Don’t worry, customers will pay the price.
I hope as you read through the site, you are able to see how these principles will drive growth, but some fear may be starting to creep in. You may be thinking, ‘I cant do it all or if I do this my product will be too expensive.’ Do not be concerned, examples have verified that customers will be willing to pay the price. The price may be an actual price or some area where you choose not offer service, but if you do these other things customers will be willing to pay that price.
The fact of the matter is that virtually everything costs something and a company simply cannot be all things to everyone without some sacrifice. The keys is to recognize what the cost is that you are going to make your customers pay and be honest about it. Look at Southwest airlines, the cost that people have to pay is no assigned seating, no first class, no meals, and no entertainment, but they do it right. They don’t put some poorly thought out solution out there and pretend. They are very open about the costs you have to pay to get everything else they have to offer. Or consider Apple what is the cost? The cost of their product. Your pricing may be the cost you ask your customers to pay.
Obviously, there is a lot more to pricing, but if your vision is the same as your customers, your deliver on your vision via your brand, and you are open and honest in communicating, customers will be willing to pay the price.
Three Reasons
1. There is a cost to everything
2. Attaches value to your product
3. Prioritizes what is important