Too often, marketers consider only the promotional choices (advertising methods, marketing collateral, etc.) when building a marketing strategy. We all know that you need to nail down a target market, a message, and a way to reach reach them. However, there is a great deal more to a solid marketing plan. Here are five elements…
Tag: Pricing
Should You Raise Your Prices? Here are 12 Powerful Indicators
Recently, a colleague and I were discussing various kinds of pricing structures, and this spurred a conversation about the kinds of situations in which a company may need to raise or adjust prices. In fact, a price change flows directly to the bottom line, and can have an enormous impact on a business’ profitability. So,…
Should You Create a Loyalty Program?
Are you hoping to turn occasional customers into more steady, loyal repeat buyers? Perhaps you are already giving some thought to creating your own loyalty program. …
Contingency-Based Pricing
Is “Skin in the Game” a Good Pricing Strategy? Contingency-based pricing refers to a price based on taking a share of the results provided. It’s usually set as a percentage of the value, especially when that value can be easily quantified. For example, personal injury lawyers often will work on contingency because the winnings in personal injury…
Tips to Market in an Economic Recession
Too often, when businesses are facing difficult times the first thing they do is cut from advertising and marketing spending. Studies have shown that in previous recessions the businesses that continue to invest, not only grow through recessions but capitalize on the eventual recovery….
How to Raise Prices
If you are considering raising your prices, then the question quickly becomes, how? How do you raise your overall prices without losing customers, or making them upset or angry? Many businesses put off price increases for so long, they can never get them to a profitable level, damaging their ability to remain viable. Raising prices can…
