As a B2B business owner it can be tough to set a consistent rate for your complex product or service?
It’s not uncommon to struggle with this…
Especially when you’re dealing with a unique offering that doesn’t have many comparables in the market.
However, the problem with not having a clear pricing strategy is that it can put off potential clients who want to make an informed decision before investing their money.
One solution to this problem is to create comparables.
This means introducing different packages that customers can choose from, depending on their requirements. For instance, you could offer a basic package, a premium package, and a deluxe package. These would all have varying levels of features and services. This gives customers a clear understanding of what they can expect for each price point.
Another approach is to draw comparisons with other industries that have similar pricing structures.
For example, if you’re a consultant you could explain how self-paced options work in other fields such as online learning. This gives customers a reference point for your rates, making it easier for them to make a decision.
It’s also essential to emphasize the value that your product or service provides.
One way to do this is by talking about the return on investment (ROI) that customers can expect from working with you. This helps them understand the long-term benefits of investing in your offering.
Or… you could also talk about the cost of inaction (COI), which is the potential cost that customers could incur if they don’t use your product or service.
Ultimately, creating comparables is about giving your customers a clear understanding of what they’re paying for and what they can expect in return.
This not only helps them make an informed decision, but it also builds trust in your brand.
So…
If you’re struggling to set a consistent rate, don’t be afraid to create comparables to communicate the value of your offering to your customers.
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