Pricing Is Everything

What does the price of your product or service say to potential customers? Everything! Where you price your product or service is one thing that immediately influences what people think. When you see a low price, what do you think? How about a high price? If there are two items that appear to be exactly the same, and one is twice the price of the other, what is your immediate thought? Based on your answers to these questions, I think you get my point. So, where should you set your price? Here are a few tips:

Tip #1 - Price Your Product or Service so that 20% of Your Customers Say it is Too High

Why would you do such a thing? First of all, some people will always complain about the price - no matter what. By having 20% think you are too high, you are right where you want to be. 80% of people will see you as right where you should be, and you will attract great, high quality customers.

Tip #2 - Avoid Being in the Middle

What does being in the middle tell your prospective customer? You are not the best, and you are not the low cost provider. Not a very good place to be, right?

Tip #3 - Avoid Selling on Price

Almost every sales person makes this mistake, and it's a big one. Survey after survey tells us that price is often the 5th, 6th, 7th, or even lower thing that people consider when buying something. Yet, sales people usually default to price when selling. If you want to be a great sales person, take my challenge and never sell on price.

Remember, price is everything when it comes to how people perceive your product or service. What does your price say about your product or service? Something to think about!

Happy selling!