This week, Per Sjofors, also known as the “The Price Whisperer” ™ joins me on the show to talk about increasing prices while keeping your customers happy.
Before moving to the US in the mid-1990s, Per ran a couple of companies in Europe. After moving, he also ran a couple of companies in the US. Per developed an interest in understanding how the particularities of pricing fits into a company’s growth and margins.
What he discovered is especially important for a company’s growth prospects in gaining the best understanding possible of how customer targeting, product and/or service features, marketing channels and messages, sales channels and methods, and price all interact together.
An estimated 95% of companies today use a simplified cost-based model for pricing their products and services. However, if the actual willingness to pay is included in the calculation, the profit margin can often increase by 25–40%. Sometimes even more!
This means that the price of the products can be significantly improved! Of course, this is based on the fact that the products or services are genuine and offer tremendous value.
Per and I will be discussing some strategies for building value into your product line so that your customers are willing to pay more.
Per even has a free booklet that he is offering specifically to our listeners called “7 Easy Steps to Successfully Increase Prices …and Keep Your Customers Happy. You can download a free copy here.
You can also learn more about his company by visiting https://sjofors.com.
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