The Power of Price Changes: A Gross Margin Story

Raising prices twice in one year—sounds risky, right? But what happened next surprised us. This simple shift transformed our business.

Here’s what we’ll cover this week:

1. The Power of Price Changes: A Gross Margin Story
2. Productized Services Need a Marketing/Web Team Tied to the Hip
3. The Hidden Cost of Outdated CRM Data

The Power of Price Changes: A Gross Margin Story

As an entrepreneur, I’ve learned many valuable lessons over the years, and one of the most important is understanding the impact of price changes on gross margins.?

In professional services, our largest expense is often our people—talented, emotional, and complex, which makes our businesses fluctuate more than we’d like.?

What’s surprising, though, is how much power we have by simply adjusting our pricing.

Price elasticity, or the idea that demand doesn’t always change significantly when prices go up or down, can be a game-changer.?

Think of gasoline—raise prices, and people still fill their tanks. In the same way, many businesses don’t realize just how much flexibility they have in raising prices without losing customers.

At Get Levrg, we’ve doubled our prices twice in one year—from $500 to $1,000, and then to $2,000—and guess what??

Our lead volume increased, our conversion rates stayed the same, and our sales cycle shortened by three days.?

All we had to do was crank up prices while maintaining our delivery in a cost-effective way.

It’s not just about raising prices, though. Lowering the cost of delivery is equally important.?

By outsourcing tasks like customer support, we free up our team to focus on high-value activities that nurture client relationships.?

The result? A significant shift in our gross margin story, driving both growth and profitability.

Takeaway: Don’t be afraid to adjust your prices—your business might just thrive because of it.

Productized Services Need a Marketing/ Web Team Tied to the Hip

If you’re in the services industry, you know that the future lies in productizing what you offer.?

Moving away from bespoke, project-based work and getting into the recurring revenue model requires services that are repeatable, scalable, and easy to buy.?

But here’s the catch—if you want to build a productized service, you need a web and marketing team working closely with your sales team.

Think of it like this: Sales goes out, pitches the productized service, and shares the outcomes and deliverables that clients can expect.?

But what happens next is crucial.?

The feedback loop between sales, marketing, and product must be lightning-fast.

Once the sales team comes back with feedback—how long it took to close the deal, what objections were raised, or what features clients loved—you need a team ready to act.?

The website copy, videos, pricing models, and even the buying process need to be adjusted quickly. By the next sales pitch, everything should be updated to reflect those insights.

This is why an offshore marketing team can be a game-changer.?

You need a nimble group that can update your site on the fly, tweak the messaging, adjust the visuals, and adapt the pricing.?

Without that level of flexibility, your sales team is stuck trying to sell a product that isn’t quite refined, and that’s going to slow down your progress in building a true productized service.

The takeaway?

If you want to productize your services, you need a team that can move fast and adapt just as quickly as your market does.

The Hidden Cost of Outdated CRM Data

In today’s sales world, there’s no shortage of tools to gather and manage sales data—platforms like Apollo, ZoomInfo, and LinkedIn Sales Navigator, just to name a few.?

But here’s the problem: despite all these tools, the accuracy of the data they provide can be shockingly low—sometimes as low as 40-50%.?

That means half of what’s in your CRM could be outdated or incorrect.

But it doesn’t stop there. Even if your CRM starts off strong, it decays at a rate of 3% per month.?

With people constantly changing jobs, getting promoted, or leaving companies, your database can become obsolete quickly. Over the course of a year, that decay rate compounds, leaving around 50% of your CRM data outdated by year’s end.

So, why is this a big deal??

Because every minute your high-value sales team spends digging through and updating data is a minute they aren’t selling.?

It’s a time vampire—those $5-an-hour tasks that are stealing time from your $500-an-hour talent.

This is why we’re seeing a rise in demand for data enrichment services.?

At Get Levrg, our Sales Data and CRM Optimization service ensures your CRM stays accurate and up-to-date, so your salespeople can focus on what they do best: selling.

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