Getting your pricing just right is tricky. There are big downsides to keeping your prices too low. But it's easy to raise them too high for people to buy anything anymore.
Pricing strategies will help your small businesses make more money. Nothing affects your profits more than the price you charge for your products. But in reality, pricing can be a challenging part of an overall marketing strategy
Now that you have something worth their attention, how do you make contact? By phone? By mail? Before you decide, it helps to first understand how effort and resistance determine which contact methods work best and why.
If you sell a product, then the secret to your success will be to offer a great value proposition. That means that your product should improve people's lives in a way that they deem more valuable than the price you're asking for when you charge them.
Now that you have a better understanding of your prospect's goals and challenges, the next step is introducing yourself in a way that gets their attention and opens the door to a conversation.
In How to Avoid the Low Price Trap we talked about focusing on the tops of the trees, the hard to get clients with the best paying projects. But how do you build that ladder to reach them?
Your pricing strategy is one of the key components of your marketing message. It speaks about things far beyond your cost. It communicates value, customer attentiveness and how you view the relationship, both short and long term. It's not something you should just stumble into.
Why are there so many talented freelancers willing to work for minimum wage?Because most of them are competing for the same low budget projects using the same entry level advertising.
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.
One of the most difficult elements of marketing for most people is the art and science of pricing. There's a lot of science to it—but it's also an art. How do you price your goods and your services? Where do you start?