Today’s meme: Pricing has the power to make your customers love you, hate you, or anything in between.
As far as loving you is concerned, obviously, they love low prices; they love discounts. But the real love happens when we can deliver a ton more value than what they expected, what they actually have to pay for.
These are the raving fans, the people who really value our products. And yet we couldn’t capture all of that value even if we wanted to.
“Pricing has the power to make your customers love you, hate you, or anything in between.”
– Mark Stiving
As to hating you, customers will absolutely hate you when you raise their prices without some reasonable explanation, without doing something nice for them, because customers hate price increases.
And of course, if our pricing is just ridiculous; if it’s horrible, for whatever reason, they will learn to hate us. So pricing really is very powerful, it causes emotions inside our customers. We want to make sure we’re managing those emotions carefully.
We hope you enjoyed this podcast. If you see have any questions or feedback please email me [email protected].
Now go make an impact.
Connect with Mark Stiving:Accelerate Your Subscription Business, ask a pricing expert, pricing metrics, pricing strategy