Questions

Hello, Although I am listed as an expert in digital marketing and advertising, pricing is an area that troubles me. I thought of asking a question to the experts. I have been running an online marketing and advertising company for almost 2 years now. Having made mistakes and learning from them, we are now able to deliver services I am proud of. I have had troubles scaling up and pricing our services properly. I can't talk to a regular business consultant because pricing for digital marketing companies can be tricky. Any ideas?? Thanks a lot!

The first step is to understand the market price range for each one of your services. As you correctly stated its difficult to get this info from competitors but you can get it from their existing customers. My reccomendation is to target customers whom have services with a competitor and instead of calling to sell your services the purpose of the call should be to ensure your service offering and price is competitive. You will find your target customer is more open to listening to you and you also get some good Intel on your competitors prices and service offering.

The other analysis you must do is determine what your value proposition is. What differentiates you from competitor. You must be real honest with yourself in this analysis because the answer might be there is not much that is different from you to the next company. If this is the case then a low cost provider must be a strategy you consider. If you do have valuable, noticeable differences from the competition you have to do everything possible to make that be known to your target market. Tell them why are you different and right for them.

Hope this helps. I will be glad to have a quick call with you to discuss a common sense approach.


Answered 8 years ago

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