How Much Should Your Charge For Your Product or Service | Ep. #685
Marketing School - Digital Marketing and Online Marketing Tips
In episode #685, Eric and Neil discuss pricing. Tune in to hear how you can figure out the right price for your product or service.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: How Much Should Your Charge For Your Product or Service
- [00:40] How does one settle on pricing for a product?
- [00:48] Neil completely made it up. There was no logic behind his pricing.
- [01:35] If the market for your product is saturated, compare yourself to your competitors.
- [01:55] You can charge the same or more if your product is comparable.
- [02:20] Make sure you are price-matching or charging just under your competitor’s rates.
- [03:35] Price Intelligently is a great resource.
- [04:00] @Patio11 is a pricing nerd, who has written great posts about pricing products.
- [04:35] As yourself what price is too expensive and what price is so low it would make you question the quality of the product.
- [05:12] Crazy Egg has a partner that helps you chart out your rates.
- [05:50] Never take advice blindly, always run A/B tests.
- [06:51] Pricing is the biggest lever that you can pull.
- [07:04] Some companies adjust pricing as often as four times per year.
- [07:15] Do your due diligence and go with what seems right.
- [07:28] Domo is valued at $2 Million, but there are comparable products that are worthless. Why?
- [08:27] That’s it for today!
- [08:33] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
Leave some feedback:
- What should we talk about next? Please let us know in the comments below.
- Did you enjoy this episode? If so, please leave a short review.
Connect with us:
Learn more about your ad choices. Visit megaphone.fm/adchoices
See omnystudio.com/listener for privacy information.
Available Results
Generated results are saved to your library for reuse and search.
Choose Template
Pick the result you want. You can review provider and model before generating.
A concise first-pass summary for understanding the episode quickly.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Technologies, AI models, technical methods, capabilities, limitations, and adoption implications.
Repeatable methods, frameworks, mental models, processes, and systems.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.
A dedicated inventory of concrete resources named in the episode.
A concise first-pass summary for understanding the episode quickly.
A detailed readable summary organized by chapter or topic.
A navigable map of subjects, topic flow, and suggested chapters.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Reusable atomic knowledge units extracted from the episode.
A comprehensive extraction focused on health practices, protocols, claims, and safety caveats.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Explicit actions, next steps, habits, recommendations, and things to avoid.
A dedicated inventory of concrete resources named in the episode.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.
A concise first-pass summary for understanding the episode quickly.
A detailed readable summary organized by chapter or topic.
A navigable map of subjects, topic flow, and suggested chapters.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Reusable atomic knowledge units extracted from the episode.
A comprehensive extraction focused on health practices, protocols, claims, and safety caveats.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Scientific findings, mechanisms, studies, hypotheses, and the limits of the evidence discussed.
Technologies, AI models, technical methods, capabilities, limitations, and adoption implications.
Investment theses, assets, catalysts, valuation reasoning, time horizons, and risks.
Chronologies, actors, causes, consequences, turning points, and competing historical interpretations.
Policies, proposals, stakeholders, arguments, implementation constraints, and predicted effects.
Career paths, skills, hiring signals, workplace decisions, transitions, and limitations of the advice.
Behavioral mechanisms, biases, motivation, habits, emotions, interventions, and evidence limitations.
Economic mechanisms, incentives, indicators, market structure, forecasts, and uncertainty.
Leadership principles, team systems, organizational design, culture, feedback, and failure modes.
Audience, positioning, messaging, acquisition, retention, experiments, metrics, and failed approaches.
Teaching methods, learning strategies, practice, feedback, assessment, and effectiveness evidence.
Theses, premises, arguments, objections, values, thought experiments, and unresolved questions.
Communication patterns, conflict, boundaries, expectations, repair methods, and contextual limitations.
Books, papers, authors, courses, and other learning resources mentioned in the episode.
Repeatable methods, frameworks, mental models, processes, and systems.
Explicit actions, next steps, habits, recommendations, and things to avoid.
Memorable statements and important claims with attribution and source context.
A dedicated inventory of concrete resources named in the episode.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.