How Much Should Your Charge For Your Product or Service | Ep. #685

In episode #685, Eric and Neil discuss pricing. Tune in to hear how you can figure out the right price for your product or service. TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: How Much Should Your Charge For Your Product or Service [00:40] How does one settle on pricing for a product? [00:48] Neil completely made it up. There was no logic behind his pricing. [01:35] If the market for your product is saturated, compare yourself to your competitors. [01:55] You can charge the same or more if your product is comparable. [02:20] Make sure you are price-matching or charging just under your competitor’s rates. [03:35] Price Intelligently is a great resource. [04:00] @Patio11 is a pricing nerd, who has written great posts about pricing products. [04:35] As yourself what price is too expensive and what price is so low it would make you question the quality of the product. [05:12] Crazy Egg has a partner that helps you chart out your rates. [05:50] Never take advice blindly, always run A/B tests. [06:51] Pricing is the biggest lever that you can pull. [07:04] Some companies adjust pricing as often as four times per year. [07:15] Do your due diligence and go with what seems right. [07:28] Domo is valued at $2 Million, but there are comparable products that are worthless. Why? [08:27] That’s it for today! [08:33] Go to Singlegrain.com/Giveway for a special marketing tool giveaway! Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.