Pricing – A Marketing Tip from Marketing Dan

Pricing

You should always consider pricing when you are working on your marketing.

You should not promise the market a high quality service and then charge a bargain-basement fee. When you do this, you send potential clients a mixed message and this can lose you business.

If you are offering a bargain basement service and then charge a high fee most people will only buy from you once.

Look at it like this – you were thinking of hiring me as a marketing manager. I tell you my fee is $20 per hour. You have got quotes from other marketing consultants for $150 to $250 an hour for the same service.

Would that make you more likely or less likely to hire me??

Another problem with low pricing is that your clients become accustomed to paying your low price. When you want to raise it to match the pricing in the market your clients will perceive they are getting a huge pricing increase, regardless of the fact they have been paying so little.

It is most often best to sell your service on a “best service” basis rather than a “lowest pricing” basis.