A short YouTube monologue (by Eric Deeran - Master Filmmaker) arguing that price functions as a signal of quality: charging low prices makes prospective clients view a service as cheap/low-quality, while high prices (e.g., $25,000) create an immediate perception of greater value. The speaker uses examples (video pricing, Amazon lamps) to illustrate how consumers infer quality from price.
You get what you pay for. You want cheap, you get cheap. You want expensive, you get expensive. There's a reason things cost a certain amount of money. And so if you're charging a little amount of money, it's actually worse for you and your brand because people don't believe that you're actually a premium service if you're only charging a thousand dollars a video. Like, if somebody came to me and said, hey, I'm going to charge a thousand dollars a video, I wouldn't think that they would actually give me something of quality. Whereas if someone comes to me and says, hey, it's going to be $25,000 for this, immediately, just because the price is more, I'm going to think that that thing is worth more. Same thing, like if you go on Amazon. If you go on Amazon, you have a lamp, right? One is 25 bucks, one is $1,000. Could be the same lamp. You immediately think that the One that is $1,000 is worth more. So if you're not pricing yourself properly and you're not pricing yourself at a high amount, clients are going to think you're cheap and that you're not worth it.
