I learned something useful about pricing yesterday! In my Danish biz-class, the teacher shared the pricing-formula that she found in the book “80/20 Sales and Marketing” by Perry Marshall. It is about how to apply the Pareto Principle in business.
I haven't read the book yet, but I'm happy that I found a formula that tells me what range of prices to offer!
So, here is my product ladder picture, this time with a pricing formula that I'm going to apply!
What I like about it is that it is true value pricing (I think. Correct me if I'm wrong). You FIRST decide on the price point, and then design your services so they fit the formula.
Of course, you can be flexible and adjust the price depending on the client.
I'm curious about if this works for your business, too. I think it works best if you have a specialization with a core offer that is at the center of your business. From here you can scale up and down.
If you're struggling to decide on a specialization, you're welcome to book a
Find Your Niche session. It really works, I have tried it out many times in my business storyboards!
Happy pricing! Let me know how it goes.