Posts Tagged ‘Services’

How To Increase The Perceived Value Of Your Goods And Services!

April 8th, 2021

Increasing the perceived value of your goods and services is
one sure-fire way of making more money, right? After all,
perception is reality and increasing your perceived value
lets you easily charge more money.

But for some people this just isn’t an easy thing to do.
Many entrepreneurs get “stuck” when it comes to asking for
money, or asking for more money.

Here’s one way to get around this — hopefully you’ll be able
to use it.

If you’re ever stuck for an analogy about your prices, or
about part of the process of what you do, a good rule of
thumb you can always fall back on, is to use medical

For example, “Sure my copywriting fees are high — but let
me ask you this: Which doctor do you want performing heart
surgery on your life — the “cheap” doctor… or the guy
who’s charging you a premium for his services?”

If you really want to be dirty, you can say “If your son or
daughter needed open heart surgery… which doctor would
you want performing the operation — the guy who was
charging the most money… or the “discount” heart

Or how about this one, “Once we meet, I’ll ask you a series
of questions about your background and how you came to
develop your current thought processes. Kind of like when
you go to the doctor for the first time and they ask you all
sorts of questions about your health… your parents
health… what kind of foods you’re eating… and your
fitness and lifestyle habits.

Make sense?”

Why is using “health care” such a safe bet?

Simple: It’s something absolutely every single
person on the face of this earth, who lives in an
industrialized country… can relate to, and for many
of your prospects, you’ll also be touching a nerve with
it since health is such a critical issue.

And “bonding” with your prospects is one of the most important
“inside secrets” to making your sale.

Now here’s something exciting: Tomorrow, my family and I
are moving across the state to the Tampa Bay area.

So if you don’t hear from me for a few days, it’s because
they DIDN’T install my broadband and my electricity WASN’T
hooked up like they told me it would be.

One thing I’ve discovered (besides “moving sucks”) is that
I’m excited about exploring a completely new area. It’ll be
like a new adventure for us.

Figuring out where to go… and what to do… (and where to
NOT go and what NOT to do) is something I’m looking forward
to doing, especially with my wife and kids.

Just think, how many times in your life does “finding a new
restaurant” become something you’re looking forward to?

And since every day you wake up is kind of like the first
line of the first page of whatever it is you’re writing…
I’ll bet you a dollar to a hole in a donut, that on this
adventure… I’m getting ready to write… some very
powerful… best-sellers.

Now go sell something,

Craig Garber

How Much Do You Charge For Your Goods and Services?

February 8th, 2021

It’s one of the most basic, yet most elusive questions asked in all types of businesses. Of course you want to make money, but you also want to set prices at a reasonable rate so that you will not lose business. So how do you strike that balance? How do you calculate pricing for products and services offered through your business? How do you determine a rate that is right for all involved?

Business First

The first thing to remember when setting prices for goods and services is that you are in business to turn a profit – not just to be a nice guy or girl, but to make money. If you do not set your prices at a rate that allows for profitability after expenses, you do not have a profitable, sustainable, business, and success in small business will always be unachievable. If you’ve set the bar too low, you’ll be out of business within months.

Clients and Customers Second

Naturally you cannot completely ignore your clientele and customer base when setting your prices. Whomever your target audience is, your prices must reflect a cost that can be supported by that market segment. However, if you do your research and give value for the money, you should have arrived at a cost sustainable by your group.

Tips for Setting the Pricing Bar

Let’s take a look at the actual process of setting prices for products and services. Use these tips and market factors to help you arrive at a competitive pricing structure.

- First, research the competition. Get a clear view on the prices they are charging, and where your offerings can fit in along the spectrum. Use averages as a basis, and adjust up and down according to additional or lesser value (based on factors such as those following).

- Decide how to charge. Are you looking for an hourly rate or a project-based rate? Is it a unit or wholesale price you are offering? Evaluate your product, experience or skills. In service-based industries, generally speaking, an increase in experience equates to a higher fee for service.

- Account for all variables. If there is something your product offers that another doesn’t, increase to reflect the value. If there are additional costs involved for shipping, marketing and so on, add those in too. For service-based businesses, consider all the small variables that might impact pricing. If you offer additional services, compensate for them. If clients expect add-ons, build a fee structure that allows you to recoup revenue.

- Allow for overheads. Determine how much of your business’ overheads must be supported by individual sales. Build that fractional amount into your pricing.

- Build in profit. After carefully evaluating the competition and all expenses, set a base price and then build a profit-margin into it. Determine how much profit you will be satisfied with and set your price accordingly.

Justification through Value

The one factor to always keep at the forefront of pricing is value. To be clear here, this is not about justifying your price. Your price will be justified if you have set prices fairly, based on the true value of your goods or services. Focus on the value you deliver, set a reasonable, sustainable fee, and be confident that you have served the greater good of all involved.