Customers want quality. But they judge quality by price. How do you handle that? Carl tells you how in this episode of #70secondCEO.
Read full transcript:
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over one minute investment every day for a lifetime of results.
Carl how do I price my bold promise? So we’ll deal with that one, that’s one come in for once, I thought I’d throw in there. So in stage two that’s the specialty stage, that’s where you become a known as an authority in your niche. Okay you’re known as the smartest tool in the shed, you’re the person who’s go to resource. Now if you think about that for a moment, how do we know who’s an expert? How do we judge that? Well interestingly enough if you were to go to a shopping mall when they’re all re-open again and you would ask consumers as they’re going in and out. What are you looking for today? Are you looking for the highest price products and services? Or the highest quality products and services? And most people would say “highest quality” and you would say “alright, how do you judge quality?” And those say “well price of course, if it’s expensive it must be good or if it’s almost free it must be good, if it’s price at the top or the bottom of the niche, boy that’s must be good”. So our pricing is one of the top ways that you’ll communicate with your clientele and so that’s a big part of stage two. So in stage two you need to have a bold price but also a bold promise.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.