Is the Price Right? Why it Pays to Standardize Your Pricing
When it comes to Virtual Office pricing, do you set-it-and-forget-it? Or check and change on a frequent basis??
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Over decades, we’ve learned the following best practices for pricing:?
Standardizing pricing across all channels, including aggregators like Alliance Virtual Offices and your own direct pricing, minimizes the risk of cross channel shopping.?
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Inconsistent pricing from one channel to the next encourages prospects to shop around, exposing them to your competitors. It’s a surefire way to lose sales.?
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By standardizing your pricing, prospects remain connected to your brand and are far less likely to seek deals elsewhere.?
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If you’re eager to attract clients through special offers, we recommend one-time pricing promotions rather than price drops.?
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We’ve found that prospects react favorably to one-time promotions. That’s why we offer monthly reductions on our setup fee, not your product.?
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The problem with dropping the price of your plan means you’ll need to raise it again, sooner or later. Rather than justifying a price increase, it’s more effective to offer a one-time pricing promotion.
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Finally, pay attention to the prices around your center. Prices change, and yours may need to change, too.?
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Carry out?competitor analysis to ensure your pricing remains relevant. Keep a spreadsheet with your competitors’ pricing and track changes, every month at least.?
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This is excellent data that helps ensure your pricing stays fair, yet competitive.?
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Interested in learning more? Contact our Center Support team for guidance on pricing in your area by contacting 888-294-6190 or [email protected].
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