This week, PROFIT Magazine — one Canada’s leading business magazines — published a great article on the importance of pricing strategy for small businesses. Written by John Lorinc, the article illustrates why it’s so important for companies to be able to articulate the value of what they’re selling. It’s our pleasure to say that a case study on Distility is featured in this piece.
3 Pricing Strategy Tips Found in PROFIT Magazine
- Clearly articulating to customers the differences between your products and those of your competitors will help you price according to the true value of your products, and not according to your competitors’ pricing
- When using a value-pricing strategy, companies in the service, technology and B2B arenas need to be sure to ask themselves what their customers will save going with them, what the costs of delivering will be, and what customers are able to pay before setting their prices
- Smaller firms can often benefit from bundling products with service contracts
Why Branding Benefits From Concrete Pricing
Pricing branding with fixed numbers can be extremely important. The reason for this is that people often need a great deal of transparency when purchasing a service that requires consulting. In the case of branding, it’s crucial for customers to know exactly what they are getting for what they pay. To our delight, Distility has been featured in PROFIT for our ability to use a fixed-price model to help customers know the ins-and-outs of what they’re buying. Read the full article, or check out the Distility case study here.