“An important note about today’s episode: It was recorded prior to the pandemic and subsequent quarantines, which we’re currently in the midst of. We wanted to mention this because one of the things we talk about during this episode is not discounting your time. And in normal circumstances, I really think that people should be hesitant about ever discounting their time. However, the world is not currently working under normal circumstances and we understand that people of course need to do what they need to do to keep their businesses going during this tough time. So as you listen this episode, please keep in mind that it was recorded prior to current events. Thanks for listening and we hope everyone is staying healthy!”
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BTB regular, Vanessa Kynes, joins me for a conversation about 5 pricing mistakes I see businesses make. We talked through lots of different examples and scenarios and we also try to dive into some related questions, such as in what sort of circumstances is it okay to offer things like discounts. All that and more in today’s episode! Be sure also to check out the show notes and corresponding blog post that contains a few additional thoughts on this topic.
Find it Quickly
- 4:48 – Mistake #1: Never discounting your “get out of bed” collection
- 7:20 – Educating clients about discounts
- 19:17 – Mistake #2: not including a core service
- 21:59 – Shift from non-scalable services to scalable
- 27:00 – A la carte pricing
- 27:51 – Mistake #3: spending too much time on least profitable customers
- 34:32 – Mistake #4 and 5: not utilizing pricing psychology and not optimizing customer value
Resources
- Getting to Yes Podcast Episode
- 5 Pricing Mistakes to Avoid Blog Post
- Crafting a Services Page that Sells Podcast Episode
- The Science of Selling
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Davey is the co-founder of Davey & Krista, a creative studio known for high-converting Showit website templates crafted for photographers, creatives, and entrepreneurs. He helps businesses craft an answer to that question and then develops a strategy for communicating it. After years of running agencies that have managed millions in ad spend, he’s seen firsthand the power of effectively answering that question.
Explore website templates and free resources at daveyandkrista.com.
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