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Your Ultimate Guide to Pricing Strategies

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Once your price is set, it's stuck there. In this guide, we'll give you the sales tips and pricing strategies to sell value, negotiate and make a profit while doing what you love.
By Jennifer Riggins for http://www.quoteroller.com

Published in: Business, Economy & Finance
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Your Ultimate Guide to Pricing Strategies

  1. 1. Stellar Pricing Strategies Sales Tips for how to sell value, negotiate and make a profit while doing what you love.
  2. 2. Start by asking yourself: What is the value of our product or service? Why is it beneficial? What problem does it solve for my client? How much time/money will they be saving by outsourcing?
  3. 3. Know Your Client Bid higher with larger, institutional clients Bid lower with individuals with up-andcoming startups with friends Also look for value, asking yourself:
 Will this project improve our portfolio?
 Is this a new direction we want to head in?
  4. 4. Set an Absolute Minimum Once you lower your bar, it’s stuck there Know what you’re worth and don’t drop below. In general, the lowest range of rates you see advertised aren’t your caliber of work.
  5. 5. Ask high, but be willing to negotiate Rule of Thumb: Quote 50% higher than your absolute minimum Don’t be afraid to scare away with asking too high — you’re worth it!
  6. 6. Use Price as an Opportunity to talk Quality Winning every bid isn’t always good for business. 1. Price smooths Supply vs. Demand. 2. Price is a statement of your value. 3. Price is a differentiator. This advice offered by Jason Blumer of Blumer & Associates CPAs.
  7. 7. 1. Price smooths Supply vs. Demand. If you’re winning every pitch, you’re probably not charging enough… Because there is a limited supply (your company’s resources.) Raising your prices is a sign that you are in high demand. This advice offered by Jason Blumer of Blumer & Associates CPAs.
  8. 8. 2. Price is a statement of your value. A higher price says, “We are good at what we do and we know it.” This kind of confidence lets the right clients know you are going to take care of them. Let the world know you that you only serve a select few. This advice offered by Jason Blumer of Blumer & Associates CPAs.
  9. 9. 3. Price is a differentiator. “We are different and we know it. That’s why our prices are higher.” A price that’s higher than the competition will make clients ask, “Why are you so much more?” Answer them with all the ways you’re more valuable. This advice offered by Jason Blumer of Blumer & Associates CPAs.
  10. 10. How NOT to negotiate price If you’re looking for a long-term customer, price is not the conversation you want to be having.
  11. 11. How NOT to Negotiate Price Everybody loves a Package: 
 Instead of cutting numbers, offer something extra. Everybody loves Reassurance:
 Offer a free trial or a money-back guarantee. Everybody feels like they can Barter:
 So don’t low-ball from the start.
  12. 12. How NOT to Negotiate Price Just because a client talks price doesn’t mean it’s important to him. 
 During the crisis, asking for lower prices becomes habit. Steer that conversation toward value, not dollars. Before entering a sales call, know your limit.
 And don’t be afraid to walk away.
  13. 13. 5 Tips to Negotiate VALUE of Service 1. Let your customer initiate the price conversation. 2. Change that conversation right away. 3. Break down how each service (and price) aligns with customer needs. 4. Talk long-term advantages. 5. Stand by your plan with consistent pricing. You wouldn’t negotiate with your doctor, mechanic or dry cleaner. Why should your clients negotiate with you?
  14. 14. Let’s talk pricing
 (What your clients are spending time looking at) Charging by the hour, project, retainer? Offer options: quantity, hours, services Add payment plan in Terms & Conditions
  15. 15. Pricing Catalog Build your own table to re-use. Here is where you build your Catalog items to send to your client within Quote Roller. Click on the Green + button to add a service
  16. 16. Pricing: Add a Service Enter Name, Price, Quantity (QTY) Mark any Service as Optional or Quantity Editable Hit Save
  17. 17. Pricing Table Settings Mark any Service as Line Item or Total Discount Choose Tax Type Choose Currency Click Step: Edit
  18. 18. Offer Pricing Options Using an online pricing table lets you offer your clients packages, quantities, and other options. Plus, then you can know how long your clients are looking at each section!
  19. 19. Average time it takes to create a quote within Quote Roller = 15 minutes ! ! Average win rate increase using Quote Roller = 28%
  20. 20. Go to QuoteRoller.com to start saving time & money creating persuasive business proposals today!

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