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Do People Know Your Value or Just Your Price?

by | Jul 29, 2021

“Prices Change, Mate”. That’s what the guy in Richmond train station said to me on Saturday when I said that a single ticket cost 50p when I first moved to London.

I was visiting friends in Richmond and had just handed over a small fortune to get into the centre of London. Indeed, prices change… and they tend to change in just one direction. The only way is up, as Yazz once sang. It’s a part of life but it’s not always the same in business.

“Ooh, we mustn’t put up our prices.”

“That would almost be rude…!”

Joel and I were talking to one new client last week and it turned out they were charging the same amount as they were five years ago. FIVE. Our first piece of advice was simple and didn’t require our 40 years’ marketing experience:

“Put your prices up.”

“But that will make us more expensive than a lot of our competitors.”

Good. There’s no money in the middle.

Value-Based Marketing

If your marketing conveys VALUE, price is less of an issue. Price and value are two different things. Your ideal customer will know that. They want value. People who buy purely on price will be off like a shot when someone cheaper comes along.

Prices change but people stay the same.

So, does your marketing convey value? Which will attract the right customers, enabling you to charge more and continue to charge more because they put you above your price.

Or do you sound the same as your competitors, which means the decision will come down to pounds and pence?

You Can’t Afford Not To Do This

The easy test is to look at a piece of your marketing, like a webpage, leaflet or ad – then swap your logo for a competitor’s.

If no one would notice the difference, it’s time to re-think your marketing. Joel and I will be happy to hop onto a no-obligation Discovery Call.

Stay safe, stay hungry.

Codebreak - Stay Hungry - Direct Response Marketing

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Andy and Joel, co-founders of Codebreak