Make Pin-The-Tail-On-The-Donkey Pricing A Thing of the Past

Episode 6​8 | Live with the Pricing Lady (Thursdays 15.00 CET)

​Pricing without reason.

When you’re just guessing at what price to charge it’s nearly impossible to have any sense of confidence about your price. You’ll hestiate in many aspects. Pricing without reason or guessing is what I call Pin-the-Tail-on-the-Donkey pricing.

Pin-the-Tail-on-the-Donkey was a popular party game at children’s birthday part​ies. It was a lot of fun but terribly frustrating to get it right. Your dizzy, ​pointed in the wrong direction and blind folded. Making it really difficult to do anything much less get the poor donkey his tail.

It’s also not how you want to set prices in your business. ​​For many businesses it is the reality. They simply don’t give pricing the attention it deserves and their business struggles as a result.

If you’re pricing without reason you’re in luck. ​I share with you how you can make it a thing of the past in this episode of Live with the Pricing Lady.

​Episode highlights:
  • ​0:51 In this episode​
  • 1:25 What’s Pin the Tail on the Donkey Pricing​
  • 3:18 Sign #1​
  • 4:30 Sign #2​
  • 5:37 Sign #3​
  • 8:01 Know how to​
  • 8:27 Prepare yourself​
  • 9:03 Know what’s changing
Great quotes from this episode.

“…when you’re doing pricing well in your business, it’s like having a map to get to a location.”

​”…if you have set your prices based on the things that matter to your customers, to yourbusiness, to you, then you will know why your price is what it is and you’ll feel moreconfident speaking about it.”

​”You have got to know what is changing and shifting and moving in your business.”

​Remember when it comes to pricing guessing isn’t good enough. Here’s the full transcript as well.

Enjoy!

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The 3rd Wednesday of the month we look at topics like…

JAN Where should I start with my pricing?
FEB Why profit isn't the bad word you think it is.
MAR Aligning your pricing strategy with biz goals
APR Should I offer tiers/packages for different segments?
MAY Why do I struggle to tell people what I charge?
JUN 3 simple actions when pricing objections arise

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Is it Time to Raise Prices?
And How to Do So Effectively.

Live Web Class

Raising prices isn’t as risky as you think it is.

Far too many businesses know they need to raise  prices but are afraid to do so. So they wait. And wait. And wait. Until it’s so painful they have no choice. That’s when raising prices gets riskier.

You need to know what to do and how. Find out more in this LIVE web class where we’ll look at:

  • Why people wait
  • Myths of raising prices
  • How to know when to do it
  • Tactics and strategies to do it effectively
Join me Oct 24th 17:00 CET /  11:00am EST.

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