Many young businesses feel that competing on price is the best or even the only way to go. It’s typically the “go to” strategy early on. Often when a business is struggling they resort to lowering prices to solve the problem. But for small businesses being a low price leader is rarely a strategy that …
3 Reasons Competing on Price Alone is Risky for Your Small Business Read More »
Dirty, disgusting discounting habits. They are killing your business and it needs to stop…now. Have you ever granted a discount because: it was easy, you felt ashamed of your prices, guilty to charge that much, anxious or afraid to ask for it, too lazy to stand up for your value, to be “fair”, or to prevent …
5 Tips to Avoid The Nasty Discounting Habits That Kill Your Profits Read More »
Price and brand are intricately connected. Both topics drive perceptions of value and customer behavior. We’ve all encountered brands that we thought, “No way would I ever pay that.” Thinking that those who pay that much for such a thing are crazy. Then there are the brands we love, for which we will do we …
Knowing when and how to raise your prices makes a huge difference in your profitability. There are many signs that indicate it’s time and reasons to do so. As with anything the better prepared you are, the better choices you can make. Many clients ask me the question “How do I know when to change …
10 Signs It’s Time to Change, Even Raise Your Prices Read More »
The adversity of your thinking is something you will need to overcome at times. When it comes to your business (and pricing and nearly all things in life) you’ll be faced with challenges. Some will exist due to your own thinking. Change your thinking and change the quality of your mind. Often being able to …
Soar to new heights: Overcome the adversity of your thinking. Read More »
Do you know how what you say impacts customer willingness to pay? Clarity of message is key in all things, and pricing is no exception. A customer’s willingness to pay for something can be fickle. That’s one reason why an important part of pricing is to consider the message. The message your prices deliver. What …
How the Clarity of Message Impacts Willingness to Pay Read More »
We have a joke amongst pricing professionals that when pricing goes well, every one (all the departments like sales, finance and marketing) claims responsibility. When it’s not, they’re pointing fingers of accusation at one another. What’s also interesting is how often people leave pricing out of the discussion until the very last minute. Whether in …
3 Reasons to Look at Pricing Earlier Rather than Later Read More »
When you know thy customer it’s easier to know the price. The number one mistake businesses make with their pricing is: …not taking the time to understand the customer. This usually comes in two forms, they are trying to target “anyone” or they are moving forward with untested assumptions about customers. This makes it very …
Pricing behavior is fascinating and it is influenced by many things – like geography, culture, upbringing, industry etc. We can learn so much by simply observing the world around us. Many years ago I was in Egypt at one of the markets and there was a stall with at least a dozen signs that read …
Impact of Geography and Culture on Pricing Behavior Read More »
Raise profits (or even maintain)…that’s an important part of growing your business. To do that you’ve got to understand the things that influence your profits and know how best to leverage them. Your goal isn’t to raise profits just because you can. It’s to do so in order to continue to be there for your …
Raise Profits in Your Business with Better Pricing Read More »
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