How To Determine Your Pricing Strategy For Clickfunnel?
It is tempting to focus on the big picture of your marketing efforts but sometimes the smallest details of your funnels have the most impact on your bottom line. When it comes to building a killer sales funnel, it is crucial to understand what not to do. After all, all things will greatly affect your pricing.
Planning for pricing strategy for your product and services is one of the tricky parts in setting up your Click funnel. For one, your pricing should stay competitive especially if you have a lot of competitors in the market. Price it too low and your profit margin will suffer. In a highly competitive market, pricing should not rely on just supply and demand anymore. The best way to go about things is to do a methodical study of factors that affecting pricing while remaining to offer competitive prices to your customers.
In this article, we will discuss how to determine your pricing strategy in great detail.
- Study and Know your market
You have to work on a credible and reliable justification for your pricing should you choose to compete with your competitors by lowering your price or if you choose to put a premium in your price because of the difference in quality. How you market your offer is instrumental.
- Determine your costs
List down all your variable costs and fixed costs when preparing for ClickFunnel Pricing. The cost of goods sold is a good indicator of how much a unit of your product or services cost during manufacture or creation. Work out the percentage of each cost to determine how much is spent on a unit if you are offering tangible goods.
For intangible goods, such as services or digital products, calculate the cost of labour and marketing especially if there are individual in your employ.
- Lay out value-based service price
As stated earlier, a value-based pricing strategy is one where your main focus on pricing is the benefits of your product or services and using that as a base for your pricing. Your product may cost $50 per unit but if you consider its value to your market, you may come up with a price i.e. three times more than the cost or more.
Finally, while the above-mentioned steps in creating an effective pricing strategy are crucial to coming up with the optimal price, you have to take great care, Remember to find the right balance and give your pricing more room to breathe especially if you want to account for sales and discounts in the future. Check out here to learn digital sales funnel in great detail.