Pricing by value
Posted by Vicki Moulton on October 12, 2009
When you run a small business, especially during a recession, it’s tempting to set your prices on the lower end of the spectrum to attract more customers. But that strategy is sending the wrong message about how your services should be valued.
Here’s an argument all freelancers and small business owners might want to consider, from SmallBizTrends “Best-Kept Marketing Secrets: Editor’s Picks”:
“While important, the price we ask for a product or service is far less important than you might think. Our customers want value. They are paying for solutions. They expect results and they are not put out by paying a fair price to get what they need. We entrepreneurs are often guilty of prematurely lowering our prices, perhaps out of a sense of fear or perceived competition. We need to be in the practice of adding so much value that our customer does not even blink at our price. We must learn to present our expected price with confidence, without flinching.”—Daniel Sitter, Idea Seller
