MARKETING MYTH #4: “By lowering my prices, I’ll strengthen my competitive advantage.”
THE TRUTH: You must bring to the marketplace your strengths, not your need. When you lower your prices, you will…
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undermine your credibility—because potenital buyers will wonder why your services are priced LOWER than your competitors;
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make less money because you won’t be able to gain enough in volume to make up for the income you’ve lost, especially if your work is time-intensive;
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attract clients who are price shoppers, who won’t recognize the value you provide, and who will never be loyal to you!
Instead, be bold… RAISE YOUR PRICES! You can more easily justify why you charge so much than defend why you charge so little.