The Price is Right. Or Is It??

Pricing your products and services is both an art and a science. Get it right, and you can secure yourself a profitable future. Get it wrong, and you’ll find yourself without orders and going out of business.

Effective pricing is critical to your business success. It plays a huge role in your company’s viability and health.

To that end, what can you do to ensure that your pricing is on target? The answer:

Leverage Your Website to Test Your Pricing

The beauty of your website is that you can make adjustments quickly in order to test multiple pricing scenarios, and fully track, measure and analyze the data to see what pricing works most effectively for your business. For example, the following are possible testing elements:

  • Primary offer price
  • Pricing for bundles and package deals
  • Pricing for upsells
  • Pricing for cross-sells
  • Percentage discount
  • Dollar amount discount
  • Membership discount
  • Membership privileges
  • VIP options
  • Discounts for large purchases
  • Subscription models
  • Free shipping offers
  • Headline on the pricing page
  • Images on the pricing page
  • Calls to Action (e.g., “Buy Now” vs. “Add to Shopping Cart”)
  • Limited availability offers (e.g., “Offer good until Saturday”)
  • Billing options (e.g., “Bill Me Later”)

Remember, the specific product or service price is merely one variable in pricing. Test multiple variables until you achieve the audience demand and the profitability mix that will fuel your business growth. And given the web’s flexibility, you have the advantage of leveraging your website to fine-tune and fine-tune and fine-tune some more.

These are just a few suggestions to help you leverage your website to drive your revenue growth. If you need additional help, let me know below. Thanks!

Previous Article
startup mistakes


Next Article

What To Do If You Get Audited

Related Posts
Read More

How To Make Your Startup Bankable

You’ve probably heard it countless times: “If you fail to plan, you plan to fail.” While it’s always a great idea to think about your long-term personal goals, this adage is even more applicable if you’re venturing into entrepreneurship. Smart planning can go a long way in making your startup bankable. The U.S. Bureau of...
startup success
Read More

How to Achieve Startup Success from Day 1

The decision to take the leap into starting your own business is never an easy one, regardless of your experience or industry. But as venture capital (VC) firms grow, with the average seed deal growing from $1.7 million to $4.6 million in the last decade, more and more people are breaking into the startup ecosystem....
wjr business beat
Read More

WJR Business Beat: E-Commerce Falls Short of Consumer Expectations (Episode 326)

On today's Business Beat, Jeff Sloan talks about why success as an online business isn't a trip down easy street. Tune in to the Business Beat, below, to learn more about two new studies that show consumers aren't all that thrilled with their online shopping experiences.   Tune in to News/Talk 760 AM WJR weekday...
second-time startup founders
Read More

5 Real Advantages for Second-Time Startup Founders

As a first-time founder, starting a startup is incredibly difficult. Raising capital, finding product-market fit and acquiring customers isn’t easy. As a second-time founder,  it is a bit easier.  After our first company was acquired, I knew that I wanted to start another company. Working for yourself, especially during the earliest days of founding at...