31 Ways & Drivers to UP Your Prices (Quicker)

The Money Podcast

By Rob Moore

31 Ways & Drivers to UP Your Prices (Quicker)

Thursday, 31 October

A lot of people are undercharging and can very easily increase their prices, jump into this episode of The Money Podcast and discover the 30 tell-tale signs and quick and easy ways that you can utilise right away to increase your prices whilst continuing to grow and offer fair exchange in your market.     Caveat -  You should only increase your prices if the market dictates it and there is an environment for fair exchange. The single best thing you can do to increase your prices is to increase the value proposition first and aim to create a fair exchange environment. Don’t just put up your prices in line with the market rate and inflation. Aim to make your customers lives easier, quicker, better and faster, to solve their pain points. There’s not much of a limit on pricing when you’re providing the right value proposition and create a marketplace of fair exchange.    KEY TAKEAWAYS  30 Signs That Show You It’s The Right Time to Increase Your Prices  When the industry is growing  When you’re in demand and oversubscribed   If you’re not making a profit (You must provide a fair exchange)  If you resent your customers  If you feel you’re too cheap (increasing your prices can increase your market position)  If you’re getting great results (social proof)  If you’re attracting the wrong type of clients  If you’re customer service and complaint costs are too high  Cost inflation and general market price rises  To increase the appreciation of your product or service and reposition you in the market place  Market rules and regulations that can affect your prices, supply and bottom line  If competitors raise their prices  If you improve your product or service  If you’re offering extra value, bonuses or added extras  Making your product more bespoke and personal   If your product is more exclusive and marketable  Your product develops into a service offering and vis-versa  The market place has less competition  The market place has more competition  Potential increase in income and wages  Costs and overheads are increased   If you’re saving your client time and taking away pain  If you’re solving a significant problem for your customer base  Base your price on ongoing and future support and value  Offer added guarantees and insurances  If you disrupt your industry  Making internal changes to increase your product offering   Offering higher quality products/services but to fewer clients   Looking to increase your position in the market  Your story, purpose and the positive change you’re offering your industry    BEST MOMENTS    “There’s not much of a limit on pricing when you’re providing value”  “Aim to remove friction between you and your customers”  “Find your sweet spot in the market between your price and value proposition”      VALUABLE RESOURCES  Rob More - Money    ABOUT THE HOST  Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” and “The Money Podcast” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage.     “If you don't risk anything, you risk everything”     CONTACT METHOD  Facebook - https://www.facebook.com/robmooreprogressive/?ref=br_rs  LinkedIn - https://uk.linkedin.com/in/robmoore1979  See omnystudio.com/listener for privacy information.
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