How to Correctly Price Your Business’s Products or Services

by | Aug 19, 2013 | CRM, Customer Self Service, Customer Support

Setting prices for products or services is complicated. There are many factors to consider. If you set your price too low, you won’t make as large of a profit as you could. If you set it too high, it may not sell at all. Lots of business owners select prices by looking at their competitors’ prices or even by choosing a random number. Fortunately, there is a formula for choosing prices that has been proven to work, which considers annual income, projected sales, along with other factors. It’s important to remember when you are setting prices that you have two basic types of customers: customers that focus on value and customers that focus on price.

Customers that focus on price buy from you because of the price that you set. They are simply interested in paying as little as they can for the product or service. Certain businesses will do well by focusing on appeasing this type of customer. Yonyx enables organizations to create multi-media flowcharts that replace the experience of getting help from a call center agent with interactive self-service.

 Customers that focus on value buy from you because of the quality of the product or service that you offer. They still consider price, but it is not as important as the quality of the product or service. This type of customers is also interested in receiving high quality customer service. Develop a creative customer support attitude in order to hold good customer experiences.

Yonyx enables organizations to generate creative customer support, good social CRM and customer experience that provide customers an interactive self-service experience similar to interacting with a live Agent customer support analyst.

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