#45 Pricing in a recession
How do you price during a recession? It’s going to be a difficult time for many people, especially as prices are going up and inflation is at a record high. So how can you effectively grow your business when things are so tough right now?
You have to remember that, although it’s a difficult time for some people, it’s not awful for everybody. And some business owners won’t be heavily affected by the recession. And a recession doesn't mean that businesses aren’t investing in your services - people are still spending.
But I know what it’s like. You want to continue helping people during a recession, but you don’t want it to adversely affect your business. So, in this week’s episode of The Pricing Queen, we’re going to be covering lots of things that will help, including:
- The most important pricing thing to remember during a recession [1:00]
- How to help people during a recession [2:07]
- How to know what to cut (and what not to cut!) [2:31]
- The one thing you absolutely must pay [3:15]
- The starting point for all your pricing structures [3:29]
- What to do when you’re really struggling [4:13]
- Why lowering your prices shouldn’t me your first action and what to do instead [4:19]
- How to reduce offers, not just prices [4:53]
- The importance of boundaries [5:17]
- Package prices and reduced offers [5:36]
- How to offer a reduced price without adversely affecting your business [6:00]
- My top recommendation for pricing during a recession [6:47]
Get help with working out your pricing - http://www.thepricingqueen.com/pricing-calculator.
How to work with me - http://thepricingqueen.com/workwithme.
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