I’ll bankrupt your business
Dumb strategy Problem creation Fake Inauthentic Waste money Have you seen businesses claiming any of these? If not, then what’s the reason to say the opposite? If you’re in business, your customers will expect (as the bare minimum) for you to… bring a smart strategy come with problem solving / solutions be the real/authentic you create value (and return money) If your messaging is about what everybody else claims, what would make you different? What is that thing that makes you stand out?…
Ed Sheeran Live: a scam
If you hear you can see Ed Sheeran playing live, next to you, and all you have to do is pay $2. What’s the first thing that comes to your mind? What if next to it, you can get a ticket to Ed Sheeran’s concert that’s 300+ euros, and sell it to you for 200? (Just to humor me, if you don’t like him, pretend you do for this one time 😁) Which one would you choose? That’s what happens to your customers when you go on the lowest possible price to “win” deals. Here’s proof: [Youtube vid 5:55 mins]…
Not giving your price
Common (and sort of intuitively ) advice: “Go, talk to your prospect/customer, talk shop, ask and discuss their budget. But don’t give them a price. That should only be shown in your proposal.” Take the other road: talk price. Early. Why? Because a price has very little to do with their budget. A budget is a prevision of what (god knows where/how) they “should” have for X thing. It might be that the client means well, but without the right expertise, it’s a self-diagnose with high odds of…
Double your price
“When something is not selling, double the price.”Rory Sutherland Having an offer “too good to be true” gets your prospects to be afraid of what you’re offering. There’s gotta be a catch. Lower prices won’t make it more attractive. In fact, they’ll deter your market. Think of it this way: We’ve been trained all of our lives to associate higher value with higher price. To appreciate more the things that cost us more, over the cheaper ones. Give it a try Choose one of your offerings and double…
Promises, promises.
“Price is the representation of your promise.”Ron Baker Just that. What does your price convey to your market?
How do you give your prices?
Do you have them all with all the details? Or do you have them as one single-price? Whatever form you do, what’s the thing you notice when negotiating/talking to your customers re: your pricing? Do you have any push back to justify anything —if at all? Hit reply and lemme know. 🙂
Simplicity
It’s not about what YOU think/see/feel is simple. It’s about what your customers think/see/feel is simple for them (or not). They don’t know the ins and outs. They don’t know better. They do know better, though, their day-to-day. They’re experts at that. A “simple” system for them might not be something that’s simple for you. Take “my old tax booking system is simple”… until they know how simple other things can be. Because simplicity —or complexity— has not everything to do with the use,…
5 rules on discounting
Giving discounts: taking a price off of something —or adding something up to your offering. But… what’s the reason (or reasons) to give a discount? Is it to give it when they ask for it? Is it to close the deal? Is it because you have no power in the negotiation? Is it because they have all the power in the negotiation? Is it because you can’t say No? Is it because they don’t have money? There can be a million reasons (or even more). And that’s fine. One thing you can ALWAYS say, and need…
Going deep on discounts
If you’re going to discount, here’s a more detailed view of yesterday’s rules: Specific.Needs to explain WHY they’re getting the discount. In exchange for something in return.Needs to say what’s being given in return for the discount. Explicit.Needs to be stated in the proposal what, how and why the discount is there. Time-bounded. It has to be in a defined timeframe.Needs to be a take it now, or leave it. Written at the end of the quote/proposal for what it is “Discounted price”.Price →…
You’ll be forced
“And remember: if you can’t differentiate yourself from your competitors, you’ll be forced to compete on price.”Jonathan Stark Just that. You can read Jonathan’s full post here.