7 pricing techniques for professionals and service companies

If you want to sell products or services frictionlessly, 365 days a year, you need to master some pricing techniques.

How many digits should your prices have? How high should they be?

These are some of the questions you should ask yourself if you want to m nepal phone number list aster the art of setting prices, so that your potential clients keep coming to your business or venture.

Rafi Mohammed, who is a seasoned pricing strategy consultant, told a Harvard Business Review team that it is entirely possible to make smarter, more informed pricing decisions if you understand how pricing interacts and what demand it experiences in your own business.

 

Before we get into the topic of pricing techniques that any professional or service company must master in order to succeed, we would like to delve deeper into this concept.

Pricing can be defined as the process of determining the value of a product or  eurocloud spain awards the four best spanish cloud projects of 2012 service and encompasses the decisions that must be made during the process.

Pricing is not impulsive; or at least it shouldn’t be in any sense.

In fact, pricing psychology does exist and is really useful and bz lists  significant when it comes to determining the value of your product or service.

Pricing techniques that will boost your sales

Below we present seven pricing techniques that will boost your sales, regardless of whether you sell products or services:

1. Display prices in small fonts
There is a false belief that prices must be exaggerated or highlighted to attract attention.

But the truth is that consumers or clients often equate visual size with numerical size.

That’s why it’s crucial to use small fonts. Research has shown that customers who are presented with very large price sizes tend to equate them with something big.

Here we share an example with you:

 

 

The bigger the size, the higher the price? That’s a myth, but you should still know that this is how your customers perceive it on a psychological level.