Boston, MA (PRWEB) December 5, 2003
Most small businesses undervalue themselves and donÂt charge enough. WhatÂs more, this can be very dangerous to a businessÂ bottom-line, since pricing is also a strategic marketing image tactic. Businesses can find answers to this problem inside a newly released downloadable report called, ÂHow to Increase Prices without Irritating Customers,Â written by Sharron Senter, marketing consultant & author.
ÂThere are two common reasons why many entrepreneurs undercharge,Â said Senter. ÂOne is fear, and the other is that they don't realize the value of their services and products upon the launch of their business. However, after being in business for a while, entrepreneurs have more time to learn what their competition is charging and what the marketplace is willing to pay, which is usually more. Thus, many small business owners are very frustrated with their pricing. WhatÂs more, itÂs a myth that you canÂt raise prices in a down economy,Â said Senter.
Senter offers the following tips when increasing prices:
Tip 1 -- DonÂt drone on with unnecessary explanations, and certainly donÂt give details about your personal life and why you need more money. This is unprofessional and makes customers feel uncomfortable. In most instances, customers wonÂt tell you theyÂre uncomfortable; theyÂll simply stop doing business with you.
Tip 2 -- DonÂt attach rules to pricing increases. Customers wonÂt remember the rules and such a policy is awkward.
Senter recommends that before increasing prices, itÂs important for business owners to feel confident about their new pricing. ÂThereÂs nothing more destructive to a businessÂ pricing strategy and the bottom-line than feeling insecure about your pricing,Â said Senter. ÂCustomers will pick up on your insecurities, causing them to question whether youÂre Âworth it.Â LetÂs face it; if you question your pricing, why wonÂt your customers?Â
The 10 page report, ÂHow to Increase Prices without Irritating CustomersÂ retails for $17 and can be purchased and immediately accessed at http://www.sharronsenter.com/fs.htm
ABOUT SHARRON SENTER
Sharron Senter is the founder of sharronsenter.com, a US-based, Merrimac, Mass. marketing firm that specializes in helping small and home-based businesses deploy affordable online and offline marketing strategies.