Setting Your Price Part 2 - When Is The Right Time For Low Prices? (Episode #132)

In terms of techniques to drive sales, the most common one out there is the low-ball the price. Put it on sale, offer a discount, put out a coupon. And sure, it works. For awhile. Until it doesn't. See, low prices is really lazy marketing. And if you end up relying on it too much, it puts your business into a poor position. That said, there IS a good time to have low prices. There's a specific reason for them - and a specific context to them. In this episode of CBB - and part 2 of our series on setting your prices - we talk all about low prices. The 5 dangers of relying on low prices as your primary sales strategy When the right time is to use low prices Specific " real world" examples of low price strategies being used correctly This is an important episode, because the last thing I want you to do is mislead yourself into thinking you're going to generate a really nice income online on the back of $7 eBooks. :)   Today we are going to go into Part 2 on how to determine and specify what to charge people... How to set your prices. And today, I want to specifically talk about When Is the Right Time to Have a Low Price Point? And this is a really important topic because I find a lot of people really do try to low-ball their price; almost as if it is a crutch, like they are depending on it. Like you can't make sales unless you low-ball the price or if you are giving discounts and coupon codes and things like that. Or I also see people who just instinctually go to low prices because, quite frankly, they are scared to charge anything more than that. And so, we need to talk about this. We need to talk about when is the right time to use low prices and when it is not the right time to use low prices.