I help entrepreneurs leapfrog over the typical potholes that derail most small businesses with inspiration, motivation, education, and support across a wide range of business topics drawn from over a decade of running my own business, teaching entrepreneurship for the City of New York, and coaching and consulting privately with dozens of women and minority small business owners. Honestly, why go it alone when help is an email away?
What's Your Point(s)?
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Something that I think it's hard for a lot of entrepreneurs to understand is that you need to create price points that lead your customers through ever deepening value. While customers can enter at any point, many will enter at one of the lower tiers and then move upward the more and more value they derive from your products or services. All too often, however, I find business owners thinking singularly about pricing something they're selling rather than more strategically about how and where that new product or service fits into the universe of their offers. So, I thought I'd map out what a fairly typical customer value journey might look like in terms of offers and related pricing. You might also think of this as a pyramid where the higher you go, the steeper the price and the greater the value and impact of your offers to your audience. Here's what that might look like for service and product lines: Crafting price points that support your customer journeys and that work to attract new customers into your business is a complex aspect of pricing strategy that can be tough to get right. Often, successful entrepreneurs stumble upon the 'formula' that works best for their business. But, I don't want that for you and you shouldn't either. While there's certainly an aspect of pricing that involves trial and error, I want you to be deliberate about your pricing and have a sure-fire strategy for finding the right price mix that supports both you and your customers. Reach out to me if you'd like to learn more about how I can help you. 🍾 On a side note, this week marks three years (I can't believe it!) of sending out these emails nearly every Thursday. For however long you've been here, I thank you for continuing to support my efforts to inspire, motivate, and educate this community. 🥂 Until next time, PS - If you missed it, last week I was Mapping the Universe of customer journeys and value. Your success is our strategy! No longer want to receive my newsletter but don't want to miss my special offers and announcements? Click here. |
Easily Said & Done
Why grow your business alone?
I help entrepreneurs leapfrog over the typical potholes that derail most small businesses with inspiration, motivation, education, and support across a wide range of business topics drawn from over a decade of running my own business, teaching entrepreneurship for the City of New York, and coaching and consulting privately with dozens of women and minority small business owners. Honestly, why go it alone when help is an email away?
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