Pricing is one of the most difficult things to get right, there are so many considerations around your own business environment including those of your competitors. In this video we look at comparative shopping around your business model, how you might position your products or services and how you increase your prices when you need to.
Watch the video for background information about Comparative Shopping, feel free to request the templates firstname.lastname@example.org. I am happy to share.
1. Understand your market position. Use the template or draw up your own to assess the way your competitors price their offer.
2. Recognise price psychology of comparing what you offer for the price. You can compare your own offers or your offer versus your competitors.
3. If you recognise the need to raise your prices, then use this checklist to plan how you will do this without alienating your current client base.
Please do share your experiences with these models in the comments below. I am building a portfolio of small business case studies and would love to include examples of what has worked well for you.
PS – If you need further help then give me a call on 07962 626604 to arrange a Skype session with me.