If we discount our customers then we're actually
Posted: Sun Jan 19, 2025 5:24 am
We're going to go through each one of them as quickly as possible, but at the same time, hopefully you'll walk away with some good ideas. Some of these are ones that it might at first feel a little bit awkward, but just follow me. 1. Raise prices The first rule, number one in Let's Make Money is raise your prices. Now, I remember quite clearly two years in to my job at Hive Digital — it was called Virante then — and we were talking about raising prices.
We were just looking at our customers, saying to ourselves, "There's no list of luxembourg consumer mobile number list way they can afford it." But then luckily we had the foresight that there was more to raising prices than just charging your customers more. How it benefits old customers The first thing that just hit us automatically was... "Well, with our old customers, we can just discount them. It's not that bad. We're in the same place as we always were." But then it occurred to us, "Wait, wait, wait.
increasing our perceived value." Our existing customers now think, "Hey, they're actually selling something better that's more expensive, but I'm getting a deal," and by offering them that deal because of their loyalty, you engender more loyalty. So it can actually be good for old customers. How it benefits new customers Now, for new customers, once again, same sort of situation. You've increased the perceived value. So your customers who come to you think, "Oh, this company is professional.
We were just looking at our customers, saying to ourselves, "There's no list of luxembourg consumer mobile number list way they can afford it." But then luckily we had the foresight that there was more to raising prices than just charging your customers more. How it benefits old customers The first thing that just hit us automatically was... "Well, with our old customers, we can just discount them. It's not that bad. We're in the same place as we always were." But then it occurred to us, "Wait, wait, wait.
increasing our perceived value." Our existing customers now think, "Hey, they're actually selling something better that's more expensive, but I'm getting a deal," and by offering them that deal because of their loyalty, you engender more loyalty. So it can actually be good for old customers. How it benefits new customers Now, for new customers, once again, same sort of situation. You've increased the perceived value. So your customers who come to you think, "Oh, this company is professional.