| |
| |
|
Marketing Resource Center |
|
|
|
Dont Use Yourself as Your Pricing Yardstick
"I wouldn't pay more than what I charge now." If you are not a member of your target market, toss this thought about your own preferences out the window this very minute. What you consider a reasonable price has nothing to do with how they spend money. Even if you are a member of the market you are selling to, it's a fallacy to assume that everyone in that group feels as you do. Chances are, some feel that your current rates are more than they want to pay, some feel you're charging just about right and others feel you're a real steal. You probably don't need to sell to all three of those categories and can do well by aiming at those who'd respect you more if you charged more. The belief that she couldn't charge more than she herself would pay was a huge barrier for a friend of mine who was a photographer. She had to do a lot of talking to herself about her customers' enthusiasm for her work, her strengths as a photographer and the fact that the few colleagues charging more in her town weren't any better at their work than she was. She also had to steel herself against customers trying to bargain with her. She reminded herself that when she held firm on her fees, most customers did pay what they'd just objected to. Some people bargain mainly as a habit or a game. Additionally, she joined a mastermind group of other photographers and picked up a few pointers on subtle ways to increase the average amount a customer spent with her. For instance, photographers offering frames in different sizes along with enlargements of family portraits always sold the most of the next to largest size on display. By adding a larger size frame to those hanging on the wall of her studio, she sold more of the next-to-largest size, previously the largest. Create a solid difference between yourself and competitors to feel more confident about raising your rates. To separate yourself from colleagues, you can emphasize selectivity (you accept only a certain level or kind of client), specialization (you possess more experience and expert knowledge on one aspect of your industry), results (your superiority consists of a spectacular success rate that you can document) or concrete benefits of your work (results that your colleagues also produce but never explicitly point to). Pricing is a psychological phenomenon primarily, and the road to higher profits begins with getting your own head straight about what's reasonable to charge. Marcia Yudkin is head mentor for MarketingforMore.com and the author of 6 Steps to Free Publicity and 10 other books. As an author, marketing consultant and coach, she has spent 22 years successfully turning words into money. By going to http://www.marketingformore.com/survey.htm , you can download a free report, "Charge More & Get It," that discusses five common self-sabotaging beliefs that stand in the way of higher earnings.
MORE RESOURCES:
Marketing - Google News |
|
|
|
RELATED ARTICLES
How to Give Your Biz a Boost with a Summer Marketing Makeover Are you on track for hitting all your business goals for the year? A quick check-up of your promotional efforts can reveal "week spots" and help identify what needs tweaking to give your business a healthy boost in the next few months. Here are five key areas to focus on with your mid-year marketing makeover. Want To Be A Stronger Marketer? Work Your Marketing Muscles! You want to be more flexible? You have to stretch your muscles. Want to be physically stronger? You have to find a way to workout and build your muscles. After The Mailing Is Done, What Happens Next? If you're doing any sort of marketing effort, whether it's getting news coverage or sending a postcard, you must be prepared for what happens next. If you're sending postcards promoting your business, and you have people working for you, tell them that you sent the card. Growing Your Brand Assets Okay. Raise your hand if you think brand management is just for BIG companies (like Target, McDonalds or Ford. Receiving a Brochure Printing Quote Brochures are a great way to get your message across. While having a brochure can be extremely useful, it is sometimes hard to know whether it is affordable. Natural Marketing for Full Business Success Is your mind muddy on marketing? Do you wake up each day and say, "I get to share myself and my great message with others" or do you say, " I have to market, or I will fail."Natural marketing refers to the action you take to get the word out about your service and product that rings true to your heart. The Magic of Keep-in-Touch Marketing Yesterday I received a phone call from an acquaintance that I've met once or twice but haven't seen in over a year. She wanted to let me know that she was referring me to a client of hers who needed help with his Web site copy. Are You Overlooking Your Hidden Profit Centers? There are other names given to "Back-End Selling". You may think of it as follow through, or maybe VALUE added. How to Write Irresistible Promotional Pieces that Attract More and Better Clients Whether you're creating a sales letter, a brochure, a newsletter, or any other business promotional piece, you need to write in a way that not only explains your product or service, but that also compels your prospects to contact you. A well-written promotional piece entices people to seek out more information, whether it be via a phone call, an e-mail, or an in-person visit. Networking Events - Lose the Fear and Gain the Benefits "Kevin, are you saying I need to go to Networking events? I hope not because I hate them."No, of course you don't have to go to them. The Marketing Secret Every Child Knows Little Kids Ask Until They Get What They Want.Mom, Mom, Mom, Mom, can I have an ice cream? Can I, Can I, Can I, Can I? Please, Please, Please, Please. Promote your Business and Products through Submitting Articles to Top Web Sites Articles submitted to online publishers bring your site new visitors and increase your ezine subscribers. You can also get these benefits by submitting your articles to top Web sites that not only promote your products, but also your services. A Forgotten Marketing Tool - The Postcard The postcard can be a very powerful marketing tool. Many of our customers and/or students use them in their business. Standards for Dry Washing and Pressure Washing in Mobile Car Care The industry standard for mobile washing is completing the car and removing the dirt so it is clean as promised to the customer. Some would say this is not a standard but rather the minimum required. How Prince Connects With His Target Market! While Internet legend (and young pup) Frank Kern would have you believe that I'm so old I should be confined to a wheelchair, I'm still on the good side of 100! And I can stil enjoy a good concert from time to time. My daughter - Rachel, my wife and I had the good fortune to score some last-minute tickets to the recent Prince concert here in Atlanta. B2B Marketing Tips - Create an Interactive Online Experience for Clients Business to business communications on the web are as stale as a piece of week old toast.As a marketing director you want to give your company the biggest bang for it's marketing buck. 3 Simple Selling Tactics The following 3 simple selling tactics produce sales by responding to the way customers normally think and behave. They work for any business - regardless of what you sell, how you sell or where you sell it. The Real Marketing Genius I spend a lot of my time reading books and listening to tapes about business and marketing. I guess that's understandable. Whats In It For Me? Sometimes, one of the most difficult things to teach beginning sales professionals is the difference between features and benefits. All too frequently, sales people list their product or service features, without articulating how those features will ultimately benefit that prospect or customer. Where Are Your Leads Coming From? Most B2B marketers spend a great deal of time analyzing the performance of their programs and initiatives. The reason is obvious: With the growing pressure on marketing to produce measurable results, it's critical that every marketing dollar is invested wisely.
|
| home | site map | Advertising Articles |
| © 2006 |
Comment by George C. Leef, Director of Research