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    3 Tips For Pricing Your HubSpot Business To Capture More Customers

     3 Tips For Pricing Your HubSpot Business To Capture More Customers

    Your HubSpot business does not have to be expensive! With some thought and planning, you can design your pricing to attract more customers without increasing your overall costs by too much. Here are three tips to help you price your HubSpot services appropriately.

    1) Get customer feedback

    Before you start building your pricing model, ask your customers how much they would be willing to pay for what you’re selling. You can use survey tools like SurveyMonkey or Wufoo to find out how much they’d pay (and what features are most important). Don’t have any current customers? Interview people who have similar businesses—or who are in a similar stage of life. After all, someone willing to spend $5 a month for your software product may not feel comfortable paying $25. Knowing exactly where potential customers stand on price can help prevent expensive mistakes later on when it comes time to launch. By taking the time upfront to get customer feedback, you can save time and money by avoiding premature optimization later down the line. Plus, if you choose to charge based on value rather than cost, getting an early read on value-based pricing is critical. If customers say they wouldn’t pay more than $1/month for your service, that means you need to rethink how valuable it really is.

    2) Keep your pricing simple

    Don’t fall into a trap of having too many pricing options. This will confuse customers and prevent them from making a purchase decision. Instead, offer two price points and allow customers to choose from one of two packages based on their needs. Not only will your prices be clearer, but you’ll also reduce your administrative burden as well. Keep things simple, people! If you don’t have strong reasons for having multiple pricing tiers (and most small businesses won’t), choose one or two price points to simplify things for your customers and sales team alike. It will preserve everyone's period in the prolonged run. 

    That said, never use price alone to determine who you do business with. You should consider other factors such as company size, industry experience, and revenue goals. You should also tailor your marketing materials differently based on each customer's profile - if someone is larger than average or has more advanced technology than others in their field, give them more information about how you can help—don't shy away just because they're bigger customers; instead, find out what they need so that they'll want to work with you.

    3) Research other companies in your industry

    Do a quick Google search and look for companies that appear to be doing well. Check out their pricing structure, products, services, etc. Look at what they have to offer and compare it to your own offerings. This comparison will help you identify what products or services you may be able to trim to bring down your costs. While making cuts might not seem like a wise move at first, if done correctly it could make all of the difference when it comes time for you to price your own business. When setting up your own company, you want to create something with value—and offering too many features can result in lowering the perceived value of your product. Find ways to give people just enough so that they don’t feel like they’re getting ripped off—but also don’t give them so much information that it makes them lose interest (e.g., only showing relevant videos on a website). With careful consideration and proper research, you should be able to craft an enticing product at an affordable price point. When comparing other businesses with yours, keep these tips in mind:

    Uncover competitors' customers: The biggest mistake entrepreneurs make is assuming there is only one type of customer out there who wants their product or service; there are actually multiple types!

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