- January 7, 2019 -
You've seen them.
Companies who can't quite decide who they're going to be when they grow up.
Kind of like the younger brother who has an MBA and a law degree...but is currently part of an outreach program on a coffee farm in Costa Rica.
Know how you can spot 'em?
By their pricing "strategies."
They have a high end service or software platform or product.
...yet they're pricing them like they're a Bargain Basement or Surplus City.
Every day a different pricing plan is revealed.
Or another promo pops up.
Or new terms for existing customers are put into action instead of grandfathering them in. (Great way to piss off your most loyal people.)
Free trial this week. Free coaching next week.
(Does that come with free grief counseling?)
I believe they call the chaos multi-variable testing...the more variables you test at once, the more liberty you have to decide which is the WINNER since it’s impossible to know from the results.
It's all over the place. They have no confidence in their own product.
I’m all about figuring out your pricing, but offering deep discounts on one hand for new customers and increasing rates for existing customers on the other just ...that's pure suicide.
Value has a price.
And if your customers aren't paying a fair price for what you deliver, they won't pay attention.
VALUE + OUTPUT = CLIENTS
If you offer a fair price for the value you create, don’t discount...get better at expressing the value.
Decide who you are and stick to it.
There's Walmart and then there's the boutique on the outskirts of town.
People just looking for the basics will always shop at Walmart.
But folks looking for quality, something unique, something new, would never consider shopping at Walmart.
What's been happening over the past five years or so is that everybody has been pretty much following a few at the top in their respective industry in terms of marketing approach.
And what has happened is that 80% of the market is now operating under the same Walmart-type modus operandi for pricing and marketing.
But there's a shift taking place... a slow but steady “reversal” where people are sick of the same ole, same ole.
They want to know they matter, that you give a sh**.
And they're willing to pay for it as long as you demonstrate value.
Don't sell yourself short.
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