great message, thanks for that..

  • LMAO

    Nice hick booblehead voice–but he needs to stay in character.

    We all want bobbleheads but no more mini-Yaro in the videos…

    πŸ˜‰

  • Hillarious dude – really awesome post about pricing this is EXACTLY what I was searching for and I was not sure if I should charge Β£19.99 or Β£24.99 for my new eBook launch – thanks for this awesome post!

  • very informative video!

  • Cool post. Pricing is an issue I have been thinking about recently. I listened to a podcast with Seth Godin and he was careful to sa that you shouldn’t be in a race to the bottom… nobody wins… very true…. Thanks for the post Yaro.

  • Your Message
    Thanks Yaro. I’m just starting out and I appreciate your great advice. Love the Mini Yaro!

  • Good post and video Yaro, that’s a good offline example.

  • Mini-Yaro is so evil! Ha ha ha

  • Sorry to say Yaro…I LOVED the Mini Yaro…really got me engaged…the reason video is so powerful is that people get to ‘leave’ their surroundings and focus on something else…the reason YouTube is so powerful and gets so many views on its videos is because they usually contain some type of entertainment factor. No question, Mini Yaro is good entertainment πŸ™‚

    Great use of video, relationships and education…really nice job helping to promote a friend too…my takeaway from this video is that Yaro is a really great guy.

  • That was very original Yaro! Really Mini-Yaro just stole the show… get him out in the future and he will probably do magic with your audience.

    Great idea! Thanks for it.

  • Hey Yaro your blog is awesome dude and is so full of useful info – I forgot to ask you – do you have any tips / techniques for determining pricing for different online products? Also do you recommend altering pricing in relation to what the economy is doing – e.g. this global recession etc?

    Thanks – keep up the awesome blog dude!

    A.

  • yaro, wasn’t a fan of mini yaro and forwarded through it. thanks for sharing about the tuna.

  • Mini-Yaro is awesome! Keep that little dude around. As usual, I enjoyed the content.

  • How come I couldn’t see the video?

  • Mini-Yaro sure has an interesting take on things. He definitely is a reflection of those get rich scheme tricksters. Very tongue-in-cheek, Yaro. Nice present though, and an awesome personalised corporate gift idea. Whoopassenterprioses definitely deserves the honourable mention they got here.

  • hahahahaha!! You have a bobble-head of yourself!! πŸ˜€

  • Hi Yaro,

    I liked your mini-Yaro.
    It is amazing how much people are willing to spend on something that you can get somewhere else at a cheaper price. I think it depends on how you market it , the benefits, and the branding of the product. If you know who produced the product, or the brand of the product, and you place value in it, then you will spend more to maybe get the same. But I believe it depends on the value of the buyer. Like until recently I did not place value in clothes branding. So I just bought anything, and I still will buy it if I need to. My sister, on the other hand places a high value on her wardrobe, and she only buys brand items. That actually changed recently, not that I buy brand items, but someone brought to my attention that your clothes can make you look slimmer or fatter. This lady sells maybe the same cloth you can find in a high quality shop, but because she knows what suits me better, I will definitely buy from her, even though the price is quite high.

    On the other hand, I do place lots of value on education, so I will spend money on education. While my sister would think is not worth doing so. So the bottom lines, is people will pay different prices for the same items, but that depends on their values. What priority they give to the item they are buying.

    Than you for your article.

    But I was drawn my attention that clothes can change the first impression that you make on people.

  • Well indeed i t was very nice, beside the educational part it was a laugh with the mini Yaro :))

  • Don’t know about Mini Yaro’s concepts, might have bought some online info. products from that guy, LOL.

    Very cool video though. Shows your offer and how you position is what matters with the sale.

  • The Mini Yaro is too cute…you actually got a laugh out of me. I do agree with you. Most times when I’m making purchases, I do consider the price AND quality.

  • Mini Yaro will soon be pop online, Expecting mini yaro will become super blogs guru. The other side of Yaro will be expose on mini Yaro… cant wait the his secrets humor inside. Who will be mini yaro sidekick, maybe the tuna fish, or mini Gideon…

  • aj

    THAT WAS HILARIOUS YARO!!!
    THANKS FOR THE LAUGH πŸ˜›

  • Thanks for the tuna !
    Video is great.

  • Yaro – you’ve gone mad! This video is off the chart!

    1) Where can I get a mini-me doll? I sooooooooooooooooooooo need one!

    2) You are so right on that introduction with mini-Yaro – that’s why the these other marketers make so much money!

    3) Joel: You need to hook a girl up with a new doll.

    Krizia

  • Yaro,

    I ONLY eat Albacore tuna because it’s higher in Omega 3 and when you buy the “chunk” instead of flakes, you get tuna from one part of the tuna as opposed to scarp parts!

    I’m sorry to go on about the nutrition value of Albacore tuna on a business site, but the healthy eater in me just could not let this opportunity to help your readers figure out why they should buy Albacore instead of the non-Albacore.

    Yikes, $10 for one can of tuna is quite high. I get mine for about $2. I will never complain ever again for the fact that it’s twice the price of regular tuna!

    Krizia
    PS: Great lesson about the premium provider. That’s my plan with my membership program and my health/nutrition blog!

  • Thanks for the hilarious video LOL As for me I wouldn’t mind seeing mini Yaro in the vids somewhere. But I’d be just as happy if he didn’t speak every time. The frightening truth is that I have actually heard some real life human marketers say the things mini Yaro says in the video. I wish they were mini bobbies. Oh well. To each there own. πŸ™‚

  • Mini-Yaro is a fine spokesperson, however, you should remove the big, fat hand and work his head with a string
    (like a puppet master – more realistic and less distracting).

    Lesson about premium pricing and perceived value well taken.
    Nice work.

  • Hi
    Just wondering why you mention “Tuna Fish”? Is there another kind of Tuna?
    Saying “Tuna Fish” is rather redundant, isn’t it? You don’t say beef cow or pork pig, do you? Just wondering.

    The rest of the article is fine.

    • That’s actually a fairly redundant argument… (IMHO)

    • mmmm beef cow. Yeah it is interesting how some people refer to tuna as tuna fish. Makes you wonder if there is some tuna bird or tuna mammal that we’re missing out on.

  • Mini Yaro caught my eye and attention πŸ™‚

    Maybe he should get his act together and spend some time experimenting with you and see the results. Because I tell you what… he lives in the world of Ga Ga land!

    But he did grab my attention – nifty!

  • As Howard Shultz, CEO of Starbucks would say, customers are paying for the “romance of the experience”. Reminds me of the very expensive coffee Jack Nicholson’s character in the “The Bucket List” was very proud of. Turns out the thing was made from goat dung or something…LOL.

  • Lol… Love the mini-Yaro! πŸ™‚

  • Amazing Video! Made me to laugh a lot. Video was interesting as well as informational…

  • I think Mini Yaro must be plotting your demise now =P

  • mini Yaro needs a mini laptop so he can get some work done and write some content! πŸ˜‰

  • Certainly i agree with you Yaro. Even if i am a rich man i would prefer to choose the quality one, than wasting my money for the same stuff that i actually can get with little money..

  • Hey Mini Yaro,
    Tell your Dad he needs to let you out the box more often – you’re much funnier than he is!
    I only just got around to watching your one-man-show and I’m so glad I did. It just goes to prove that serious content doesn’t have to be taught in a serious, boring manner. I hope to see you again soon…
    Thanks for cheering me up this morning,
    Celebrity Job Queen

  • Interesting points Yaro. Many people assume that they have to offer the lowest price to compete online. With proper marketing and a great product, you can charge a higher price for the premium product. That higher price automatically leads people to assume that your product is better than the competition.

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