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Art and Science: Scaling Your Business Through Product Pricing Strategy | AudienceOps

Remember: Nothing’s Set in Stone

Ultimately, you have to set a price. That’s the bottom line (literally).

So if you find yourself waffling and testing and agonizing and questioning, it’s time to just stop and set a price. If you set it too low, your company won’t implode in a week. If you set it too high, your company won’t implode in a week.

Set a price, and then test and measure. Then test and measure some more.

Look at the customer success feedback you’re getting – do the comments indicate an issue with the way you’ve positioned your product for that price? Do they tell you that people expect more for the price? Are you getting feedback that your product’s value is higher than your price (actually a common thing we get here at Audience Ops!)?

If you’re being diligent about updating your pricing as soon as you realize there’s an issue – and understanding that price is just one of the locus points for your product’s success – then you’ll be able to adjust to get to a sweeter sweet spot before incurring any damage.

We’ve adjusted our prices a few times since our launch in 2015, and as our services and company evolve, we’ll probably adjust them a few more times. Nothing is set in stone, and while it’s important to know your price is right, understanding the art and science going into your pricing strategy will keep you flexible – and growing.

Read complete article here:

Art and Science: Scaling Your Business Through Product Pricing Strategy.

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