Tweaking Your Pricing Strategy

Let's talk about pricing. Now, I know everybody talks about the three-tiered pricing and different pricing strategies and when you usually put it put there, it's like oh, and then we're done. But what I really want to highlight and we just had a retreat and one of the members of the mastermind for the implementation retreat was talking about how they have two service offerings. It's been working really, really well, one's at $3,000, one's at $18,000. 

When we were going through what the challenges were with her business, it was completely eye-opening easy for me to see that she has no mid-tier pricing strategy. So if you can't afford $18,000 which a lot of her ideal clients couldn't, close to ideal clients couldn't but they felt like the $3,000 was not enough, so we ended up doing was going let's create a mid-tier at $12,000 with payment plans so that way they can get started, not the whole shebang, not the white glove package and service which we're also going to raising her prices anyway, but not the white glove, but one that's a mid-tier option where they can start the process. That way they really feel like they're getting to work with her first and they can always upgrade later to the higher end piece too. 

So I implore you today to start thinking about the challenges that you hear on your sales call. If you're doing an amazing down-sell to $3,000, that's wonderful but is there something that you could actually provide them with better value, better service that's not actually making them feel like they can't get what they really, really want. Is there some other offering that you could give them that would be better for you, for ROI-wise and better for them in the long run too? I just want to challenge you today to start thinking a little differently about your pricing.

Summary

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Tweaking Your Pricing Strategy

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You might be missing ways to increase your revenue and ROI easily. From this simple and easy switch - Find out how!

Tags: BUSINESS, business strategy, Investments, pricing strategy, Processes, ROI, sales

Categories: Business, Customer Service, Marketing, Pricing, Sales, Starting A Business, Strategic Decision, Systems/Processes

Hi I’m Jaime. Each and every week I bring you the top business advice from the people who know best.

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