Lightning Strikes: On Price Changes, Inquiries and Responses

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lightning strikes Lightning Strikes: On Price Changes, Inquiries and Responses

This episode was broken down into the following sections:

  • Growing Pains of Business Growth
  • Price Changes: Setting the Price of Your Products and Services
  • Responding to Your Audience: Working Through Questions and When to Respond

Some Things to Consider…

Business growth leads to change, including the pricing of your products and services. As you look to set your pricing, make a list and ask yourself the following:

  • How much time does it take you to create, manage, etc.?
  • What is your time worth to you?
  • What is the market for a similar product or service?
  • How many do you expect to sell?
  • How many do you need to sell at a certain price to be worth your while?
  • Who is your target market?
  • How much will customers pay?

As you grow, inquiries increase. Weeding out the trolls…

  • Is the question about your product or service?
  • Do people pay for the information that is being requested for free?
  • Is the question reasonable?
  • Do you need help to respond to the reasonable questions?

Raise a glass to growing your business!

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About Jon Loomer

Jon Loomer is a digital marketing consultant with a unique perspective on social media. He was introduced to Facebook in 2007 while with the NBA (back before Pages) and has been using Facebook for business ever since. Stay in touch by liking his Facebook Page (Jon Loomer Digital).

  • Mark H

    Jon,

    Need more volume on this… or a volume adjuster. :)

    Thanks!

  • Liz

    Cheers to Castle Rock, CO!

  • Sami Khaleeq

    Jon, Great podcast. I have a lot of people who are new in the industry asking me about pricing and i always teach about Value Based Pricing. It is based on how much value do you provide. Like you mentioned, If the knowledge you give away is worth $1000 an hour by all means charge it. A great example of this is similar field to marketer, which is design. A web designer made a website for Fortune 500 company and charged $3000 per page. Same designer made a website for small business and charge $100 per page. Most of the pricing like you mentioned is based on Time + Research and Value you are providing. You might be paying $297 for 45 minute for a consultant but in the end you leave smarter.

    I deal with so many clients with crisis management issues, because they dint invest some time in learning how to do it right.

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