Many companies offer lower, introductory pricing to grow their client base. But is this a good idea? That turns out to be a more difficult question than it may seem to be. What happens to your brand when you attract new customers by giving them a lower price as an incentive to sign-on? In marketing, we refer to this as…
Will 2025 be a profitable year for your company? I know you want it to be, but will it? Unless you've been stranded in the desert (under a rock), you know we've just had an election here in the USA, and the outcome will shift the party in control. Expected economic policy changes will most likely impact your business -…
Pricing products or services to grow your company and maximize profit is one of the most difficult aspects of operating a business. It’s also one of the most important factors in the overall success of your company. Value-based pricing is not always an appropriate strategy, but when it can be used it is a great option for optimizing growth. Is…
If you don’t already have one, you should consider creating a pricing policy. Without one, your profitability can become subject to inconsistent pricing, and you may even risk going out of business. A pricing policy helps you ensure that your company is making a profit, not just generating sales and revenue. A formal pricing policy helps you grow your business…