Are You Sure You’re Charging Enough?

Where your pricing sits is an indicator of how good you are, average pricing? You’re are average, well you’re Price Increaseprobably not but that’s what people perception will be, and price perception is key.A recent story showed that the majority of people can’t tell the difference between expensive and cheap bottles of wine.

In an episode of ‘Observatory’ on the hit YouTube channel ‘Vox’, 100 people tasted three bottles of wine priced at $8, $14 and $43 respectively.After a series of questions, tasters rated the least expensive and the most expensive exactly the same. Which begs the question, what’s the point in buying expensive wine when, taste-wise, you’re likely to get a similar experience to cheaper alternatives?

In all honesty, it comes down to (and always will come down to) who you’re selling to. Your ‘market’, and their perception of what quality is. Because, naturally, peak prices denote quality to most people, and there is a market that will always buy into that; who will buy into the status that comes with buying expensive, no matter what the product.

So where does your pricing sit and make sure when you’re comparing yourself to the market place, you’re comparing apples with apples.

By Alan Adams

About 

As an award-winning business coach and bestselling author, Alan S Adams has helped hundreds of businesses across the UK to move from simply surviving to positively thriving. The publication of his second book Passion To Profit: 7 Steps To Building A Kick-Ass Agency and his third book, The Beautiful Business: Secrets to Sculpting Your Ultimate Clinic, sees him focus very specifically on creative agencies and aesthetic clinic sector, sharing advice and guidance with the potential to revolutionise turnover, client retention and overall growth. Alan was also recognised by Enterprise Nation as one of the UK’s Top 50 Advisors and APCTC Coach of The Year Finalist.

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