1. “I can’t raise prices because I will lose customers.”
The Price of Success
“I can’t raise prices because I will lose customers.”

2. Disclaimer for Finance People
Who are you?
Keep it simple?
Who sells Products?
Who sells services?
I am going to challenge you to think about your pricing strategy tonight.
Price per hour will limit your growth as limited by time

3. Darren Hickie
Started my career as an accounting technician in local government for 6 years.
Business Analyst for Anglian Water, New tariffs, Infrastructure upgrade and streamlined the company for shareholders
IT Consultant for Shell rolling out SAP across the world from their HQ in London.
Founded Develop and Promote in 2006 and grown it to a reasonable size and continuing to grow
Contributed to a book called Success in Business and publish every month to my clients Darren’s Dispatch.
Published Web book, next out in April
Took over a business and sold one.
Small property portfolio
Author, Trainer, Consultant, Business owner and father of 2

4. “Great Offer?”
Really £150
The average figure for the cost of a UK wedding was put at a whopping £24,000 by Brides Magazine.

5. “At the Car Wash”
A case study of value and perceived value - and why cheapest isn’t always best!
Its about perceived value, tell story about car wash in Lincoln
One priced at £1.50
Other £5
Which do you think was busy?
What do you think about someone doing a wash for £1.50? Scratches, cheap washing liquid, not focus on my car for
1 month later the cheap one had gone out of business.

6. Perceived Value
Perceived value determines the type of customers you attract
I have quoted too cheap for a business even thought I had covered enough to make lots of profit from it they turned us down.

7. “Pricing for Profit”
Pricing can put you out of business if you are too high or too low
Too high can put you out of market
Too Low you will not make a profit

8. Pricing & Marketing Strategy
Pricing is part of your marketing strategy. If you are cheaper then others you need to churn lots of customers but if your price is higher then you might not have as many in comparison and present your service in a different way.
Your price will determine the type of customers you will attract and where you will find them. Often this sets the perceived value of your service.
If your competitor reduces their price should you? Are you going to get into a pricing war? Today I will explain why you should not and why price reductions are not a good marketing strategy.
I am going to change your mindset to increase prices to get the right customer.
Always have a premium product that cost little extra to deliver to set a price point and because some buyers prefer the best option with no limitations.
Type yes in the chat box if you have a premium price option?

9. Explain accounts – this is a simple example

10. I have created a web page to do this for you which I will offer at the end

11. Explain accounts – this is a simple example
GP 33%
NP 11%

12. Reasons why people discount
Win sales
Lack of confidence in own value
Don’t understand inflation

13. Need another slide to show numbers change for each option increase and decrease

14. Explain accounts – this is a simple example
GP 45.45%
NP 27.27

15. Reasons to Increase Prices
Inflation
Attract better customers

16. 10 Ways to Increase Prices
CRM quoting system
Better marketing
Add features with no, low cost
Compare 3 version of quote
Explain increase
Put increase in many months ahead
Thank and explain increase
Fix priced quoting
Better packaging
Create perceived value compare to competitors

17. 5 Ways to Improved Business

18. “Offer” Profitable Pricing Workshop
Work your own numbers so you understand
Your real hourly pay
Access to my online calculator
Access to my online 5 ways calculator
Copy of my Pricing book (when published)
The growth percentage (Magic number)
How to increase prices for your business
Make more profit plan

19. “Offer” Profitable Pricing Workshops:
Nov 9th 13:00-16:00 only £ VAT.
ONLY TONIGHT: Get a FREE Copy of “Get Smart Around Pricing book” (When Published)
And... FREE access to my “Price Calculator”
Offer
Pricing for profit workshop May 5th from 9-12pm and May 10th from 6-9pm for £ VAT
Plus only tonight get smart around pricing book when published in April free
Plus free access to my price calculator
Fill out the form and return to me tonight

20. Overview Any questions? Is there anything we haven’t covered?
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