SHOW / EPISODE

Advanced Pricing Strategies to Improve Your Profit Margin

Episode 27
16m | Nov 28, 2023

What most small businesses do is price in the middle so they can be viewed as someone who delivers premium products at an affordable price. However, that won’t do any good. 

If you missed the previous episode, I talked about some of my common recommendations on pricing. Today, we’ll look at the more advanced pricing strategies so you can drive more sales in your business and improve your profit margin without compromising your time.

I’ll delve into the concept of willingness to pay and everything you need to know about value-based pricing strategy. I’ll also talk about why you should either be the highest or lowest-priced and some practical examples of strategic pricing.

Let’s get started!


Key Takeaways:

Introduction (00:00)

Are you strategically pricing your product/offer? (00:26)

The concept of willingness to pay (02:49)

Be either the highest-priced or the lowest-priced (05:36)

Practical examples of strategic pricing (07:08)

Strategy for the bottom-priced (09:54)

Common mistakes small businesses do when it comes to pricing (12:15)

How I approach my business with pricing (13:53)

What you’re giving up when you’re pricing in the middle (15:03)

Episode wrap-up (15:49)


Additional Resources:

- Learn how to jumpstart your SaaS business for FREE here

- Grow your business with Matt here 

- Connect with Matt on Facebook here

- Follow Matt on Instagram here

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Marketing with Matt is a podcast dedicated to entrepreneurs and business owners who are looking for more margin in their business through marketing and sales and eventually profit more and work less.

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