Maintain your old Siemens Hipath system

Small Business Pricing Strategies

TACTIC #1 -- Never simply slash your prices, unless you're trying to empty obsolete inventory. Instead, try repackaging your prices so they're more affordable in the short-run so more prospects can afford them. For example, rather than pricing your service for the year, "Our monthly newsletter is only $39 for the year." Instead, try "Our monthly newsletter is only $3.25 per month." If you accept credit cards, it's very easy to set up reoccurring monthly charges that are billed to your subscribers without having to intervene every month beyond the initial account set up. The upside to offering your subscription on a monthly basis is that you can now market a $3.25 headline versus a more expensive $39 headline, i.e. you're able to offer services at a more affordable rate without slashing prices.

ANOTHER EXAMPLE
Here's another example. Just last night I was on the phone with a potential marketing client. As a small business owner she's trying to get some marketing help and is on a tight budget. My standard hourly consulting fee is $225, which is not always appealing to some businesses. However, in trying to work within her budget I suggested that my services could be more affordable for her if she allowed me to help her through email instead of face-to-face or on the phone. Let's face it, when you're on the phone with a client it takes longer to accomplish what you're doing since you're not only answering their questions, but you're building a relationship and talking about unrelated topics. It's difficult not to. In fact, you should! No matter what type of consultant you are, building a successful business is not about the initial sale, it's about establishing a long-term relationship with customers.

One-off sales don't lend themselves to growing a profitable business; rather, deep customer relationships do! However, since I was able to establish a trustworthy and comfortable relationship with my prospect on the phone, she thought my marketing services through email would be a win-win. Did I slash my prices? No, instead I found a more efficient way to offer my services, whereby I could offer them in less time and therefore, my client will pay less money. This strategy could work for business coaches, fitness experts or personal chefs, when the latter prepares meals in her home rather than in a client's home.

TACTIC #2 -- Create tightly niched product or service offerings. For example, if you're operating a personal concierge service, rather than just offer errand services at $25 an hour, try prepackaging specific errands with associated lower pricing. Why? Because you can offer a more aggressive price when isolating your fee to one particular service. If your customer challenges your reduced price as compared to your higher hourly fee, your response is simply, "I'm able to offer this lower packaged price because of economies of scale. While I'm out delivering your bundles to the Post Office, I'm also delivering packages for five other customers." Ultimately, your customers will never know how many other customers you're delivering for that day; however, the key is not to simply slash your pricing because you believe that reducing your prices will bring you more business. The key is to provide consistent and professional pricing practices.

P.S...Yes, business is slow for many entrepreneurs right now; however, be cautious with your pricing methods. Don't simply slash prices; instead incorporate long-term and short-term strategies that are always complementary to each other. If you offer a product for $15 today, then again at $35 six months from now, you must have your reasons in place, otherwise you'll aggravate your customers.

Sharron Senter is a New England-based marketing consultant, speaker, writer and founder of Senter & Associates, a marketing communications firm that helps small businesses deploy low-cost marketing strategies. Sharron is well known for her free monthly emailed marketing tips, found at http://www.sharronsenter.com. She's also the cofounder of http://www.VisitingGeeks.com ? an onsite computer repair, networking and security company based north of Boston.

In The News:

Weapons inspectors visit site of Douma 'chemical attack'
Sat, 21 Apr 2018 14:20:00 +0100
Weapons inspectors have collected samples from the Syrian town of Douma, where they are investigating a suspected chemical weapons attack.

Irish PM in abortion reform bid: 'Trust women'
Sat, 21 Apr 2018 16:55:00 +0100
Ireland's Prime Minister has urged his country to vote "yes" in next month's referendum to overturn strict abortion laws in the country.

Kim Jong Un vows no more nuclear or missile tests
Fri, 20 Apr 2018 23:12:00 +0100
North Korean leader Kim Jong Un says Pyongyang has suspended its nuclear and long-range missile tests, and will shut down its atomic test site.

Grave mistake to think Kim is backing down
Sat, 21 Apr 2018 07:01:00 +0100
Against a backdrop of 2017's escalating tensions and threats of attack, North Korea's announcement that it is suspending all nuclear and missile tests seems a dramatic change of course.

'No criminal suspicion' in Avicii death - police
Sat, 21 Apr 2018 16:35:00 +0100
There is "no criminal suspicion" in the death of star DJ Avicii, according to a source in Oman's police force.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

Tips and Tricks for Legal Debt Collections

If a customer owes your local business money, it's hard... Read More

The Single Most Powerful Small Business Marketing Tool On The Planet

Let me get right to the point. The single most... Read More

How to Find A Group that Needs Speakers

How do you find groups that are in need of... Read More

Effectively Completing the Operations Plan Section of Your Business Plan

The Operations Plan is a critical component of any business... Read More

Your Practice is Only as Valuable as Your Referral Base

Many physical therapists in private practice have the appearance of... Read More

Starting an Aircraft Washing Service

To wash an airplane there are many items you will... Read More

Starting a Pressure Washing Business

Are you thinking of starting a small pressure washer business... Read More

How to Prepare for Your Start-Up Venture!

When you awoke this morning, you found yourself buzzing with... Read More

Do You Need the Help of a Virtual Assistant?

Running a business, whether large, small or in your home,... Read More

Starting a Mobile Auto Detailing Business; Dry Wash or Pressure Wash?

Many experienced auto detailing professionals who have started out using... Read More

An Example of Business Automation - eCards with pizazz

The last time I spoke and went into a bit... Read More

Small Business Support Equals Survival

Support is critical for your small business survival. You may... Read More

Outsourcing ? A Positive Approach For Small Businesses

Outsourcing is the strategic use of outside resources to perform... Read More

The Number of Pages in the UFOC in Franchising is Still Growing Today

Today required franchise disclosure documents are over 200 pages generally.... Read More

Entrepreneur to Employer

You make the decision to go into business and for... Read More

Building Marketing Momentum For Your Small Business

The success of your business depends on your ability to... Read More

Small Business Owners - They Owe You The Money Why Dont They Pay?

Doesn't it frustrate you when you've given good service, sometimes... Read More

Carwash Manual Sample Outline

Car wash businesses are unique to other businesses. In fact... Read More

Modern Clear Coats, Auto Detailers and visit to Lexus of North America

We visited Lexus USA, home of the Lexus North America... Read More

Reclaim Equipment Detailing Industry and NPDES, EPA, Storm Water Rules

It behooves every professional mobile auto detailer to stay up... Read More

Solving the Late Paying Customer Blues

Nothing can drive a business down faster than customers who... Read More

How to Successfully Avoid Becoming One of The 80% of Small Businesses That Will FAIL

It's a commonly quoted statistic: 80% of all small businesses... Read More

Top Ten Blunders Business Owners Make

In today's marketplace the words 'job security' have become an... Read More

Cleaning Grain Silos, Towers, Containers, and Combines

If you run a pressure washing company in a rural... Read More

You Are Invited

Business card size works well for invitations to special events.What... Read More