EP093 – Mastering the art of pricing with Mark Peacock

In this episode of 'It's a Numbers Game,' hosts Adam and Daniel are joined by special guest Mark Peacock, a pricing expert who runs the company Pricemaker. Mark discusses the crucial, yet often overlooked, area of pricing and shares effective strategies for business growth. The conversation covers the psychology of pricing, client profitability analysis, and the importance of annual price increases. Key insights include the impact of small price changes on net profit, the concept of price anchoring, and segmenting clients for tailored price adjustments. Mark emphasises the need for confidence in pricing decisions and offers practical tips for MSPs and businesses to enhance their pricing power. The episode also touches on common psychological barriers to proper pricing and aims to demystify this often daunting area. This engaging and valuable discussion is a must-listen for business owners looking to improve their bottom line.   00:00 Introduction and Guest Welcome 00:18 The Importance of Pricing in Business 07:54 Understanding Client Profitability 13:41 Annual Price Increases 22:33 The Psychology of Pricing 31:36 Conclusion and Contact Information   DM Adam or Daniel to request a copy of the "Raise your prices without raising eyebrows" guide.    Connect with Mark Peacock on LinkedIn by clicking here –https://www.linkedin.com/in/mark-peacock-pricemaker Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/ Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/     We look forward to catching up with you on the next one. Stay tuned!