Pricing Review

Are your rates where they need to be?  Are you competitively-priced when compared to your main competitors?  On an annual basis, complete a review of your own customer pricing schedules, and compare this with what you know of your competitors’.  Use any conclusions you draw to inform your pricing strategy in the future.  If, for example, your competitors are much cheaper, but do not offer as much in the way of added value, perhaps you could consider a ‘Value’ or ‘Budget’ offering to gain some of this market share?  Once you’ve got a foot in the door and have proven your worth to the customer, you can then look to up-sell your value-add product.