You’re a small business owner and you’re busy wearing a million hats. And if you’re like most small business owners, you really have no idea what a pricing strategy is or why you need to have one. You’ve built a great product. You understand it has value. Now, you need to capture the value you deliver.
The short answer to why you need a pricing strategy is: you’re probably leaving massive amount of profit on the table and sending the wrong message to your customer if your pricing strategy isn’t congruent with the rest of your business.
Messing with your pricing can be very unnerving. If you have a product that sells well and you make a decent profit on it, why mess with a good thing? Because you might sell a lot more of your product at a substantially higher profit if your pricing is congruent with the rest of your marketing message.
Your competitors might have a pricing strategy and you likely don’t not even know it. They are likely silently siphoning customers away from you like a thief in the night. More importantly, they are probably making a substantial profit – at your expense.
Another area that I give your small business an upper hand in is negotiation. When dealing with a large client or even a large vendor, you can bet they have a strategy for negotiating on price. Most small businesses don’t. And by not having a negotiation strategy, you’re shooting yourself in the foot. With a bazooka. The good news is I can likely help you with this very quickly.
I’m able to deal with all your pricing needs from strategy down to tactics, pricing psychology, pricing structures, segmentation, creative pricing, value analysis, pricing processes, new product pricing and negotiations.
At the end of the day, pricing is what decides if your business strategy meets reality.
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