What do you consider to be a bargain?
What is ‘good value’ – buy cheap buy twice?
We are bombarded with offers, reductions, sales, time limited deals, bogof, interest free & deferred payment.
Pricing for the modern consumer is a minefield of pitfalls for the SME. If you pitch a low price quote then you may be perceived as ‘too cheap’, on the other hand charge too much and you may put yourself out of the consumers budget.
Even after you have submitted a competitive quote there could be further ‘negotiation’. We would like a discount. But can we feasibly work for minimum wage, does it make your business viable?
If you truly believe the work/product that you produce meets the standards expected by the client then why do people feel so awkward in their pricing structure reflecting that high standard? Despite researching and obtaining a comprehensive brief from the client and meeting the exact specifications of the proposal how many providers have gulped and lost confidence at the prepared quote?
Preparing and calculating for all the possible scenarios and outcomes is a time consuming exercise and ultimately is comes down to the perception of value in your work. If providers do themselves a disservice then why should the client respect the value of their product?
Image copyright Penny Morgan Photography.