Did you know that Disney’s theme parks pull in over $20 Billion a year, despite charging prices that would make a hedge fund manager blush?
Seriously, people are forking out small fortunes to hug a giant mouse and queue for hours to ride spinning teacups. Okay, so I exaggerate a little, but have you ever wondered, how can Disney command such premium prices?
The answer is: they've strategically mastered the art of how to stretch prices further and further, without reaching a breaking point.
Let’s face it, as small business owners, we’re often terrified of charging premium prices. So, we tend to undercharge, overwork, and wonder why we feel like that tired parent lugging around five kids at Disneyland.
Here’s the secret, though: premium pricing isn’t about squeezing every penny—it’s about making what you offer so valuable that people can’t help but say, “Shut up and take my money.”
Here's how Disney does it, and how YOU can do it too:
1. Sell the Experience, Not Just the Product 🪄
Disney doesn’t just sell theme park tickets; they sell the dream of being a princess, a pirate, or a cartoon crab that sings about the joys of unemployment under the sea. You’re not buying a day out—you’re buying a slice of fantasy.
Similarly, your service or product should offer more than just a transaction—it should promise an experience, a transformation, or at the very least, less paperwork.
2. Build a Cult—I Mean, Community 💫
Let’s be honest: Disney is like a cult, and people buy in like it’s a multi-level marketing scheme, except with more glitter. They slap Mickey ears on their kids, tattoo Tinker Bell on questionable body parts, and somehow convince themselves that paying $15 for a bottle of water is completely justified.
How can you learn from this? Create a brand so appealing that people feel they *need* to be part of it. When your customers feel like insiders, they’ll pay premium to 'feel like they belong'.
3. Pile on the Perks 🎁
Ever noticed how Disney is an expert in charging extra for things you didn’t even know you needed? Genie passes, VIP dining experiences, and, of course, a souvenir photo of you screaming on a roller coaster. It’s all about the upsell, and they always do it with a smile.
Think about what extra value YOU can offer. Consider premium packages, exclusive offers, or even just a nicer version of whatever you currently do. People like options—especially when it makes them feel like a VIP.
Disney’s trick isn’t just that they charge more; it’s that they’ve made paying more feel like a privilege.
As Walt Disney once said, "We don’t make movies to make money, we make money to make more movies."
So, why not take a page from Disney’s book: make your offering irresistibly valuable and watch your customers line up, cash in hand, like it’s the last Dole Whip on earth.
Regards,
Andrew
P.S.What’s your biggest pricing dilemma? Let me know in the comments and let’s commiserate.
