I’ve been in the business world for over 40 years and I’ve lost count of the number of times that discounting has exacerbated a sales decline it was intended to avert. Conversely, I’ve seen sale declines turn around with amazing alacrity through more focused, value-oriented marketing messages.
Dale Furtwengler
Communicating Price Increases
These simple tips can help you minimize ‘sticker shock,’ get the price increase you so richly deserve and retain the customers you want. Now that’s a winning combination.
A Pricing Problem
I recently had a truly unusual, memorable experience facilitating a discussion about pricing. What made it unusual? There wasn’t one question about pricing. Yet every person there described their ‘problem’ as a pricing problem. What were the real issues?
A Tale of Two Pricing Strategies
Imagine two companies. One touts the results the customer can expect and charges premium prices, the other touts its low prices. Which one wins?
Flying Blind
Imagine that you’re a seasoned pilot. You’ve filed your flight plan, then a massive snow storm hits. Visibility is zero and the winds are gusting up to 30 knots. Are you going to take off?
When Buyers Behave Irrationally
Being known for consistently high quality increases the desire buyers have for your offerings as well as the premium they’re willing to pay.
The Wrong Hero
If you want your marketing messages to translate into sales at premium prices, tell stories in which customers and prospects can experience the joy of your offerings—even if they haven’t tried them yet.
The Allure of Low Prices
I missed the irony on my first read of the email in which a marketing firm talked about pricing. The second reading left me laughing. It never ceases to amaze me how alluring low prices are to sellers.
When is a Reward NOT a Reward?
Converting a reward program to a marketing program is a violation of your customers’ trust. Losing their trust is one of the quickest ways to drive your customers to your competitors.
Of Price and Profits
How is it that businesses consistently fail to see the relationship between price and profits? What I suspect is that many businesses believe that it’s easier to compete on price than to differentiate.
