We (including myself in this) can get really up in our heads about pricing. “Is $X too much? Will they think I’m too expensive? What should I charge?” The answer is simple but not easy. Whatever you want to charge for your work, you can charge. Pick any number and charge it. Some folks will…
Over the last week, we’ve talked about how we have to price the customer, not the project. We’ve also looked at how letting the customer make trade-offs can help us close more deals and make more money. Today, we will talk about how charging more money helps us win better clients and provide us with…
On Thursday we talked about what your work is worth. Though we want our work to have some intrinsic value, the truth is that the only one who can tell us the value of our work is the client. The same work could be worth very little to one client, or a whole lot to…
I’m in an agency owner’s slack channel where it’s common to ask questions about how to improve and grow businesses. I enjoy popping in every few days and joining in the conversation! Last week, one question stopped me in my tracks. This agency owner asked: “If anyone is willing to share, I’d like to know…
A market segmentation process is fundamental to develop your sales potential as an agency and service business. The benefits are not only financial.
A quick guide to value based pricing that will teach you what value-based pricing is, if you should use it, and how. Learn the pros and cons of a value-based pricing strategy.
Putting ‘Good, Better, Best’ Pricing into Action How much more profitable could your business be if you could sell your services at higher prices? The answer is way more profitable, right? Tiered pricing could be the answer to this conundrum. The strategy is successful for many reasons. It’s a great way to raise prices without…
Ambient risks have skyrocketed. Economic, social, and public health risks are massively higher than they were last year. This includes the risk of hiring a professional services firm. People hire these experts to reduce their risk of negative outcomes. For example: The money I spend hiring these experts reduces my risk of adverse outcomes and…
This week we’ve been talking about the role risk plays in convincing folks to hire an expert firm. When risks are high (like they are right now), it undermines our ability to give the prospect the certainty that they are looking for, so it might help us to narrow our offering so that we can…
Earlier this week, I talked about the pros and cons of retainer pricing, and some folks responded, asking, “So if I’m not doing retainers, how should I be pricing?” What is value pricing? When we solve a problem for a client, it creates value in their company. We either help them to sell more, spend…