How to Double Your Profits Overnight!
Andrew Wood
World's Leading Expert on Golf, Resort, Real Estate & Destination Marketing. Author of over 60 books, Consultant, Professional Speaker and World Traveler
Optimum pricing is quite simply the quickest and easiest road to marketing success, yet it’s very often the least-used and least-tested strategy.
This is because optimum pricing often means raising prices and this raises the FEAR FACTOR!
After all, if you don’t have enough business now, how can you possibly get more business by increasing what you charge? It’s an argument that seems to be based on solid logic yet, time and time again, this logic is proved to be wrong when actually tested!
Ask three business owners how they determine their pricing and you’ll get one of these three answers:
Here’s what you won’t hear:
We have tested our pricing and it’s the optimum combination of volume and price!
or
We price based on the amount of profit we want to make in relation to the amount of effort we want to expend.
What’s the difference between a $100 an hour dentist and a $200 an hour dentist?
A $50 watch and a $150 watch?
A $300-an- hour attorney and a $400-an-hour attorney?
领英推荐
In almost every case, it’s not about quality — the difference is about 100 bucks!
When doing seminars for golf teaching professionals, I always ask what they charge for a one-hour lesson. Usually, this ranges from $40 to $150 and everywhere in between. So I take the first guy who charges $40 and the first one who charges $80 and ask the $40 person if the other pro is, in fact, twice as good at teaching as he or she is.
They never say YES!
The same is true with green fees, hotel rooms, and consulting. In fact
It’s the same with every other type of business, profession, or product I deal with. In almost every case the guys who get more for their product or service are simply the guys who decide to charge more!
Why many people will pay more is an article in itself. Some of the reasons are that people don’t care about a few dollars more, they like you, you’re convenient, or they think you’re better if you charge more!
Everyone thinks their market is different. Everyone thinks their economy is worse, their customers cheaper, and their competition stiffer than anywhere else. Yet there is always someone in every market who charges far more than anyone else — and gets it!
Why not let that someone be you?
65-Years of Experience in Golf and the Golf Course Industry in North America
3 年Andrew, You're pretty well on the money. I've been there. I mean down on the sidewalk where it all actually happens. I know the decisions cannot always be made from a desk on the 10th floor. Mike Kahn, Golfmak, Inc. In golf since the mid-1950s.