What are the common pitfalls and mistakes to avoid when setting and changing prices?

Avoid arbitrary pricing by relying on data and analysis to set or adjust your prices. Gut feelings or guesswork can lead to underpricing or overpricing, impacting revenue and customer satisfaction. Consider factors like costs, value proposition, target market, competition, and differentiation. Regularly test and monitor prices to optimize sales volume, margin, and customer satisfaction.

Setting or changing prices based on gut feelings is a recipe for disaster. Back up your decisions with data like costs, value, target market, and competition. Test and tweak your prices to find the sweet spot that boosts sales and profits.

Los precios deben basarse en análisis de mercado, costos y valor percibido por el cliente, no en conjeturas o presiones momentáneas. Los precios arbitrarios pueden desorientar a los clientes y erosionar la confianza en tu marca. Utiliza datos históricos, estudia la competencia y realiza pruebas de precios para encontrar el equilibrio adecuado. Mantén una estrategia de precios coherente y bien fundamentada para evitar pérdidas y fortalecer la relación con tus clientes. Evitar la arbitrariedad asegura una política de precios sostenible y competitiva.

Avoid the trap of arbitrary pricing by basing your decisions on data and analysis. Don't rely on gut feelings or guesswork, as this can lead to underpricing or overpricing, ultimately impacting revenue and customer satisfaction. Instead, consider factors such as costs, value proposition, target market, competition, and differentiation when setting or adjusting your prices. Regularly test and monitor your prices to optimize sales volume, margin, and customer satisfaction. By adopting a data-driven pricing approach, you'll be able to make informed decisions that drive revenue growth and stay ahead of the competition.

Steer clear of arbitrary pricing; it's a major no-no. Trusting your gut can lead to pricing blunders. Instead, rely on data: consider costs, value, market, demand, competition, and differentiation. Regularly test and monitor prices to optimize sales, margins, and customer satisfaction. It's the data-driven way to price for success!

En ventas, las guerras de precios son una trampa común que puede devastar la rentabilidad y la percepción del valor de tu producto. Competir constantemente con precios más bajos puede erosionar los márgenes y llevar a una carrera insostenible hacia el fondo. En lugar de reducir precios, enfócate en agregar valor a tu oferta, diferenciándote a través de la calidad, el servicio al cliente y características únicas. Implementa estrategias de precios basadas en valor y evita descuentos agresivos sin justificación. Al priorizar el valor sobre el precio, puedes mantener márgenes saludables y construir una marca sólida y respetada.

As a seasoned sales expert with 21 yrs of experience, I strongly advise staying away from pricing battles at all costs. Getting into a pricing war might cause a race to the bottom, which will lower your profitability and make your goods and services less valuable. Rather, concentrate on the value you bring to them and set yourself apart with superior products and services. In the long run, you can preserve a positive brand image and increase client loyalty by avoiding pricing wars. Recall that value-based competition is preferable to price-based competition.

Nunca leve em considera??o apenas o pre?o dos seus concorrentes. Pelo menos, considere seus custos. Colocar um pre?o muito mais baixo do que o concorrente, pode te ensinar que há uma fatia do mercado a se explorar, mas também pode te levar a uma "prostitui??o de mercado". O maior ponto de dedica??o para se ajustar pre?os é: entender o cliente e refor?ar a proposta de valor para que seu pre?o possa se tornar barato, pelo tanto que você o atende. Busque formas de n?o vender apenas um software, mas venda a sua metodologia junto. As pessoas n?o compram bot?es para apertar, elas compram alguém que ensina como apertar os bot?es.

You can't compete if you can't be compared. If you want to win you either have to provide a unique solution to a problem or be the best solution available in the market. Otherwise, 90% the market will go to the best solution available (Not you) Set a floor price to protect margins and analyze not only how changing the pricing change affects sales but also customer satisfaction.

Don't fall into the price war trap—it's a sales growth killer. Lowering prices might seem tempting, but it can harm profits and your brand. Instead, stand out with your unique value, build trust, and offer extra perks to justify premium prices. It's the smarter way to win in a competitive market!

Los precios que fluctúan sin razón clara pueden confundir y frustrar a los clientes, da?ar la confianza en tu marca. La inconsistencia en precios puede surgir por falta de estrategia, reacción impulsiva a la competencia o falta de análisis de costos y valor percibido. Establece una política de precios sólida basada en datos de mercado, competencia y costos. Comunica claramente cualquier cambio de precio y justifícalo adecuadamente. La consistencia en los precios no solo fortalece la relación con los clientes, sino que también asegura la estabilidad y previsibilidad financiera de tu negocio.

Steer clear of inconsistent pricing—it's a sales growth stumbling block. Charging different rates or changing prices often confuses customers and can send them packing. Instead, opt for consistency and transparency. Communicate your pricing strategy clearly, and have a clear process for changes. Keep customers in the loop or offer alternatives. It's the path to pricing success!

Be sure to have a consistent pricing policy to avoid customer confusion, distrust, and resentment. Pick an hourly price and/or a profit percentage and stick to it. Customers like consistent and transparent pricing policies.

Quer testar pre?os? Fa?a testes A/B. Quer ter a impress?o melhor do que o cliente pensa sobre o produto, fa?a perguntas para o cliente. Quem mais vende é quem mais pergunta. N?o deixe o cliente colocar o pre?o no seu produto. Mas fa?a-o mostrar o qu?o entusiasmado ele está com a sua solu??o, a ponto de o pre?o n?o ser um impeditivo. Fa?a testes, sim! Mas fa?a testes inteligentes: mensuráveis, n?o contraditórios e simples.

?? Tomemos como ejemplo a Apple, una compa?ía que ha perfeccionado el arte de la consistencia de precios ?? A pesar de la feroz competencia, Apple raramente fluctúa en sus precios, lo que refleja una estrategia de precios coherente y transmite confianza y estabilidad a sus clientes. Esta consistencia se ha convertido en un componente clave de su propuesta de valor, demostrando que una política de precios clara y predecible puede ser tan innovadora como el producto mismo. ? Define y comunica claramente tu estrategia de precios a tus clientes. ? Asegúrate de que tus precios reflejen los valores y expectativas de tu marca. ? Establece reglas y procesos claros para la modificación de precios.

This is a very market-specific question. Some regions and some types of audience are very much used to it and often avoid non-discounted items, while for other countries and audiences the same excessive discounting might look even fraudulent.

En ventas, evitar descuentos excesivos es esencial para mantener la salud financiera y la percepción de valor de tu marca. Descuentos frecuentes o profundos pueden da?ar márgenes de ganancia y crear una expectativa constante de precios bajos entre los clientes. Esto puede devaluar tu producto y hacer que los clientes duden de su calidad. En su lugar, ofrece descuentos estratégicos y bien planificados, como promociones limitadas o programas de fidelización.

Steer clear of excessive discounting—it's a sales growth snag. While discounts can help, overdoing it can hurt your brand and profits. Use them strategically, with clear goals and limits. Set rules like duration, frequency, or minimum requirements. Avoid creating price-sensitive customers. It's the savvy way to use discounts!

Os clientes sempre pedir?o desconto, até mesmo os mais satisfeitos e convencidos. Tenha sempre cartas na manga para desviar o foco do pre?o. Essas cartas na manga s?o o que você irá conceder gratuitamente ou dará desconto. Assim, você n?o altera a mensalidade que é o que realmente importa. Exemplos de carta na manga: Valor da implementa??o, cursos, treinamentos, Feature B?nus e etc. Nunca mexa em seus planos originais. Somente em situa??es que você percebeu que realmente n?o há o que fazer. Existe uma regra que vale ouro: Se você abrir m?o de uma porcentagem de seu pre?o, o cliente também precisa abrir m?o de alguma coisa. Isso irá te ajudar a saber negociar e ir em busca de uma solu??o onde ambos perdem ou ambos ganham.

When "excessive" discounting is suggested it should be the exception, not the norm. Excessive discounting should trigger assessing the root cause and whether it addresses a temporary situation or represents a bigger concern. There are consequences such as reduced margins, weakened product value, and conditioning customers on how to negotiate a better price in the future. There could be benefits including liquidating outdated products that have been sunset, or generating cash flow in the face of a sudden downturn. Avoid excessive discounting when possible. Be sure to know what is driving the need, how it will impact the business, and why it makes sense. In the end it is a tool that can be helpful when used correctly.

Utilize pricing and discounting tools and software to enhance your pricing strategy and avoid common pitfalls. These tools enable efficient data collection and analysis, market research, customer segmentation, and pricing optimization. They automate pricing processes, track performance, and measure results. Examples include Price Intelligently, ProfitWell, Wiser, Prisync, and Voucherify. By leveraging such tools, you gain insights, control, and flexibility in pricing decisions, leading to improved sales growth and profitability.

Na Suiteshare, startup que eu vendi em 2021 para a VTEX eu sempre aumentei os pre?os e nunca me arrependi. Eu cada vez mais me afastava da ideia de que eu vendia uma ferramenta, mas sim, de que eu vendia uma solu??o para um problema. E essa solu??o era a metodologia que eu criei, mais a ferramenta para torna-la possível. Isso muda o jogo. Seu cliente n?o recebe apenas um software, mas sim, o passo a passo para tornar o problema resolvido. Toda ferramenta é bem-vinda, mas nada substitua a conversa com o cliente e com o seu time. Grave reuni?es do seu time com o cliente, entenda a jornada do cliente, grave a tela do seu cliente (Hotjar), pesquisas (must have, por exemplo) escute liga??es e isso te levará a um entendimento melhor

It is interesting that this step is "Pricing and discounting tools..." What is missing is "pricing and increasing tools..." Many think they are going to lose customers if they raise their prices. Hopefully you do. You will get rid of your price shoppers who are also usually the high maintenence customers. You will also raise your perceived value to the rest of your customers and set a new level for future sales. All done without increasing your Gross Profit so it is profit right to your bottom line.

?? Las herramientas y softwares de precios y descuentos son para los negocios lo que los efectos especiales son para las películas: pueden transformar una experiencia ordinaria en algo extraordinario ?? Empresas como Netflix utilizan algoritmos sofisticados para determinar la estructura de precios de sus suscripciones, asegurando que se ajusten a los patrones de uso y a la percepción de valor de los usuarios. ? Utiliza softwares que proporcionen análisis de datos para comprender mejor a tu público objetivo. ? Aplica herramientas que automaticen y personalicen los precios según el comportamiento del cliente. ? Aprovecha la tecnología para realizar pruebas A/B y optimizar tu estrategia de precios.

Know your value. Set prices supported by the value, and that enable achieving business objectives like revenue, unit volume, profit, and market share. If discounting is consistently necessary to meet volume or revenue objectives, re-evaluate your value proposition and market. Discounts may be necessary at times and can be used effectively. Just know what the costs are, and be able to justify how discounts make sense in helping the business, and not just a sales commission.

You don't have to blindly follow your competitors in everything. For example: - their growing prices don't mean you'll be losing potential profit by keeping your prices lower. On the contrary, this might attract new customers to your business and you'll gain more thanks to higher volumes. - their endless discounts might mean they have access to some external funding and can afford cash burning. If you can't, then don't. Otherwise it might lead your business to some serious trouble.

An area missing in this discussion is the value of your sales team to provide input. Granted- poor sales people want you to discount since they mostly sell on price. However, when you interview your top salespeople who sell to your ideal clients, they have a good feel for what is happening in the market and what are the parts of your offering that customers value. I had one sales person who consistently sold higher than our price sheet because he created more value in the customer's eye and did a better job negotiating. Your top salespeople (who are out on the front lines connecting directly with the market) selling to your top 20% will be able to give you invaluable feedback and creative ideas as you consider pricing strategies.