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#121 - Revenue is Vanity, Profit is Sanity
Reference Links:
Casey Brown, Boost Pricing: https://boostpricing.com/
EcommerceFuel Live: https://www.ecommercefuel.com/live/
On today's show, Andy plays a recorded presentation on a very important topic, that according to the speaker, Casey Brown, typically gets the least amount of attention in most businesses, and that is..............PRICING!
That sounds Booooriiinng, right?
Fluck no. Just wait, Andy will give you the Cliff notes.
Audio Disclaimer
This audio was recorded on Andy's iPhone, in March, while attending the Ecommerce Fuel Live Conference in San Diego. The audio is okay, but it is not good or great, but it's okay enough to deliver the message and for you to pick a few gold nuggets that Casey is going to sprinkle....
Alright, here are the Cliff Notes, and a few takeaways for you to consider, and if you stop listening right now, just think about this list.
- When it comes to pricing, Are you in the Driver's Seat?
- Or do your customers have all the power
- Or do your competitors have all the power
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- We get stuck on the hamster wheel of, sell/grow, sell/grow, sell/grow, and before you know it, your business is 50% bigger, with more headaches and stress, and you're not making any more money...
- How much volume would you lose with a 5% Price Increase?
- What about a 2% price increase
- What about a 1% price increase
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- There is no greater impact on profitability than pricing
- Pricing is a pully for your business
- A Tiny price change is a huge profit change.
- If you have 15% Net Profit:
- a 1% increase is a 7% increase in profit
- a 2% price increase is a 13% increase in profit
- a 5% price increase is a 33% increase in profit
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Finally, Revenue is for Vanity - Profit is for Sanity
So without further ado - Here is Casey Brown, presenting on Pricing.
Published on 1 year, 8 months ago