In this episode of Practice Growth HQ, I continue my fascinating conversation with pricing expert Janene Liston about the psychology of pricing.
Janene is a highly trusted pricing consultant and business coach working with small businesses, startups and entrepreneurs, across industries and across the globe.
She is a certified pricing professional, who’s been helping businesses improve pricing and profits for over 25 years.
In this episode we discuss how consumers behave around certain numbers, how much notice you should give patients when you raise your prices, as well as how to communicate a price increase clearly and effectively.
If you’re waiting for permission to raise your prices, you’ll love part two of this conversation!
What you’ll learn:
- (02:09) The psychology behind the numbers in your prices and how they influence consumer behaviour
- (06:45) Janene shares ‘when’ and ‘how’ you should raise your prices
- (07:40) Discover the importance of setting, getting, and managing your prices
- (13:05) Janene dives deeper into how to effectively manage your pricing
- (16:21) How much notice should you give your patients when you raise your prices? Janene shares her thoughts
- (18:22) Learn how to communicate your price increases clearly and professionally
- (22:36) Discover the most common excuses business owners use for not raising their prices
- (24:03) Find out when the best time is to raise your prices
- (27:01) Profit impact calculator: The dramatic difference a 10% increase or decrease in pricing has on your bottom line
- Plus loads more!
Links and Resources: