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How to Do Pricing and Packaging the Right Way

Posted on 02 September 2020 by admin (0)

Now that you have a very well established business that is registering a steady flow of revenue from different clients, what next should you be focused on? You might be focused on different areas of business growth such as making new hires and expanding business units. However, one area you need to give a keen consideration is your pricing and packaging strategy. Getting your pricing and packaging right the way tow trucks in Charlotte do can help in creating a loyal following of customers.

At the very basic level, pricing and packaging involve bundling the services together and charging as one price. There is also another common option especially with tech companies which give clients the option of choosing between multiple service packages. Such companies normally present three different packages to a client, with each subsequent package offering more value and equally attracting a higher price.

 

How to package prices the right way

If you use the right steps and process, you should make pricing and packaging to be easy. When you package different prices for your services, prospects will not compare you against the competition. You will give your customers more choices to choose packages that favor and work towards their needs. You will be able to appeal to clients with different budgets and doing so will shift focus from cost to value.

Now that you have a good understanding of how to create three tiers of pricing, there are other issues to be put into consideration before making the ultimate decision. First, start by gathering vital information to narrow down your list of services. Gather as much information as possible on your customers, market, and competition. Doing so will help you determine what services to bundle together and it will ensure you only offer the most relevant services to your market. Listen to your market and speak to your clients and prospects. Engage them in conversation that will help you understand the problems they are facing.

Analyze your business to determine what type of services to combine for your business. Reflect on past projects to have an idea of what worked and what didn’t. Review your past records to have an idea of what services to keep and what services to cut. You also need to research your competition to see what services and packages they offer.

Different Packaging Options

Once you have narrowed down your list, it’s time to come up with your packages. You can bundle services together as doing so will create a more robust and convenient way to offer to your client’s services they would love. The second way to go about it is to package different service levels. Present several packages alongside each other so that you allow clients to choose on three different levels of services. The third way to go about it is to package your service process. This is an often-overlooked method for packaging services. With this method, you make a package on how you deliver your service so as to demonstrate expertise and build trust.