Sell More by Keeping Prices Simple

Sell More by Keeping Prices Simple

Humans are interesting creatures. We can understand and implement concepts of such complexity – and yet, we are allured by simple things. When it comes to economic decisions (like what we buy), the easier the decision is, the more likely we are to make a commitment. Just as behavioral economist Richard Thaler said: “If you … Read more

3 Rules to Keep Your Pricing Fair

3 Rules to Keep Your Pricing Fair

To maximize the profit increase you can achieve through pricing, you must use some form of price segmentation. After all, not all customers have the same willingness to pay. Setting different prices for the same product/service means more people can buy from you, and you earn more revenue. But is price segmentation fair?  Is it … Read more

Increase Conversions with the Click of a Button – Literally!

I remember hearing about a company who changed their customer’s behavior simply by altering the default setting for their subscription check-box. Their original version offered both annual and monthly subscriptions, with the monthly version selected as the default. With this version, they had about 11% of their subscribers sign up with annual subscriptions. Utilize Your … Read more

Pricing Consultant vs. Pricing Advisor – What’s the Difference?

Do You Need a Pricing Consultant or a Pricing Advisor?

Often people ask if I offer consulting services.  I hate that question because I have to honestly answer no, but then explain I offer advisory services.  Here is what you might want to know about being or hiring a pricing advisor.   What is the difference?   In my career, I’ve hired and worked beside pricing consultants.  … Read more

Pricing for Customer Lifetime Value

Pricing for Customer Lifetime Value

Customer lifetime value refers to how much value (or revenue) we could earn from a customer over the duration of their time with us as a customer. So long as it’s profitable to do so, a business should prioritize deepening and lengthening this metric. So, how do you price to maximize the lifetime value of … Read more

Market Cap Pricing

Market Cap Pricing

The first time I heard the concept – Price for Market Capitalization – was from a close friend of mine, Brent Bilger.  Brent has been involved with start-up companies for over 3 decades, and has had a hand in many successes.  Like most great ideas, once you hear this concept, it seems obvious – but … Read more