Make Pin-The-Tail-On-The-Donkey Pricing A Thing of the Past
Episode 68 | Live with the Pricing Lady (Thursdays 15.00 CET)
Pricing without reason.
When you're just guessing at what price to charge it's nearly impossible to have any sense of confidence about your price. You'll hestiate in many aspects. Pricing without reason or guessing is what I call Pin-the-Tail-on-the-Donkey pricing.
Pin-the-Tail-on-the-Donkey was a popular party game at children's birthday parties. It was a lot of fun but terribly frustrating to get it right. Your dizzy, pointed in the wrong direction and blind folded. Making it really difficult to do anything much less get the poor donkey his tail.
It's also not how you want to set prices in your business. For many businesses it is the reality. They simply don't give pricing the attention it deserves and their business struggles as a result.
If you're pricing without reason you're in luck. I share with you how you can make it a thing of the past in this episode of Live with the Pricing Lady.
- 0:51 In this episode
- 1:25 What's Pin the Tail on the Donkey Pricing
- 3:18 Sign #1
- 4:30 Sign #2
- 5:37 Sign #3
- 8:01 Know how to
- 8:27 Prepare yourself
- 9:03 Know what's changing
Great quotes from this episode.
"...when you're doing pricing well in your business, it's like having a map to get to a location."
"...if you have set your prices based on the things that matter to your customers, to your
business, to you, then you will know why your price is what it is and you'll feel more
confident speaking about it."
"You have got to know what is changing and shifting and moving in your business."
Remember when it comes to pricing guessing isn't good enough. Here's the full transcript as well.