I am thrilled to kick off a week-long series about pricing in small business with an interview with John Jantsch of Duct Tape Marketing. John is a well-known authority on small business marketing who has a very popular blog and speaking platform.
Despite his solid business background and decades of experience, the thing I like best about John is that he absolutely walks his talk. He is extremely grounded, kind and generous with his knowledge.
Listen to the 30-minute interview here.
Some of my favorite parts of the conversation:
- John says: “Price is a terrible place to compete. There will always be someone willing to go out of business faster than you.”
- There can be a backlash if you price your services too low, because your customers might think there is something wrong with you if you charge below the market, or that you cannot deliver the value promised in your offer.
- “If people keep saying ‘gosh, you are too expensive!’ all that means is that you are not doing a good enough job educating them on why you are different.”
- Measure the results of your efforts by following up with your clients to see what value you produced by working with them. This can give you fantastic data, case studies, testimonials and a strong foundation for setting your pricing.