39 minutes | Apr 2, 2015

GBS7: Getting your pricing right

This episode is based on a question from one of our listeners; Jo and she asked: “I run a small accountancy firm, we never used to publish prices on our website, and since formation, we’ve done well. But I can’t help but think that not publishing prices is putting a lot of potential clients off. What are your thoughts? Do you think it is a good idea to be upfront and open about prices on your website? Or should you wait for clients to contact you before revealing them?” Great question! One that we’ve struggled with ourselves in the past and talk a lot about clients. We go through the pro's and cons of publishing your prices, but also talk about some of the other considerations you need to think about when setting your prices... Listen here Subscribe here Click here to Subscribe to the Gritty Business Show on iTunes  (https://itunes.apple.com/gb/podcast/the-gritty-business-show/id975991464)and listen on your phone or tablet. To find out more about subscribing or to add the show to your Android or Windows devices, please click here (http://grittybusinessshow.com/subscribe-to-podcast/).   In this episode, we covered; * Understanding what type of business you’re in will affect your pricing * Commodity products and comparative prices * Your profitability is directly linked to the prices you charge and the costs you incur * Communicating your value upfront * How it's less likely to be a pricing problem, rather than a sales problem! * Few buyers really want the cheapest prices * Pro’s and Con’s of publishing and not publishing prices * 5 different options for publishing prices; * Tiered pricing * Setting a minimum price benchmark * Providing ‘typical’ range of priced projects * Set price & commission fee model * Set price & bonus fee model * When pricing is bespoke * How pricing can help your positioning * Publishing your price is a way of filtering out people who can’t afford you or are not your target market Ideas & Tips * Establishing value before publishing prices * Setting the boundaries around pricing - helps define your customer segment more and avoid tyre kickers! * Tiered offering for type of service e.g. 24hrs, 1 week, 1 month turnaround * How will you ultimately know you’re charging the right price...more of the ‘right’ type of clients you want and your bank account!   Links mentioned in this episode Website link: Page Modo (http://www.pagemodo.com) Great for helping people desig
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