You all know who Henry Ford is. Don’t you?
Yes, that’s right. Ford was the person responsible for making the motor car affordable.
What he did. Is put the motor car & mass production together. Which converted the motor car into affordable practical transportation. Making Ford one of the richest and best-known people in the world.
Ford’s mass production assembly line brought the build time down (on the famous Model T) to just 2.5 hours & a new 1 rolled off every 3 minutes. Reducing the price to just $360 (equivalent to $8,000 today).
To keep up with the speed of production. It was only available in black. As it dried the quickest. Ford famously wrote. “Any customer can have a car painted any colour so long as it’s black”.
It wasn’t until much later that Ford (somewhat forced by competition & consumer demand) introduced new models on an annual basis & made optional extras (such as colour) available.
Which is where the motor industry is still today. The price covers the entry level model with the standard specification. In red white or black. Any extras such as metallic paint, leather seats or improved performance cost a little bit more.
Of course. This is until monthly subscriptions. Although the principle will still apply. Base models will cost say £500 a month & will increase in set amounts according to the optional extras you request.
I suppose what I’m trying to say here. Is that we can all (with a bit of brain power). Work out a process or system (like Ford did). where we can make our products & services affordable to our own target markets.
At the time for Ford. It was honing his production line to get a Model T to roll off every 3 minutes. Bringing the sell price down to $8,000 in today’s money. In the future. It will be offering affordable monthly subscriptions aligned to each vehicle & it’s target market.
Organisations like small businesses, charities & school classrooms. We’ve reduced the average total printing cost by 60% through a repeatable service. Which includes a multi-function business printer, unlimited cartridges & maintenance. In an affordable monthly subscription with no cost of entry.
Okay. It’s not quite the same as Ford. We guarantee your price will never increase. The printer (if it breaks) will be fixed or replaced for free. And we guarantee no extra charges for wear & tear items like brake pads, discs or tyres.
Maybe it’s time to re-assess your own go to market strategy. Henry Ford might just have some hidden learnings for you too?