Sunday, 9 November 2008

Bright Marketing Manifesto - Put Up Prices, Now!

Some Thought Bubbles:

- As a small/growing/independent business you can not compete on price - there are always bigger businesses around with better buying power/sales people/customer reach etc and they will always beat you in a price war
- 95% of people do not buy on price despite what they say
- When you put prices up the clients that leave you are normally the 'scum' - the disloyal that buy on price
- When you put prices up, the clients that stay with you are the ones buying on everything but price - they love your service/flexibility/localness/friendliness etc etc
- When prices go up you can afford to lose clients (with a 30%GP and a price increase of 10%... you can lose up to 25% of sales volumes and still get the same gross profit!)
- At my last twenty events I have asked the question "Who has put prices up in the last six months?" - not one person has put prices up has seen a loss in profits as a result!


RELEVANT LINKS
Cutting Prices - bloglink
Barclays ‘Let’s Talk…’ Programme – webpages and online booking for the Let’s Talk… workshops
Putting up prices - bloglink

If you actually want to understand how and why and when to put up prices then give us a call on +44 (0)1225 851044 or contact me at
rc@directorscentre.com - this is one of the many things that my team help people to do
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