https://www.youtube.com/watch?v=d9TrzF3Tvp8
<aside> 💎 Generating revenue for your business is a nice side effect that happens when you effectively solve your customers’ biggest problem.
</aside>
There are at least a dozen pricing strategies but 99% of businesses choose the one where they look at their competitors and charge slightly lower to attract more customers.
It has worked in some cases, but I’m not a fan of this strategy.
Here’s why 👇
If you can choose (for free) between a $1 pen and $1,000,000 pen which pen will you choose?
The $1,000,000 for sure!
Price is directly correlated to the value people attach to the product or service.
If your price is too low, you reduce the value and it can reduce people’s willingness to buy.