Pricing Power: How Small Changes Can Have Big Impacts

As CEOs & Entrepreneurs, we all know that there are a countless number of levers that one can pull to grow revenue or profitability, all of which will have varying degrees of impact. Increasing prices is one such lever, however it is somewhat unique. In this audio blog, I explain why.

I argue that in certain circumstances, raising the prices that you charge to existing customers is one of the fastest, most effective, and “lowest friction” ways to unlock a nascent revenue and profitability opportunity that may reside within the base of customers that you already possess.

It isn’t the right strategy for all companies, but it almost certainly is for some. If you haven’t revisited your pricing in 1-2+ years, then there’s at least a possibility that incremental revenue and profitability are being left on the table.

Though this Audio Blog does touch specifically on software companies at times, it's important to note that the insights contained within can be applicable to substantially any business that engages in repeat sales with existing customers, be it within a subscription revenue model or not.

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