Customers are idiots
“Not my customers. They’re fucking brilliant.You’re fucking brilliant.And I respect you.” Noel Gallagher Here’s the thing Customers are not always right. They’ll always be right on what they want (as
“Not my customers. They’re fucking brilliant.You’re fucking brilliant.And I respect you.” Noel Gallagher Here’s the thing Customers are not always right. They’ll always be right on what they want (as
Charging “competitive” prices. Approaching the segment you serve with “what the market (competitors) charge” gets you to be compared EXACTLY on what they do. And my guess is you deff
That’s the usual approach price-driven prospects (especially purchasing, procurement —or the accountant) will take on you to lower your price. And it’s fine. It’s their job to do that. And
When developing and designing your offerings (offering/product ladders, too), take your pricing in orders of magnitude, related to the value. If you have something for 100, how would this turn
If you want to be more accommodating to your customers budgets, you can do so. In a profitable way. You can build offering ladders (a game-changing concept shared by Jonathan
Even when you hear me say (over and over) that your price has nothing to do with your customer’s budget, you can always find a workaround. If their budget is
That doesn’t define that you’re supposed to charge as them. The thing that makes it different is not the tools used, but how you use them, and the perspective you
“Price is the representation of your promise.”Ron Baker Just that. What does your price convey to your market?
“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
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
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
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,
Following vanity metrics kills innovation. If you’re following revenue as your key metric, you might be on a sketchy path. This might be obvious: higher margins would let you get
Yesterday’s message was about revenue will kill your business. That is, if you’re only looking for it as the metric to follow (revenue = vanity metric). Here’s the thing Revenue
Wait, WHAT?! In the long term, revenue can (and will) kill your business. And this is not about the lack of revenue, but of your revenue stream. When left unchecked,
All prices being equal, why would they choose YOU? If everything is average, you offer something average, for the average price… it should do the work, right? Unless… Your customers
A rate is not a price —even when it kinda feels like it. For it to be payable, you need to multiply it by another variable. Might be hours, minutes,
“Hell, no!” That’s the visceral, automatic reaction I get when hearing “You need to price based on your competitors’ prices”. While it sounds logical, the market can be (usually is)
When you’re going into the market and set yourself with what the market pays/charges/”accept”, you’re only adding to the noise. It gives your prospect one more option to choose from.
Taking more time to think over things and THEN make a decision is just stalling. Sometimes you have all the facts right on your face —yet you close your eyes