Whether you're starting business, launching product or revamping your pricing for the time, here are five questions to ask yourself to avoid resorting to guesswork 1.
You've worked hard to build your brand and value, so it would be shame to let your competitors decide how much your products or services are worth.
The key is to break down the customer journey into phases, and understand how you stack up in each phase.
This one requires firm look in the mirror, and the right feedback from the customer will help you figure out.
You might decide to give away free diagnostic to charge for services, or maybe you decide to give away integrations order to charge for data or free access to charge for transactions.
solid position and clear target customer will guide you to pay attention to the right pricing feedback.
For new products or startups, you'll need to interview your target customers to assess how much they think it's worth for you to solve their problems.
Now that you affirmed your position, sharpened your target customer, decided.
Talk to your customers and prospects to probe into what they value most least and how price factors into their decisions. 3.
Craft price that reflects 10 to 15 times return on investment for your customers, and ensure you are still in the market and can operate with healthy margin. 5.
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