Copywriters Podcast

What You Didn’t Know About Charging Higher Prices, with John Williamson

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Apr 25, 2022
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INSIGHT

Raising Prices Can Boost Sales

  • Raising your prices can paradoxically increase your sales because it corrects the price to its optimal level.
  • Sales may go down, stay the same, or go up after a price increase, but profit nearly always increases.
ADVICE

Learn Financial Basics Early

  • Learn basic financial skills like reading balance sheets and interpreting profit and loss.
  • Understanding these concepts helps you optimize pricing to maximize profits effectively.
INSIGHT

Money as Emotional Risk

  • Money is primarily an emotional issue for most people, not just a financial one.
  • Emotional risk displacement addresses fears like embarrassment that price risk reversal can't solve.
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