How to Know When Your Prices Are Correct
Manage episode 355595322 series 3349747
Getting the right price is so infuriatingly difficult.
And the bad news is… your current prices are most likely WRONG!
People always ask me “So, how do I know when my prices are right?”
There is a really simple answer to this – you can’t.
(Well, that’s a really short podcast episode…)
Look, you are never going to know if your price is correct because every client is willing to pay a different price. We aren’t mind readers – we don’t know what their maximum budget is (and it’s not like we can just ask them).
But the thing is, the fact your prices are never ‘correct’ can actually be a good thing.
And there are plenty of techniques that you can use to make sure are getting as close as possible to that maximum price.
In today’s episode you will learn:
✅ The 7 essential factors to consider when coming up with your price
✅ Why there is no such thing as a market price
✅ How to alter the perception of value so clients are willing to spend more
✅ 5 top strategies for getting the highest price possible
You will never know what the right price is because the right price simply does not exist. People value things differently and supply and demand are constantly changing – so your prices need to constantly change as well.