Scott Manning
By Scott Manning
Manning Methods, LLC
It really is that easy. If you want to dramatically increase your profit, charge more money for what you are already doing. This method, probably the most recommended and insisted on by Top Business Consultants, is the single most effective and easy way to get you on the fast track to profit and a soaring Gross Revenue.
Three Methods:
1) Start today, change all your prices and sell your next client at the new higher price point – they’ll never know the difference.
2) As you add new clients, gradually increase prices across the board until you reach your desired amount.
3) Implement a “Price Increase” campaign where you offer some sort of benefit toward current clients – a sort of compromise to make their dollar value to your company greater while at the same time increasing your price for all new customers or clients.
Before you implement this, ask THREE questions:
1) Are your current clients happy with the service you provide?
2) Do you do everything possible to OVER-service your clients?
3) Are you confident in the value and benefits your firm provides?
The only condition on this method is that you really are worth what you’re asking. I’ll never forget what I learned when I first set out in sales – you can never charge more just because someone makes more income, but you can always charge less if someone makes less income. You wouldn’t say to someone, “The price is $100, but since you’re a doctor, I’d like for you to pay $1000.” On the other hand, you could certainly say, “I understand your situation Mrs. Smith, I am happy to help you under the circumstances. Why don’t you pay $50 now and $50 later. …”
You can always modify terms or (although not recommended) give discounts, but you can never increase the price because of someone’s status or profession.
If you take two firms in the same industry, who basically have the same overhead (in the same market) and one charges twice as much as the other, the firm charging twice as much makes twice as much.
Why it pays to be
the Premium Provider.
If you really are sincere about the benefits of your product or service and you really want what is best for your clients; you have a moral obligation to provide them with the very best service — greater service than they expect for the amount they pay. And this is only possible when you are charging enough to have enough resources to provide the service your clients deserve. You must never short-change your clients, whether you charge less or more; it’s just much easier to over-service when your customers are paying you for it.
Ask yourself, can you honestly service clients effectively when you are worried about the few extra dollars you should have collected or are discounting so much that you resent the transaction? Really, it is obvious in our society, PRICE determines PERCEIVED VALUE – more and more people look for the BEST of something, determined of course by the price.
IMPORTANT CLARIFICATION
If you implement this method, find out what all your competitors charge, then price at 10% or so above them…you’re in trouble. The point I want to make here is three fold:
1) You’ve got to be different, BETTER, than your competitors.
2) You’ve got to provide exceptional service and quality.
3) You’ve got to then price yourself at a premium, 20, 30, 50% more than competitors.
Scott Manning
President, Mannning Methods, LLC
317 407-3382
sj@manningmethods.com
