Premium price strategies go beyond establishing a price, they require:
- A clear brand promise – something that customers value and trust.
- A psychographic profile of your ideal customer – otherwise your marketing and sales efforts are unfocused.
- Positioning statements that highlight what your customers value enough to pay a premium price to get.
- Sales scripts that convert benefit statements into dollars and cents value.
- Bundling and pricing that afford your customers options while enhancing your margins.
If you’re wondering whether developing a pricing strategy is worthwhile, check this out.