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Pricing Strategy
How to Win a Prospect in the B2B Price War
We invariably talk about the cost or price of a product or service that we are either buying or selling. However, when we are ‘on our game,’ B2B we’ll use the word investment or introduce the idea of value.
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.
How to Turn Down Clients Without Alienating Them
If you’re still building your customer base, enhancing your reputation, improving the quality of your services or products, acquiring customer testimonials and developing a ground-swell of word-of-mouth support, then you’ll likely be exceedingly grateful for—and accept—every client walking in the door.
Why Are They Buying?
Until we and the customer have really internalized why they need to buy, every deal is at risk. What are they trying to achieve? Why are they trying to do it? What are the consequences of not doing it? Why is it important to them now? What’s driving their need to do something?
Losing the Negotiation Before It Starts
Sales people seem to be obsessed with negotiation. They read books, they take all sorts of classes, they strategize “negotiation” sessions. Oddly, when I push on the negotiation issue, most negotiations that sales people focus on are about price.
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.
In the Eyes of the Beholder
While price is a dollar amount, value is the relative worth or desirability of a thing (product, service, idea, opportunity, etc.) to the end user or beholder.
4 Ways to Get the Most Out of Your Trade Promotion
Trade promotion is a tricky subject because of the sheer amount of money that is at risk. Often, trade promotions will be the most expensive marketing tool that is used for the year and it has the potential to either make or break a company.
3 Key Strategies for Pricing Your Product
When we first launched Ministry of Supply, we sold our Apollo shirt for a whopping $128. Our price for the shirt then moved down to $88, back up to $108 and finally landed on $98.
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.
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