Pricing

Price to Succeed!

Instituting value-based pricing over other common methods, like cost-led and positioning (pricing yourself against your competition), generally has a positive impact on business profits. Why? Because most businesses tend to underestimate their own value, thereby pricing below what they are truly worth. So, making the proper price adjustments can quickly increase the profits of … [Read more...]

Your Bottom Line is Not Your Client’s Problem

The number one misconception service providers and freelancers need to shake For new business owners, pricing presents one of the earliest and greatest challenges.   For independently employed service providers, freelancers and consultants who do not sell a tangible product, the financial demands of running a business, coupled with the challenges of articulating and … [Read more...]

Maximizing Profits

Maximizing the profitability of your business starts with a well-developed, value based pricing strategy. This is done by creating, understanding and quantifying the value that your product brings to the market. While pricing is one of the four components of the marketing mix (product, promotion, place and price), it is often given the least attention yet has the most direct … [Read more...]

5 Guidelines to Raising Your Prices without Losing Customers

Stay in business long enough and you’re going to have to deal with raising your prices at some time or another. After all, if you don’t, your profits will be eaten up by your increased costs, which means that you’ll be making less even though your bills are likely higher than ever. While some small business owners seem to have no problem raising rates for their goods and … [Read more...]

Why Discount Pricing Does Not Work

A common thought among most business owners is that if you want to increase sales volume and increase profits, you should lower your price or offer discounts. That type of thinking and strategy could not be further from the truth. While sales volume could occasionally increase with discounting, it very rarely leads to increased profits. More times than not, it will … [Read more...]