Below are three ideas for small businesses, which will help you to charge a premium price.
The Value Of Your Product Or Service
What’s the value of the product or service that you are offering? What’s the perceived value of your product or service? How does a prospective buyer perceive the value?
Sometimes when something is priced higher it gives the perception that it is better quality so you will attract customers who are looking for quality rather than being price driven. If something is cheap then the next question must be ‘why is it cheap’?
Demand Generation & Customer Advocates
Can you generate demand for your product or service with others endorsing you, the business or the product online so that you’re perceived as credible in the industry and people engage with you? This will increasing customers willingness to pay more. Demand generation enhances the brand.
Believing in your product or service
If you believe in your product or service and the people selling it believe in it too, this comes across in the way you communicate and how you present your sales pitch. Customers are more likely to buy into this.
ODK is a firm of accountants based in Cork and specializing in advising SME and family business clients.