

Top Ten (or so) Pricing Principles
14 snips Oct 11, 2024
Dive into the transformative world of pricing strategies! Discover why focusing on value rather than cost is key to boosting profitability. Learn how effective communication and pricing options can elevate client relationships. The importance of viewing pricing as a creative process is highlighted, along with avoiding common pitfalls in negotiations. Plus, understand why walking away can actually increase your pricing power, and why top companies never cap their profitability. Rethink your approach to pricing and unleash the potential of your business!
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Transformative Pricing
- Focus on guiding customer transformations, not just services, for higher prices.
- This approach prioritizes customer needs over simply fulfilling requests.
Cost-Based Pricing Pitfalls
- Use costs as a pricing floor, not a ceiling, to avoid limiting profitability.
- Leading companies don't restrict their income potential.
Pricing Options vs. Ranges
- Offer distinct pricing options instead of ranges to empower customers.
- Ranges create confusion, with customers aiming low and providers aiming high.