Unbundling your service to lower your price
When you have to bend on the price you quote a client, be sure you first list the things you do for the client for that price. Then, when you lower your price in order to respond to the client’s request (based on your competition), take some of those things off the table. Thus, you are not really “lowering the price.” You’re adjusting the price to fit the appropriate level based on the service to be delivered.
What, you might ask, are the components of an hourly fee? Well, how about returned phone calls within 2 hours. That’s now part of your regular hourly rate. Thus, if you lower your hourly rate in response to your client’s request, take that response time off the table … tell the client that your response time will be 24, or even 48, hours. He’ll get the point that he’s not really lowered the price, but changed the value composition of what he’s buying.
The analogy is buying a car at the base price vs the same car with options at a higher price. You’ve merely unbundled (the current fad term) your services.Tags: Marketing
Categorized in: Marketing