Establishing a Competitive Pricing Strategy
Are you pricing to the 10% of customers that are never happy? You tend to hear the 10% crowd loud and clear when they complain, but forget that the other 90% are happy.
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Are you pricing to the 10% of customers that are never happy? You tend to hear the 10% crowd loud and clear when they complain, but forget that the other 90% are happy.
All your customers don’t buy for the same reasons. If you group them all together, you end up thinking the main issue is price. It’s about price and value.
The more you understand your customers the easier it will be to learn their wants, needs: from their perspective of the world.
Many new businesses focus on determining their market. It is better to drill down in the marketplace and discover the specific groups of customers based on their needs and frustrations.
A business growth strategy that is focused on a particular customer segment is the opposite of the ‘one size fits all’ strategy. It’s important to learn how to define each segment.
When business owners analyze customer service problems, they often uncover opportunities to improve customer & employee satisfaction and increase profits.
Technology and online advertising has forever changed the small business marketing world. Learn why the ‘old ways’ no longer make sense today.
If you are a struggling “product” based business, the solution may be in the service area. If you are a struggling “service” based business, you might consider packaging up your service as products.
But you can learn from real stories about business owners’ challenges and breakthroughs.
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