Overview

Pricing is the most important of the four Ps of Marketing (Place, Product, Promotion and Pricing).  It transmits the most important message - What you think your "stuff" is worth!

This is a far louder message than advertising or any other form of promotion!  Consequently, more resource should be devoted to Pricing than to any of the other three, not less.  Downplay the importance of pricing or, heaven forbid, ignore it altogether and you're on the path to oblivion.

Price is the only tool available to you to capture your share of the value your efforts create for your clients, to get paid what you're worth.  In your marketing strategy, Price needs to be aligned with Place, Product and Promotion in order to create a viable value proposition.

It's vital that your firm or business has a pricing policy – a pricing strategy – and a pricing champion.  You need the skill, discipline and culture to put as much creativity into your pricing as you are able to put into your product design and your marketing materials.

If you think it's as easy as fixing a 'fair' price, then can I ask who decides what is fair?  It must only be you who is in control of your pricing!  Never allow competitors to determine your prices.  They have no interest in your long term survival.  When dealing with professional buyers, you'll need professional Pricers on your side.

Are Your Clients Really Price-Sensitive?

Do your clients buy on just price?  Will they shop around, trying to drive the price down by getting one service provider to undercut their competitors just to get the business?  Really?

If you were on the operating table, would you say, "No!  Get me the cheapest heart surgeon!"?

The truth is, your clients aren't price-sensitive at all!  But they sure are value-conscious.  Your clients only buy on price when you haven't given them any reason not to!  And value is that reason.

You see a lot of businesses advertising low prices, sales and special bargain offers.  A lot of other businesses copy them, believing that the only way they can compete is on price.  This is misguided and a route to disaster for most.  The way to compete is on value!  Offer loads of things that you are certain your ideal customers will find valuable and this will give you the edge.

If you're a business owner seeking better ways to differentiate yourself than continually reducing your prices, you've come to the right place.  How much more profitable could you be if you were presenting to the right clients and prospects what they want to buy, at compelling prices – prices that deliver enormous value for money, to both of you!

You can if you are working with David Winch!

This site introduces my material and my methods - much of it free to business owners who are committed to improving their Sales and Marketing.  You might be interested in the Pricing and Selling page, for example.  Other, more advanced resources to help you further with your marketing and selling are also available.