014: Profitable pricing strategies

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 questions@businessgeekspodcast.com 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

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Find Jen at Sparent.co

Find Joe at SuperJoePardo.com

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