Pricing your product or service is one of the first and most important considerations when starting a business or launching a new offer. But why is it that so many online business owners struggle to price their products?
Choosing the right pricing strategy can be difficult. A profitable pricing strategy is important and as business owners knowing the costs of producing a product or service and knowing the value of the problem it solves is a critical to how you should price your product.
Today’s episode, the Geeks talk about various strategies and techniques on how to price a product, may it be a physical product or a digital product or a service. There are a lot of considerations with it and the Geeks break it down through various examples from real life businesses.
What To Listen For:
- Defining a profitable pricing strategy
- Physical product pricing strategy
- Why honesty in pricing is important
- Why pricing digital products isn’t simple
- What are hard costs and soft costs?
- Value-based pricing
- Tips for pricing services versus products
- Pricing of subscription model services
What’s Grinding Our Gears?
Joe – Amazon shipping rules when a buyer decides to cancel a product that is already in their warehouse.
One Cool Thing
Jen: Google Drive’s “Shift + Z” keyboard shortcut that copies a document to multiple folders.
What’s Up with the Geeks?
Grab Joe Pardo’s book – Sales Won’t Save Your Business: Focus on the T.O.P
Check In With The Geeks
Catch us live each week on Monday 8pm EDT / Tuesday 10am AEST at the Business Geeks Podcast page on Facebook.
Submit your question to the geeks at firstname.lastname@example.org to have your question answered live on the show. Be sure to include your business name for a free shoutout.
Find Sam at SamanthaRiley.global
Find Jen at Sparent.co
Find Joe at SuperJoePardo.com