Posts Tagged ‘Pricing Strategy’
6 Fatal Mistakes Business Owners Make
It’s challenging to start a business no matter what stage of life you are in currently. But, with today’s access to blogs, podcasts, seminars, and webinars, there is a wealth of information out there to help you minimize your mistakes and maximize your success. Having started more than 15 businesses and selling three of my…
Read MoreFlex Pricing: Why One-Size-Fits-All Doesn’t Work in 2022
When it comes to product pricing, many companies adopt different pricing models based on the demands of the industry. However, for the most part, the one-size-fits-all model still dominates the business landscape, as many companies have difficulty shifting to friendlier pricing models. Image: https://pixabay.com/photos/window-business-office-seminar-770535/ That said, despite the relative popularity of such a pricing model,…
Read More5 Steps to Help You Decide on the Perfect Property Investment
Property investment can be daunting, especially when you’re putting into it a large amount of your hard-earned money. There are an endless series of choices to consider, and you must purchase the right property in order to succeed. That’s why so many investors are skeptical about purchasing without the correct research first. Understandably, you want…
Read MorePricing Strategy Guide: Service Businesses
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! Service businesses are at particularly high risk of pricing confusion. It’s much trickier to put a dollar value on things like time and expertise than to determine the cost of producing…
Read MorePricing Strategy Guide for Product Businesses
It’s obvious that the price of your products have a lot to do with the profitability of your business. Exactly how to price products in a way that maintains or increases your profitability is a little less obvious. Here are the first two steps toward developing an effective pricing strategy for your small business. Do…
Read More10 Steps to a Successful Pricing Strategy
During the price strategy planning processes, companies assess past strategies, analyze how well each did, and plan prices for the upcoming year, eagerly anticipating a significant impact on the bottom line. After all, a 1% increase in price can result in an 11% increase in profit. However, many things can go wrong: customers can reject…
Read MoreDo You Offer Customer Friendly Prices?
Do you offer customer-friendly pricing? Or, are your customers surprised to find that fees, surcharges or other costs have been added to their bill and that their total cost is more than they expected? When this happens, customers can end up feeling like they are being taken advantage of. I was once that customer when…
Read MoreCouponing for Greater Profits
Sometimes, customers need that little extra incentive to come calling at your small business. Consider the coupon. Long viewed as the housewives’ shopping companion (Grandma loved it when the 7-cents-off creamed corn hit the paper!), coupons in this century have taken on a life of their own, with blogs and videos showing extreme shoppers taking…
Read More“We Can’t Justify Your Price…”
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 his solution. There was a strong business case demonstrating tremendous improvements in productivity. In this case, the customer was growing faster than their ability to bring people on board supporting the…
Read MoreMaking a Freemium Model Work for Your Business
In today’s digital age, consumers and businesses alike are inundated with new tools that promise to make their lives and jobs easier, more efficient, more sustainable and more fun. But in a world in which software-as-a-service (SaaS) tools and cloud-based apps are as plentiful as grains of sand at the beach, consumers have nearly limitless…
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