Pricing your Products or Services Profitably

by Joseph Norcott

Previously we discussed the first three keys to the formula of setting your Price so you can earn the profit you desire.  these are from the book: “No B.S. Price Strategy” by Dan Kennedy and Jason Mars

Let’s get right into the last two keys to the formula but my no means the least important…..

Unique Safety/Guarantee Proposition (USGP)

You need to provide a guarantee which is a risk reversal.  Use a risk-reversal of your money back or a risk-reversal plus of double your money back with support of your years in business, peer-proof testimonials or client lists.  This gives a comfort level to the prospect.

If you can’t guarantee it, risk reverse it, provide reassurance, SOMETHING – then change what you do…doesn’t have to be on performance, can be on experience…

Unique Experience Proposition (UEP)

This is the newest proposition where people want to know that they will have an experience which is a rival to none other.  In this New Economy it is the hidden value that you want to address which gives them the feeling that only with your product or service and no other you will have a great experience. 

Could be an employee that buys a product or service that assists the business where they are employed.  They get recognized by the owner and a  job well done by his or her immediate boss. 

A consumer goes to an Asian, Italian, Lebanese or Irish restaurant and experiences the cuisine and entertainment like they are in a far away land.

This is the BIG one and DIFFERENT from what you’ve ever heard before.

You have to make the EXPERIENCE tangible, visible in their minds…stories, testimonials, explanation…paint the picture, show and illustrate and talk about THE EXPERIENCE of your product or service.  You want to have the customer see and experience it.  It is the one key step in making a relationship with the customer that they feel provides a TRANSFORMATION to them.

Standout, be Unique and you’ll get the price for your product or service you deserve.

Leave a Comment

Previous post:

Next post: