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Some common mistakes businesses make when pricing their products or services include not understanding their ideal client and their spending power, not marketing to the right audience, not offering flexible payment plans, and treating pricing as a sales issue rather than a marketing issue. It's important to remember that a sale isn't the end of a conversation, but the beginning of a relationship.
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Understand your ideal client and their spending power, Dill, writes. A costly product or service can be totally affordable as long as it's marketed to the right audience. Payment plans that allow paying in installments is also a good idea. "Pricing is largely a marketing issue, not a sales issue. Marketing creates awareness. Sales brings clients from awareness into a business relationship. A sale isn't the end of a conversation. It's the beginning of a relationship," she says.
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Take the most advantageous pricing approach to increase profitability of your organization. Use our Pricing Strategies presentation to outline factors...
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