By Jay Lipe
Many service firms see their prices as a financial tool. But I'd say your firm's prices are also one of its most potent marketing communications tools. Consider for a moment that your firm's prices perform all these marketing communications tasks:
- Qualifies a buyer's interest.
- Defines your firm's competitive set.
- Differentiates your firm from its competitors.
- Properly (or improperly) positions your firm in buyers' minds.
- Acts as an instant closing device for the sales force.
Pricing As A Closing Device For Sales
Picture this scenario: Business development executives from your firm have entered the final throes of a face-to-face sales meeting. The potential buyer asks, "And what do you charge for this service?"
How you put forth your prices at this critical juncture determines, to a large extent, the success or failure of your sales close.
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