USR 333: Competing On Price Will Destroy Your Brand And Your Business

Your pricing determines so much in your business: your positioning, the number of clients you can take on, where your income will land for the year, and more.

One common mistake I see with entrepreneurs is greatly undercharging for their products or services or lowering their prices when things get hard. But neither of those things are the solution!

Today’s episode will help you navigate your pricing, sell to people who buy based on value instead of price, and position yourself as a premium brand.

2:56 “In every market there is going to be a segment of buyers that buy based on price and a segment of buyers that buy based on value. You have be sure that you are positioning yourself the right way to communicate and associate with the group that wants that value - not the buyer that wants the bottom dollar price.”

5:50 “Don’t do things in a vacuum. Ask your buyer. Ask your market. Communicate directly with them. Use keywords and phrases they use. Speak their language and use their knowledge and insights they shared with you to share with other people you are looking to connect and engage with.”

13:21 “Avoid those pitfalls of thinking that your sales problem can be solved with a lower price. Where you position yourself from a pricing standpoint is ultimately where you are positioning your brand. It is your credibility and authority of your brand.”

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