Coaching Solutions Coaching Services Assessments Products/Programs Resources
 
Click here to experience one of our assessments – FREE!

FREE Assessment
Contact Me For a FREE Coaching Session

Get Engaged – At Work and In Life!

Price - Sell On Benefits, Not On Price

Make sure you make it clear how you are different and why that matters to the customer.  Sell the benefits! Why People Buy Your Product or Service.

Setting the price of your product and services is always tricky.  First research what your competitors charge. But you do not necessarily need to charge less.  Sometimes charging a higher price creates in the mind of the customer a perception of higher quality, especially if the remainder of the presentation is consistent with high quality. 

You may need to do trials of various price points to see what works.  These can be limited in nature and focused on particular audiences, without tipping off your entire customer base. 

Some websites use auctions to allow the customers to set the prices.  Different customers have different perceived values for the services. No use setting a low price while there are some who would be willing to pay more, based upon their circumstances.

One strategy that may work for your business it to offer specials at very low prices.  Instead of paying gobs of money on promotion, you may be able to convert prospects who are on the edge, but not quite yet ready to buy, into customers.  If you can nudge them into ordering from you, they may make buying from you a part of their regular routine.  You can usually afford to do so, because your cost of the product is usually well below your regular selling price.  Anything above your cost of goods sold goes right to your bottom line. 

But the benefit does not stop there.  If you have additional products, you have more opportunities to sell to them again later.  For example, prior to 2000, Reel.com's virtual giveaway of the videotape "Titanic" at $9.95 is a perfect business-building strategy.  Reel.com converted 300,000 online users into buyers, and they got those people in their database, with a chance to upsell them into more expensive products.