Impact Pricing
Pricing Table Topics: Jack of Diamonds – You’re Not Charging Enough
- Author: Vários
- Narrator: Vários
- Publisher: Podcast
- Duration: 0:02:28
- More information
Informações:
Synopsis
This one is the Jack of Diamonds from the Impact Pricing card deck. It's true. If you're winning them all, you're not charging enough. First, you have to believe that every buyer is different. Every buyer has a different willingness to pay. If every time you go bid on someone and you know that they have a different willingness to pay, and yet you always win, that means that most of your buyers, if not all of your buyers, were willing to pay you more. In fact, it's probably a fair assumption that every time you win a deal, you left money on the table. The buyer was probably willing to pay you a little bit more, or a lot more, than what the price was you finally settled on. What that says to me is that if we never ever lose, we're nowhere near that price point that says, Hey, we're losing the right number. So, once again, if you were to raise your price by 1% that has a 10% impact on profitability, potentially, and probably zero impact on sales because you're winning everything already. And even if you lost a