When the Price Is Too Low People Won't Believe in the Value
Send us a text Commonly businesses believe they have to set their prices low to entice customers. However more often than not it can be counterproductive to - in fact it might be what's keeping people from buying. They just don't believe they'll get the value, because the price is so darn low. That's what my guest learned and shared with us during this episode. She was advised to raise her prices and when she did her conversion rate shifted. Maybe the price was better aligned with expectation...
Commonly businesses believe they have to set their prices low to entice customers. However more often than not it can be counterproductive to - in fact it might be what's keeping people from buying. They just don't believe they'll get the value, because the price is so darn low. That's what my guest learned and shared with us during this episode.
She was advised to raise her prices and when she did her conversion rate shifted. Maybe the price was better aligned with expectations. Maybe it was that she herself believed more in the price she was asking for. Maybe it was both and more. The fact is things changed for her business for the better.
In This Episode:
In this episode, I sit down and talk with Maggie Bergin . Maggie is a brand strategist on a mission to eliminate brand vagueness. She helps businesses build a distinct, compelling brand strategy so they can deeply connect with their ideal clients. She quite candidly shares with us her own Pricing journey. The mistakes she's made and how she's been able to learn from them and continue building her business. It didn't come easy she confesses and she feels her own pricing development will continue to grow.
All of that and so much more. Enjoy!
Highlights:
- 0:00 Introduction
- 02:10 Getting to know Maggie
- 04:00 The Value clients get from Maggie
- 05:25 How she started
- 07:43 Pricing discussions at the beginning
- 11:18 Pricing mistakes
- 16:32 Are there generalizations in work
- 19:12 Wrap Up Questions
How to Reach Maggie:
Instagram: https://www.instagram.com/beunderstoodbranding/
LinkedIn: https://www.linkedin.com/in/berginmaggie/
Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.
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Reach Out, Connect or Book a Call with Janene
Get started improving your business. Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard ( www.thepricinglady.com/pricing-scorecard ). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.
Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene ( https://thepricinglady.com/contact/ )
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