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Will You Add? - Small Business - Your Pricing Strategies
Here are 9 super-simple tips for making callers feel taken care of over the phone... Consider holding a 5-minute training session with your staff and share these 9 tips for making sure callers feel taken care of. 1. Smile -You can actually hear a smile through the telephone. When you smile, you sound friendly, interested, and helpful. You also make the customer feel that your sole intent is to be of service and people really can tell the difference. So smile! 2. Tell the caller your name - Giving the caller your name demonstrates accountability and communicates a sincere desire to help. It also gives customers a reference should they need to call your company back. 3. Ask questions - You should ask questions for these reasons:
Of course, it’s a little more complicated than that…so let’s talk about some pricing strategies.
Cost + markup
If you make a
In 1996, my brother and sister-in-law decided to retire… leave the Chicago area. They chose to move to the Colorado desert-mountain city where I live.As a banker, I’ve heard so many excuses about why businesses fail. However, during this move, I saw at least a dozen, sound reasons that cause either failure or lost profits.Bob and Lea opened a bank account with a major local bank and wire transferred close to $200,000 from their prior bank. They were given about eight temporary checks. They were told it might take two-weeks to get new checks and they needed to buy new furniture, appliances, a home, draperies, etc. Plus, they had daily living expenses. A banker thought eight checks were enough?When Bob and Lea retired, they sold everything -- house, furniture, appliances -- a
The only good thing about having the lowest prices and trying to appeal to everyone is that you’ll fail quickly and be out of your misery.
This is a really hard concept for many business owners to come to grips with. Small business owners can really struggle with pricing. There are tons of different approaches to pricing and that in itself creates plenty of confusion. It’s been my experience that most small business owners tend to undercharge for their services and products.
The bottom line is this. People buy for emotional reasons—not price. People buy from you because you solve a problem for them—not price. Yes, for some people price is the deciding factor for purely economic reasons. But how many times have you seen someone skimp on necessary car maintenance but spend big bucks on a car stereo? People will pay ridiculous amounts of money if they perceive high value. Visit an antique shop—why would you pay tons of money for an Early American kitchen chair when you can get a brand new chair for $30?
Listen, I’ve been watching the human species for decades and I’ve come to a conclusion—we’re a really weird group. We’re gifted with a magnificent intellect, the ability to reason and approach things in a logical manner. And yet, we make our decisions based on emotion! How else can you explain someone with 350 pairs of shoes or 35 antique cars or every Barbie doll ever made? We’re just a bizarre species! Once you realize that, it makes raising your prices easier!
Of course, it’s a little more complicated than that…so let’s talk about some pricing strategies.
Cost + markup
If you make a
The fact that more and more first time telemarketers are being discouraged out of the profession is sad news for me. The reason they are being forced out of the profession is that they cannot stand the pace of change that is currently happening in the sales industry. The longer you are in telemarketing, the better chance you have of surviving. It is all about creating a great telemarketing message to get noticed!So what is a “great” telemarketing message? How many of your business leads will immediately be turned off by weak telemarketing tactics? The key to success with your opening statement is instant impact! You need to be able to grab your prospect’s attention in the first sentence, without them straight away thinking “here we go again, another boring telemarketing presentation”
The bottom line is this. People buy for emotional reasons—not price. People buy from you because you solve a problem for them—not price. Yes, for some people price is the deciding factor for purely economic reasons. But how many times have you seen someone skimp on necessary car maintenance but spend big bucks on a car stereo? People will pay ridiculous amounts of money if they perceive high value. Visit an antique shop—why would you pay tons of money for an Early American kitchen chair when you can get a brand new chair for $30?
Listen, I’ve been watching the human species for decades and I’ve come to a conclusion—we’re a really weird group. We’re gifted with a magnificent intellect, the ability to reason and approach things in a logical manner. And yet, we make our decisions based on emotion! How else can you explain someone with 350 pairs of shoes or 35 antique cars or every Barbie doll ever made? We’re just a bizarre species! Once you realize that, it makes raising your prices easier!
Of course, it’s a little more complicated than that…so let’s talk about some pricing strategies.
Cost + markup
If you make a
1. Update the pages on your website frequently. Stagnant sites are dropped by some search engines. You can even put a date counter on the page to show when it was last updated.2. Offer additional value on your website. For affiliates and partners you can place links to their sites and products and ask them to do the same for you. You can also advertise their books or videos, if these products relate to your industry and are not in competition with your own product.3. You can allow customers to opt in?to get discounts and special offers. Place a link on your site to invite customers to opt in?to get a monthly newsletter or valuable coupons.4. Add a link to your primary page with a script look Mark or Add this site to your Favorites?5. Add
Listen, I’ve been watching the human species for decades and I’ve come to a conclusion—we’re a really weird group. We’re gifted with a magnificent intellect, the ability to reason and approach things in a logical manner. And yet, we make our decisions based on emotion! How else can you explain someone with 350 pairs of shoes or 35 antique cars or every Barbie doll ever made? We’re just a bizarre species! Once you realize that, it makes raising your prices easier!
Of course, it’s a little more complicated than that…so let’s talk about some pricing strategies.
Cost + markup
If you make a
It is a well known web site marketing strategy: To attract new customers and traffic, give out something for free: e-zine, ebooks, software, services etc.But as you already know, most people don’t appreciate what they get for free because they will always suspect there must be catch.If not, why will anyone give something away for free? you get what I mean?So, I will now give you 8 web site marketing strategy and ideas on how to increase the perceived value of the freebies you give out.(1) You could tell them what the freebie is worth with a dollar amount. For example, "Subscribe to my free e-zine! A $199 value!"(2) You could add other freebies to your freebie that will increase the value. For example, "Subscribe to my free e-zine and get free ac
Listen, I’ve been watching the human species for decades and I’ve come to a conclusion—we’re a really weird group. We’re gifted with a magnificent intellect, the ability to reason and approach things in a logical manner. And yet, we make our decisions based on emotion! How else can you explain someone with 350 pairs of shoes or 35 antique cars or every Barbie doll ever made? We’re just a bizarre species! Once you realize that, it makes raising your prices easier!
Of course, it’s a little more complicated than that…so let’s talk about some pricing strategies.
Cost + markup
If you make a
I looks like the big advertisers have spoken and taken a stand on their association with unethical and socially deviant partners. One reason for this is the fact that hot topics don't easily go away these days because of the Internet. The Internet has a fantastic memory. You can't unGoogle yourself. With that said, I'd like to examine the implications of advertising practices on the Internet. There are thousands of websites engaged in fraudulent practices like phishing and spamming that have been enabled by ad networks and affiliate programs from which they are literally "paid to defraud". Over the past couple of months I investigated and tracked down the advertisers on some of these websites. When contacted, most were unaware that their ads were showing up on these sites because the ad
Of course, it’s a little more complicated than that…so let’s talk about some pricing strategies.
Cost + markup
If you make a product, you can price it by taking what it costs you to make it—materials, labor, and overhead and add on a markup percent for profit. If you deliver a service, you can price the service by taking what it cost to deliver the service—labor, overhead and add on a markup percent for profit. If the costs increase, you can raise your prices or reduce what you get for profit. That’s a very common approach to pricing. The profit markup can be very small or it can be very large based on other factors.
Competitive pricing
Survey your competitors to find out what they’re charging then charge a similar amount.
Lowest Cost Provider
“We have the lowest prices in town” is often followed by the “going out of business” sale pricing. Unless you have Wal-Mart’s wallet, systems, and bargaining power, this is a recipe for poverty.
Value Provided
Your pricing in this method is based on the value that your customer perceives you provide them. This is a popular pricing strategy. In my opinion it has a major flaw. Let’s say your beloved child has cancer. What value do you place on the doctors, nurses, therapists, etc. who provide care? All the money in the world is not enough to compensate for the value of a cure for your child. The value you perceive and the amount of money you can pay are often widely divergent. In the consulting arm of my business, my customers often tell me that the value I bring to their businesses far outweighs t
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