You have to think about your pricing strategy from the beginning of your business. Once you set a pricing strategy for your services, you won’t be able to change it very easily.
Clients depend upon a reliable pricing structure and will resist if and when you decide to change it. You can’t change your pricing strategy dramatically or you may lose clients completely.
What Increases Should You Use?
If you increase more than five to fifteen percent, you will probably get really negative responses from clients. If you intend to make a significant change in your pricing strategy, you will probably have to think about replacing clients entirely.
If you really need to make a change in your pricing strategy in order to stay afloat, you will have to find new clients that are willing to be brought on at your new rate. You will also face probably $500 to $1,200 in client acquisition cost.
Start Right from the Beginning with Your Pricing Strategy
Instead of facing a great deal of costs, you are better off starting off with the right pricing strategy so you can pass along minor increases gently and keep clients for the long term.
The Main Idea of Pricing Strategy
Pricing strategy is a critical component from the very beginning of a consulting business and will affect the long-term success of your business. Choose your pricing strategy well from the beginning and avoid attracting the wrong type of clients.
Added By: Computer Consulting Kit
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