The Psychology of Pricing Ideas & Advice is the first in a three-part series on pricing. It will be followed by Value Pricing and Pricing Your Premium Offerings.
Welcome to the Principles of Pricing Ideas and Advice.
I’m really looking forward to this because this is the first foundational webcast in a series that I’m doing on pricing so the principles of pricing ideas and advice.
Here’s the agenda. I’ll begin today by talking about the impact of pricing strategy then I’ll look at different pricing approaches that you might take, there are three main ones. I’ll look at three main buyer types once we’ve laid those foundations then I’ll get into the five key principles of pricing that I want to impart to you today and then I’ll take your questions and answers. Some of these five principles we’ll go into rather deeply, and some of them we’ll go into quite extensively through some exercise that you can do for yourself and your firm in the subsequent webcast.
Even if you’ve just signed up for this webcast, you should be able to take a lot of information, a lot of practical information away today, to be able to apply it in your business and start making more money almost immediately. In fact, when we get into the agenda and we look at the impact of pricing and talking about making more money. It’s pricing theories will tell you that by just improving or advancing your pricing strategy is the easiest way to improve your profit. Let me just throw this chart up here. You can try to decipher it while I’m speaking these new few points.
Pricing theory is right with all kinds … Pricing practices I should say, pricing practices within creative firms, it’s been my recent experience right all kinds of inconsistencies, misunderstanding and mistakes about what constitute certain elements of the pricing. I’ll give you an example. I’ll often hear, it’s not the norm but every once in a while I’ll hear a firm say yeah, we employ value pricing.
When I look into it almost the vast majority, almost all of the time, somebody claims their employing value pricing, they’re not, they’re playing a variation of it but we’ll explore that in a little bit more detail.
In this webcast you will learn:
- The three ways you deliver value to your clients
- The three pricing strategies you have to choose from
- What 30 years of behavioral economics has taught us about options, anchoring & risk
- Why expensive sometimes looks cheap and cheap sometimes looks expensive
- How to increase profit 50% through a simple pricing maneuver