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The Business of Authority
Are You Too Cheap To Trust?
Mar 11, 2024
Exploring the importance of pricing in business strategy, perceived value in advisory services, strategic pricing for target market positioning, relationship between positioning and monetization, optimizing pricing strategies for growth, and transitioning from implementation to strategy
35:37
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Quick takeaways
- Setting prices based on value boosts profitability and attracts clients in advisory services.
- Niche pricing and perceived value are crucial in establishing trust and engaging specific target markets.
Deep dives
The Connection Between Pricing and Positioning
Pricing plays a crucial role in positioning and marketing, where racing to the top is emphasized over racing to the bottom. Some individuals may feel uncomfortable with high profits, associating them with greed or arrogance. However, as services become more advisory, profit margins naturally increase, leading to discomfort for some who find excessive profit unsettling.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode