That’s a common belief among business owners.
Is it true?
That isn’t the case for Ron Ameln, the owner and publisher of St. Louis Small Business Monthly. Here’s what he said. “I told my advisory board that I wanted to raise prices. They told me that I was in a dying industry and raising prices would only accelerate my company’s demise. I raised my prices 5% and revenues grew by 8%.”Read More
When you lower your customers’ risk…
…they’ll reward you with higher prices.
Jane Porter, in a May 23, 2011 article for Entrepreneur, highlighted the great comeback story of GovernmentAuctions.org. What can we learn from this incredible story?Read More
A professional recently told me that he’d merged his firm with a larger firm. Then he went on to say that he’d sent his clients a letter stating that the fees they’d be paying would be 10% higher than they were prior to the merger. What was the rationale for this move?Read More
A Lesson from Panera Bread Co.
In my February 28, 2011 post, Buying Customer Loyalty, I railed against reward programs. One restaurant chain, Panera Bread, has proven my point via the type of rewards it offers. Yes, I have a Panera card. I’m not above taking discounts offered even though I don’t advocate discounting to my clients.Read More
…or another marketing gimmick?
Hyundai recently announced a trade-in guarantee. Buyers of a new Hyundai will know immediately what trade-in value they’ll receive on their next purchase. Sounds great. Is it as good as it sounds? Let’s see.Read More