How to Improve Your Confidence in Pricing
How to improve confidence in pricing is a question I get asked all the time. I had the pleasure to sit down with Scott Colenutt on his show Site Visibility to talk about this and more. Scott is a marketing expert so we were able to look at pricing through that lens.
If I were to summarize about how to improve your confidence in pricing, it would be to know where your prices come from and why they need to be what they are. That comes from having a solid thought process and doing the work. In my opinion while there may be some rules of thumb there are no short cuts if you want to feel that certainty.
Here's what we discussed:
- What role does value play in pricing and why?
- Why it's important to avoid the trap of pricing based on your competition.
- How to respond when a client or prospect says "that’s too expensive".
- Avoid using the word ‘costs’ in pitches and what to use instead.
- The importance of tiered pricing. How it can help frame your value and move your prospect towards making a decision.
- Re-framing rejections and objections may help you overcome fear during pricing discussions.
- How mindfulness can support improved confidence in pricing and negotiation
Many thanks to Scott for having me on the show. Enjoy
If you'd like to know more about how to improve confidence in pricing in your business book a call with me and let's talk.