The million-dollar question- what is the right price?

The question of the right price always comes up on a business table, but it does not always have a satisfactory answer within the business.

Some of us charge less than we deserve.

Some of us don’t believe we deserve this anymore.

The ultimate result in both cases is that we feel exploited.

Correct pricing

When we build the pricing model for the product or business service that the company offers, we must take into account a number of parameters:

  1. The business market – who the competitors are, how much they charge for their services, etc.
    • Knowing the market will allow you to get an estimate of where we are.
    • It’s important that you make a strategic decision about where you want to be.
  2. Cheap is expensive – clear sector boundaries such as: minimum price, work contents, hours circumference, etc. must be defined.
    • You don’t have to recruit customers at all costs.
    • Low prices have an impact on the quality of the products, the sense of exploitation and the impact on the rest of the business customers.
    • Make sure to give a price range – this will be the way you will be and also to the customer it is easier to conduct effective negotiating.
  3. Customer value – It is important to understand the value you generate for customers. Value can be expressed in professional experience, business relationships, personal attention, complementary knowledge that does not exist in the business and more.
    • In talking about the price, it is important to reflect to the customer that you understand the value you offer them.
    • If you understand the “client’s pain” what problems you are solving, you have come a long way.
  4. Out-of-the-box pricing – Each customer has a model that suits him, and we must make sure to be as flexible and adapted as possible.
    • Some prefer hourly pricing, global pricing, real estate, etc.
    • It is important to be attentive to the customer and thus adapt a relevant model to it.

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