Priceless April 16, 2019 The world stood in shock yesterday watching Notre-Dame de Paris overcome by flames. A building over eight centuries old on the verge of destruction. French President Emmanuel Macron spoke for his nation: “Notre Dame of Paris in flames. Emotion for a whole nation . . . Like all our countrymen, I’m sad tonight to see this part of us burn.” This building and the material objects inside are things which have no meaning in and of…
Ray Charles and the Sparse Applause of Raving Fans April 9, 2019 Near the end of his career, Ray Charles came to be appreciated for the great artist he was. By the time he died in 2004, Charles had received the Grammy Lifetime Achievement Award, a National Medal of Arts, Kennedy Center Honors, and was one of the first inductees into the Rock and Roll Hall of Fame. Before a lot of those awards, however, Ray Charles experienced a time…
Netflix’s Luxury Pricing Position April 1, 2019 How do you know when your price is too low? You know that’s the case when raise your price, and you hear very little complaint and lose almost no customers. That’s been the reaction to Netflix‘s price increase announced a few weeks ago. This article proposes a usage pricing model which would further differentiate Netflix’s customer base and generate $1 billion in additional cash flow. While Netflix might possibly be building to such…
An Impatient Garage Door Repairman March 26, 2019 One day I woke up, sleepily took care of our morning potty time for our dogs. As I brought in the last one and lowered the garage door, disaster struck. As the door lowered, it crinkled. My wife couldn’t get out of the garage; fortunately, I was parked outside and could take her to the school where she teaches. On the drive over, she asked who I was going to call about…
Guest Appearance on the “Marketing Made Great” Podcast February 14, 2019 It was a great pleasure appearing on the “Marketing Made Great” podcast, hosted by Mark Treager and sponsored by Cornerstone Media Group. We talked about the signals your prices send, homework you need to do to create profit, why it’s so hard to be the cheapest, how to know if your prices are too low, and much more. To listen, follow this link. While you’re there, check out Mark’s…
Context in Pricing: The Waffle House Edition February 12, 2019 My son is a Waffle House fan and has been since he was old enough to know what’s going on. He’s 18 now and there’s a Waffle House story in which he’s the featured star that I love to tell him now. It’s the kind of story parents tell their kids when they’re teenagers to remind them that they weren’t always as cool as they think they are as teenagers.…
If you’re a professional services provider you need to be dancing in the ballroom of your customers’ minds. If you’re dancing in the foyer, it’s not just that you’ve lost the competition—you’re not even in it.
Why giving “friends and family” discounts can be harmful for professional services providers.
Prices send signals to customers: signals that attract, and signals that repel. In this post, I ponder the signals sent by a local chiropractic practice.
The highest impact, lowest risk way to solve a cash flow problem is better pricing. It’s not an opinion, but a fundamental accounting principle.
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