Questions

I have an established service/business I have been running for years, and I am considered an expert in my field. I am rebuilding our very old site, which will have many new features and a membership aspect. Unfortunately, my pricing has remained the same over the last several years, and I have always given away more for free than I should have from a business standpoint. I want to make this a viable business model and compensate myself for the time I pour into it. The new site launch brings so much to the table, but it will also cost more to maintain. How do I raise my prices without losing my customers? How do I price our new products without pricing them out? There is no one else who provides this local service.

Hi
Good luck.
A few options:
1. use AB testing: show different prices for the same service (either using different pages), or if not possible, show one price for 1 or 2 weeks, and another price for the other 2 weeks, and so on (3-4 times) until you find the ideal conversion price.
2. Use a survey for existing clients - ask them how (much) they value your business - you might be surprised for the better. Don't forget to offer an incentive for people who take the survey.
3. Raise prices, but add something to the new offer - even if seemingly small to you. this way, they are paying a bit more because they're getting more (which makes it feel justified to them) and not just because you raised prices.
Good luck
I've successfully helped over 300 entrepreneurs and would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/assafben-david


Answered 9 months ago

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