The best way to price is to involve the client in the pricing process. If your business involves face-to-face (or virtual) meetings with a customer, then you will want to make sure the customer is involved in formulating the price.
A powerful way to do that is using a software-based system. When you do this, you get three big benefits:
- Transparency in your pricing creates credibility and trust, and therefore much easier acceptance of the price.
- If the price arrived at by the system is too high, you can work with the customer to change the package and price interactively until they are satisfied and say, “Yes.” This approach will ensure more people buying more from you (and at higher prices).
- When the customer is in control of the pricing process, price psychology teaches us that customers simply buy more.
Our pricing consultants at Surplus Pricing, can equip your business with such a software solution. This solution can be adapted for many different industries and, if appropriate for your business, we can set up your own online pricing platform for you. Here are some of the benefits you will get:
Tailored for you – we can set it up to reflect your branding and your preferred choice of words.
Use the platform with your customers – involving the customer in the pricing process means they will understand the value and buy more.
Value-based pricing – quote a value-based fixed price based on the customer’s exact circumstances, needs and wants. This process will identify the maximum amount that a client is willing to pay and therefore maximise your profit.
Behaviour rewards – a powerful process for dealing with those situations where the client can’t afford your price – an exchange for mutually agreed collaboration efforts and payment terms.
Optional extras – a systematic way of up-selling and cross-selling will increase the amount of money your clients spend with you.
Payment plan – a powerful feature where you can separately specify your payment terms; use these creatively to get a better price.
Price psychology – the software makes extensive use of price psychology, so your customers understand the value of what you do and your price seems smaller.
Customisable prices – you can easily change the prices, the products and services you want to offer and the way your price is expressed.
Supporting resources – an appealing brochure complimenting your product and/or service offering and explaining the value of each element on the menu.
Contact us today to find out more or to book a free Profit diagnostic session.
