There are many important aspects to running a business, but perhaps the most important of all is your pricing strategy. At the end of the day, whether customers are willing to keep spending money at your business and whether you can afford to stay in business comes down to your prices. Here are five steps to get you on the right path for an effective pricing strategy.
The concept of CLV or customer lifetime value has been used for many years to describe the value of a particular customer or customer segment to a company.
Jenni from the Quick Books Self Employed Community says the following: "I always feel like my prices are too high, yet when I see my competition, their prices are almost double mine."
Businesses can utilize barter to boost sales production. It's easy, it's smart and it works like a charm. In its simplest form, bartering involves an equal trade. One business swaps a good or service for another.
We were debriefing a closing call. Bill’s solution had been selected. Bill had done a great job in competing and in justifying the value of...
Developing a pricing strategy may not be a science, but sometimes it can feel about as difficult as performing brain surgery or engineering rocket ships!...
From time to time some companies lose money on projects through labor overages, material overages or mispricing a project. They have to work harder and more efficiently to make up for those losses. But how much harder and how much more efficiently?
Pricing for your graphic design services can be a tricky affair. But strategizing it properly will help you find the most appropriate price for...
As a business owner, you want your prices to be fair to both you and your customer. But your price should also reflect the value that your customers are getting. Don't limit your pricing based on your fears of what customers will think. If you're still offering value, then you'll find the customers you need.
It's a major sales error to use pricing actions to break a stalled deal lose. Pricing actions are meaningless until the customer decides, "I want to buy." Pricing actions are meaningless until pricing is the only issue keeping a customer from buying.