Remember this–Sales Cures All.
When wondering how to price our products as we introduce them into a (sometimes) saturated market, we can often overcomplicate and over-analyze to our detriment. I know I’m guilty of this!
I wanted to share with y’all a method that has helped me to land on pricing products in the hopes that it lightens your load or can give you clarity when trying to figure out how to price your products (or services too)!
- Identify your target audience and how you can serve them–one of my favorite quotes on this is “business is a lot like tennis, if you don’t serve well-you lose.
- Research the competition-consider their target audience, their pricing, what are their products or services.
- How will you set your products/services apart from the competition–what makes you unique and why should they buy from you rather than them?
- Consider how you want to position yourself in the market–I guarantee you’ll have more peace setting higher prices that target the audience that values you than by pricing low and trying to reach everyone.
- Most importantly, START. It’s better to start and then start-over rather than never getting started at all.