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Don't start from the bottom
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Sometimes you need to start from the bottom up. Pricing is not when. When presenting 3 options for your customers to choose from, the usual way the proposal building gets approach is: Listen to the budget. Think of what could be built based on the budget and make a profit. Think of what the next thing could be built and make a higher profit. And build an even better one that would blow their minds (and be used as the high anchor). The thing is, it takes more effort on doing it so. It requires more and more things to keep adding and it also makes it tougher to justify price jumps on what could be done. Now, approaching it the other way around. What does it look like? Listen to the budget. And ignore it. The budget is a constraint to a self-diagnose. What they think they might need to spend, based on their assumptions (accurate or not). Now, focus on what they're really after: what's that big thing they would LOVE to achieve and put metrics (measurements+ judgement) to it. Think and design in broad strokes what that would look like. And price it. Then go to the lower end and consider the budget. Ask what could you build from that BIG picture at the top, for that budget. Finally, go to the middle and make something between those 2. Before you were anchoring in what "they could pay". After, on what "they want". |
Rod Aparicio
Get one tip, question, or belief-challenge that just might change the way you market, to help your customers buy. A *daily* email for b2b founders on improving your business —without the bullshit.
Once again, Genevieve Hayes came up with a follow up to yesterday's message: The Elephant. "I think Jerry Seinfeld expressed this one best:" This is what got me to stop passing my problems forward and making them the problems of "future me". Mic drop, Genevieve.
There are situations that can be VERY stressful —within your business, with your prospects, with your clients. Kicking them down the road to not deal with them feels tempting, and you might even feel like they're avoidable. They're not. Sometimes they're an elephant stomping and charging your way. Because you put your hands in front of your face won't make them disappear —and certainly won't stop them. Make the decision. Take the decision. You already know what to do. And it's a simple...
A discussion with Dr. Genevieve Hayes —data science expert and long-time friend-of-the-list— about context inspired this daily. We (humans) LOVE making up stories. When we don't have a reference point, our imagination flies. Give that reference point to your customers. So that you lead where their imagination can go wild. :)