Do you know if the price is right?

SMALL BUSINESS TIPS

How To Set Your Prices Right

In today’s economic climate, pricing matters more than ever.

Here are Harvard B-School’s suggestions to help you drive more revenue and offer better value for your customers:

• Tiers Reduce Fears - Provide customers with several product or service options at different price levels.

• Keep the Fire-Sale Burning - Show the original base price, put a slash over it, and add the lower price to show the discount.

• Break it Down - Subscriptions or installment options are often more attractive and friendlier to pocketbooks than larger, one-time payments.

Other classics are “buy one, get one” (BOGO) and charm pricing (setting prices ending in 99). They’re tried and tested, so keep them in your consideration set.

Why it matters:

• The price of your products and services should align with the current economic climate. Consider how you might price strategically to add value for your customers at this particular time.

For the full Harvard Business School article on pricing strategies, here's the link (2-min. skim).

DIGITAL DIVE

Is Your Website Captivating and Contemporary?

It speaks volumes about your brand, so be sure your website doesn’t feel outdated.

Entrepreneur shares some insights on how you (or your designer) can assure you have a tasteful and effective website. Here are a few modern takes to keep you fresh:

• Just My Typography - Fearless fonts are hot. Consider bold and beautiful lettering that people can identify immediately as your brand identity.

• Tall, Dark, and Gradient - Futuristic and dramatic color-gradients with a play on neon (yup, neon) are currently vibing and can add a stylish, modern feel to your brand.

• It’s Alive! - Motion effects are far more common and expected these days, and they add fun and dynamic elements. Users love interacting, so consider accenting with animation.

Why it matters:

• Web design trends evolve. Be sure to incorporate updated styles (that suit your brand, of course) to avoid looking dinosaur-ish. It’s like keeping the paint and decor of your shop fresh and clean. Your customers will appreciate it. And respond to it.

For the full article and a cornucopia of cool sample websites to peruse for ideas and inspiration, check out the full article (2-min. skim).

STORYTELLING STRATEGIES

Your Customers Want You To Tell Them A Story

Stories are a powerful way to reach your customers – here’s how to be sure you tell the right one.

Since the beginning of time, stories have been one of the most effective forms of communication. Top businesses like Apple, Dove, and Harley-Davidson have long used storytelling to create emotional connections and generate conversation.

Your company has a story, too, and your customers are eager to hear it. You’ll know when you’ve found one worth sharing if it meets the following criteria:

• Is your story honest and authentic?

• Does your story offer a unique perspective on your brand?

• Is it aligned with your values and the values of your customers?

Like a good book, take your time with this one.

And for more tips on using storytelling to enhance your brand marketing, here’s a helpful link (2-min. skim).