Archive for the 'Pricing' Category

Can one idea be worth $50,000?

You be the judge if one idea can be worth $50,000.

Business Coaching Result - Dr Marc Dussault

Last Chance to Recession Proof Your Business for $17

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Lower Product Pricing Can Increase Sales And Profitability

I just took a week of leave in beautiful and NATURAL Broome in Northern Western Australia…

I highly recommend it if you want to get away from the hustle and bustle of every day MODERN life.

Cable Beach is majestic with tides that rise and fall faster than anywhere else I have seen – truly something to witness – the power of nature to alter the OCEAN within MINUTES…

Anyway, this is a BUSINESS BLOG, not a travel blog…

Monica and I took the infamous camel ride on the beach, at sunset – it was spectacular.

What does this have to do with business and pricing?

GREAT question!

BEFORE we mounted the camels, they told us they would take pictures and that they would be developed BEFORE we got off 60 minutes later. For a price…

The price?

$10

That’s right, $10.

I thought this was brilliant – FINALLY someone who understands that just because you have a CAPTIVE AUDIENCE doesn’t mean you have the right to price gouge them.

They understand – I am sure they tested it – that they will sell 3 times more at $10 than they would at $20.

At $10 it’s a no-brainer decision. It’s a memento that 80% of the riders bought.

80% conversion on the back-end.

Absolutely BRILLIANT!

The tour company we took was called Ships of the Desert.

Every once in a while something like this happens and is WORTHY OF MENTION.

Pricing is all about MAXIMISING value and OPTIMISING revenue.

Many people forget that.

I was left with a positive feeling and BOUGHT the photo that I will scan and send to friends and family…

At $20 I would not have bought it – maybe just to make a point that they can’t abuse the PRIVILEGE they have.

Too often, business people get greedy.

Too often, business people forget to put themselves in the client’s shoes.

Not this time.

I thoroughly enjoyed the experience and now have a memento that is ‘priceless’… All for $10.

What a GREAT deal.

Now I’m telling THOUSANDS of people about it… See what happens when you treat your clients right?

Onward and upward!
Marc

P.S.
As you know, this blog is all about learning the Exponential Mindset and Strategies that can make ALL the difference.

What pricing tests can you do right now?

What prices can you lower to INCREASE sales? Increase goodwill? Decrease cognitive dissonance?

Think about it – an 80% back-end is an awesome result.

Once you’ve thought about, DO SOMETHING ABOUT IT.

Then let me know what happened by posting a comment on this blog.