Posted by Matthew Loop | 3 Comments
The video at the link below reminded me again why it’s important not to be the cheapest product or service provider in your market. How much you charge is directly related to the type AND quality of customer you get.
Like Yanik Silver has mentioned in a previous post, you must charge a premium price so you have a large margin to provide an extraordinary value & experience. By charging more, you can do more “high level” activities and over deliver.
There are psychological advantages to charging a premium as well.
Those that pay more for a service are generally better customers, value it more, and usually make the most of their investment. These clients are the ones that give you the best testimonials.
If you give away too much for free, others don’t value you / your service as much in the long-term.
The truth is, people are still paying top-dollar for things they want and need in this economy. Don’t be fooled by what you hear everywhere else. Those that position themselves correctly can command higher fees.
Check-out the full video interview with Yanik here.
Start to really think about strategic positioning in your local or national market and how you can provide 10x as much value for the premium price you’re going to charge.
Also, what can you do to be different and make doing business with your company fun? I’d love to hear your thoughts after brainstorming. Go ahead and leave your comment below.
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