What Should I Charge?
Deciding how much you should charge is a vital step in the creation of your business strategy. Far too many folks just pick a number and hope for the best.
Pricing is more than just picking a number and certainly worth more than a guess. Pricing is a decision that flows from your business goals and aligns both the needs and realities of product, merchant, customer and market.
It Is More Than Just Picking a Number
It's the packaging of your offerings. It's the language that you use and the image that you build. Everything from the website you design to the product you pitch to the staff you hire needs to work together to support your price. A business without this alignment is a sea of discord that confuses customers and damages your bottom line.
It's Not a Question of Pricing High or Low
Many people think that a poor pricing strategy will lead to bankruptcy and destitution. The reality is far more ominous. Bad pricing will leave a company alive, but at levels of success far below what is possible. These afflicted corporations become veritable zombies that don't know that life could be any different.
The firms that simply guessed at their prices are left wondering why they can't engage with the right customers or manage their customers' expectations.
Understand Pricing Tactics
In my software pricing book, I've written about the concepts and ideas that you need to understand when formulating your pricing strategy. Even a basic understanding of pricing has the potential to put a business far ahead of its competition.
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