002: Using Options & Anchoring in your pricing

Today I am going to share with you what I know about using options and anchoring in your pricing strategy. If you're not familiar with the terms options or anchoring, don’t worry! I am going to describe which each one is and how they can help you in your business.  Plus, I’ll share several ways you can increase your rates and your engagements with clients. By the way, in the first episode of Pricing is Positioning, I shared 7 tips for creating a pricing strategy. If you haven’t listened to it yet, I urge you to do so. I also touched on pricing options and anchoring in that episode. You can find it here.

In this episode, I’ll cover these topics:

Five different pricing arrangements you can use in your business Why you’re missing out on huge opportunities if you are not using pricing options or anchoring The power of controlling comparisons and behavioral economics Why providing options provides context in the value decision and the best number of options to have Value ladders and anchoring, how they make pricing options seem more reasonable Creating an anchoring and option high sheet

Resources and links referenced:

Take Charge Podcast with Ann Vertel

William Poundstone - Priceless

Blair Enns - Pricing Creativity

The Business of Consulting Workshop - Los Angeles

The Business of Consulting Workshop - Sacramento

The Product Pricing Roadmap

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