Posts Tagged ‘pricing strategies’
You’ve got the brains, I’ve got the tools: let’s make lots of money 🤑 (3/5)
(Here’s hoping you read that with the Pet Shop Boys tune in your head) Businesses have to make money. But not for the sake of making money. It’s money that makes a business survive, grow, and develop. The article we are referencing lists two money-related benefits you must offer: Other benefits can’t happen without these…
Read MoreWhy it’s all about the benefits: features work, benefits sell ❗️(1/5)
Nobody has ever bought a Coca-Cola because it is carbonated, dark, sweet, liquid, made from a mix of flavors, has a red and white logo, or is sold in over 200 countries. People buy Coca-Cola because it is refreshing, tasty, and has a popular or nostalgic appeal. People buy Coca-Cola because of its benefits. And…
Read MoreMaster the money game: How do you make money? How do you spend it? (5/6) 🤑
Investor pitches need financial information, and so does your business plan. The simple question: “Can I afford it?” has to be a part of every decision you make. There’s more to this question than how much money you have. It’s about how your money behaves. Work with an expert, or do it yourself but make…
Read MoreThe 5 best ways to alienate your clients
Learn from your mistakes, examine your failures, and begin with your blunders. We all know the importance of doing things incorrectly, as a way to learn to do them correctly. Thomas Edison is credited with saying: “I didn’t fail. I just found 2,000 ways not to make a lightbulb”. Let’s embrace the value of finding…
Read MoreWhich piece of the pie are you?
Your client’s desire to buy from you hopefully knows no bounds. But the thing that does have limits is budget. Your clients can make more money, or move money around, but there is only a finite and specific amount of it available at any one time. It is a set pie. Which piece of that…
Read MoreThe problem with offering discounts
Discounts and low prices are not the same things. We all know the problem with competing on price, and discounts mean the opposite: the price is higher than desired, so a discount will allow the client to make the purchase. In which case, discounts are a safe negotiation tactic, right? Wrong. Let’s take a closer…
Read MoreIt’s All About Service
It has finally happened: it is 2020 and your business advantage is all about service. Back in 2018, I spoke at Jim Moran Institute Small Business Leadership Conference. My talk was a workshop to focus attention on how customers buy, rather than how businesses sell. The theme that year was “It’s all about the customer”.…
Read MoreService vs Price: Who Wins?
Where should a business strategy focus to win clients? Does better service outweigh a higher price? Or are most buying decisions ultimately a battle between pricing options? Most business owners and leaders have wondered this at some point or another; often after having lost a deal to a cheaper competitor. Slashing prices seems like such…
Read MoreThe Problem with Competing On Price
The low price point, the discount, the “save money here”… charging less can be an appealing strategy to win a quick sale or big deal. The problem is that it is a short term fix with no long term tie-in. Below are 4 “Why Not”s and 1 “Okay Maybe” for competing on price. It Allows…
Read MoreWhat is a Budget Competitor
When making buying decisions, clients assign budgets to their needs. In a B2B environment, a budget is often assigned before the sales process begins. What the budget tells At any moment in time, a budget is finite. A buyer determines how much, out of the available spend, can go towards solving the problems of the…
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