014: Profitable pricing strategies

What this episode covers

Pricing your product or service is one of the first and most important considerations when starting a business or launching a new offer. But why is it that so many online business owners struggle to price their products? Choosing the right pricing strategy can be difficult. A profitable pricing strategy is important and as business owners knowing the costs of producing a product or service and knowing the value of the problem it solves is a critical to how you should price your product. Today’s episode, the Geeks talk about various strategies and techniques on how to price a product, may it be a physical product or a digital product or a service. There are a lot of considerations with it and the Geeks break it down through various examples from real life businesses. What To Listen For: Defining a profitable pricing strategy Physical product pricing strategy Why honesty in pricing is important Why pricing digital products isn’t simple What are hard costs and soft costs? Value-based pricing Tips for pricing services versus products Pricing of subscription model services What’s Grinding Our Gears? Joe – Amazon shipping rules when a buyer decides to cancel a product that is already in their warehouse. One Cool Thing Jen: Google Drive’s “Shift + Z” keyboard shortcut that copies a document to multiple folders. What’s Up with the Geeks? Grab Joe Pardo’s book – Sales Won’t Save Your Business: Focus on the T.O.P Check In With The Geeks Catch us live each week on Monday 8pm EDT / Tuesday 10am AEST at the Business Geeks Podcast page on Facebook. Submit your question to the geeks at [email protected] to have your question answered live on the show. Be sure to include your business name for a free shoutout. Find Sam at SamanthaRiley.global Facebook, Instagram, LinkedIn Find Jen at Sparent.co Find Joe at SuperJoePardo.com