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The power of options. And why to give 3.
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Pre-S. Influenza got me good this past week. Not fun having high fever sustained through days and nights. So, PSA, get vaxxed if you can. :) ------------ Giving your customers 3 options actually helps them. It gives your customers agency. That they are in charge —which they are— of what's next. It gives them a better view of your expertise and how you're thinking for them and with them. It makes the comparison easier between you and your competitors: it goes from "Why should i choose you?" to "Which one i choose from you?" 3, because it's the magic number. (: It gives them enough amplitude in the decision, without overwhelming them. It decreases the risk of the extremes. It helps you anchor high against yourself. It sets the tone to ditch discounting —"want a lower price? Take any of the 2 lower options. :)" Avoids analysis paralysis in your customers' brains. Pushes you to think in bigger ways than what the budget is. Try 3 options. It'll be ALWAYS better than your take-it-or-leave-it one-option. |
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.
Protect your margins overall. Find ways to improve your efficiencies. Cut costs. Add extras to what they pay. Transfer costs out (to your customers). Control scope better. Adjust your rates to inflation. Sure. Makes sense when thin margins is all you have. And when you know only that cost reduction is what keeps you alive. What if you shift from costs to value?
Being transparent about how you set the price you give. It has nothing to do with your customer. It's all internal. It's about how you can capture the most of the value your customer gets from you, and that's it's clear to you and the people who are involved in it, at their own levels. aka. from marketing to brand to accounting to finance to sales, etc. "But what about being transparent with them? It feels like we'd be lying." Understandable. And your customer doesn't actually care. If they...
Being transparent about the price you give. It's giving the right and complete information to your customer about what they will pay for, beforehand. It has to do with them having the best information to make their decision. And no surprises. That there won't be fine print. That they can trust you when you give them a price. That you won't sneak on them. This is price transparency.