BEFORE YOU PUT A PRICE TAG

Do you clearly understand the value of your product or service to a customer?

Before you put a price on your product or service, first attempt to determine its value.

For example, the value of the service of my barber to me is that he helps me look presentable which influences the perception people have about me.

The right perception about me will in turn increase my influence and income.

It would be an error for my barber to think that the value of his service ends with just giving me a nice hair cut. It goes beyond that.

He is helping me build better relationships with people because only a few people want to be associated with a person who looks rough and unkempt.

Once you can clearly articulate the value of your product or service to your customers, your marketing message will change and you will price your product or service to its commensurate value.

Can you see how powerful this is?

The reason why you charge peanuts for what you do is because you don't yet know the value of what you do.

If you knew that your product or service will help your customer $1000 in profit, would you feel a thing pricing your product at $100?

You need clarity in order to price your products and services effectively.

To make crazy sales, you must focus on the underlying benefits of your solution to your customers

Another example; A fashion designer doesn't just make clothes for people. They also help people feel more confident, increase self esteem and sense of self worth. This is the benefit behind the benefit.

So, before you go slapping a price on your solution, you must first determine:

1. Your production cost; How much does it cost you to create and market your product.

2. The value of your solution to a customer in terms of time and profit.

Love,

Zim Simon

#TheYeast