Words Matter in Pricing
Episode 60| Live with the Pricing Lady (Thursdays 15.00 CET)
Words truly matter in pricing.
Most of the time when it comes their prices people are focused on THE NUMBER. Yes, the number is important. However in my over 20 years of pricing experience, words matter too. Wait that's not quite right...they matter enormously. (see episode 37 What You Say Affects What Customers Are Willing to Pay)
The focus on the number creates a bit of tunnel vision. It's like being so focused on your destination you don't pay attention to how you're getting there. We all know that's risky even dangerous.
In Pricing quite often the words matter more than the price itself. It's not just that you need to use the right words, you want to make sure you don't use the wrong ones.
That's why you need to be selective and deliberate about the language you use. Use the wrong word(s) and price looks overinflated, unfair, outrageous, it can even make it look too small (which puts quality into question). Most of this is going on at a subconscious level. But that doesn't make it any less important.
In this episode of Live with the Pricing Lady I shared some very specific examples of just how much words do matter when it comes to your pricing. Next time you're putting a price out there you can optimize the price by choosing your words carefully.
I'm thrilled to see that this is the 60th episode (holy cow) of Live with the Pricing Lady. I can hardly believe it. Here's what you'll find in the episode:
- 0:30 What's today's topic
- 1:41 Two areas that words matter
- 2:21 Cost doesn't equal price
- 4:40 What happens when I call it cost
- 5:37 Misperceptions have consequences
- 8:00 Save versus profit
- 12:40 Choose your words carefully
Next week join me for the 5 Steps to Pricing Success webinar. Click here for details and to register.
PS: Want to get more great pricing content? Join my FB group.
PPS: Need help with your pricing but not sure if/how I can help. Book a Discovery Call.
Until then Enjoy Pricing!