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Customer Driven Pricing - Your Pricing Strategy Starts with Knowing Your Customer

When companies set their pricing back in the day, the traditional method was to use cost-plus pricing. This approach takes all the costs associated with developing and delivering the product, and then adds the desired margin to set the price.

But in reality, what gets people to buy is perceived value, not the cost of materials. With the ease of obtaining customer data through the internet today, more companies are setting their prices the right way by using customer-driven pricing.

Why Customer-Driven Pricing Works

Once the customer understands the unique value of a product, what do they expect to pay for it? What are they willing to pay for it? Customer-driven pricing works because it puts the emphasis on the customer, not the product. You set your price according to their expectations.

Customer-driven pricing works because it reflects actual market conditions. It takes into consideration not only what the individual customer will pay but other market factors like competitor...

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7 Unique Ways to Find New Clients for Your Business

The hunt for new clients never ends. You need to always be out there generating leads, even when you have plenty of work to keep you busy. It takes time to nurture relationships and you never know when you’ll bump into a lucrative business opportunity. Here are 7 unique methods for finding new clients.

Ask for Referrals

The best business comes from referrals. A happy client tells others about you and the new person already knows the unique value you offer. We usually wait for referrals to naturally occur, but it’s even better to ask for them proactively. Make it a regular part of your business operations. Whenever you receive positive feedback from a client, ask if there’s anyone they know who could use the help too.

Join Social Media Groups

Social media is essential for finding new clients, but are you active in groups? There are groups dedicated to every single topic of interest on these platforms. These are places where people get together and discuss common...

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The 5 Essentials to Successfully Build an Audience on Social Media

Social media gives you a direct marketing channel straight to your target audience. You can use it to spread awareness of your brand, interact personally with your followers, and learn more about the tastes and attitudes of your potential buyers. Are you ready to start growing your social media audience? Here are the five essentials you need to know first.

 

The Appropriate Social Media Mindset

There’s a certain mindset you need to have if you want to grow your audience on social media. Most of the platforms are fun, relaxed, and friendly. You have to be ready to interact in a positive way, not promoting or expecting anything in return.

If you can be a positive, helpful presence, you’ll see much better results from your efforts. So, get in the right state of mind before you log on and start building your audience.

 

Identify Your Goals

What are your goals for growing your audience on social media? “Because everybody’s doing it” isn’t...

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