Letters From Dan

No one wants to make a pricing mistake. Small business owners often have to order pricing labels so getting it right the first time seems crucial. Lately I’ve gotten some questions about how to price things, both products and services.

Fortunately, yes I say fortunately, there are no rules. That holds true especially if you provide a unique service or one that requires a great deal of expertise. However, if you’re offering the same service or product someone else is then you’ve got something concrete to look at.

Make sure everything you do results in actionable information. One of the big survey marketing mistakes is asking questions no cares to know the answer.

Honestly, I would love to stop that here. That alone is all you need to keep in mind moving forward. But a picture with color is so much easier to imagine. Here are a few examples of actionable information that should clarify this discussion.

The Survey Question

You’ve surely taken surveys that ask your age, income and marital status – have you not? I have too, several times and I’m eager to give that information. But I wonder, and I hope you do too, what are they doing with that information?

When you ask survey questions to your audience, role play the answers that might get returned. Suppose 65% said they were male and 35% female? What would you do? Suppose it was 50/50 or the reverse, would that change your marketing in any way?

One of the biggest survey marketing mistakes is failing to understand the value of the information.