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Aug 03, 2019 14:04:00

Pricing your Service

by @brianball PATRON | 231 words | 401💌

Brian Ball

Total posts: 401💌
Total words: 114364 (457 pages 📄)

Going into business is not easy.

It's challenging.

One of those challenges is pricing.

Another is value

A third is audience.

In reverse order, we need to answer the questions: Who? What? and for How much?

What if you charge people differently depending on the value they get?

What if @baz said: "Brian, you're getting a ton of value on 200wordsaday, you show up every day, you make friends, you're writing has improved. That's going to be $100". For @brandonwilson - he's changing his whole diet and lifestyle. For @lucjah -- she's expressing herself and @5plus6 is having her reality questioned -- all different values.

Wouldn't it be like one person who sits at a restaurant and gets a bottle of wine and dessert with their meal compared to the student couple who come in and share a salad and eat the free bread sticks?

Many businesses charge like a Buffet. Show up, sit down, eat all you want.

But, pricing is more nuanced - or can be. We don't have to charge by the table ( to continue the restaurant analogy ), we can charge by the plate.

As I start RocketMonth - some of my clients will be on a diet and won't eat much. Others are working hard and need more calories, more attention, more value. 

The value will be fluctuate. The price might as well.

From Brian Ball's collection:

  • 1

    @brianball I used to get my money's worth at a buffet but definitely not anymore. It is interesting to think about pricing from the business side rather than from the consumer side.

    Brandon Wilson avatar Brandon Wilson | Aug 05, 2019 07:49:52
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      @brandonwilson - my mother-in-law says to me: "I want to take you to this hot-pot place -- it's only $30 and all you can eat." To which I replied -- I can eat all I want anywhere for $30. It deflated her when she realized the truth in that.

      Brian Ball avatar Brian Ball | Aug 05, 2019 07:56:28
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      @brianball @brandonwilson

      haha micdrop response right there

      Abe avatar Abe | Aug 05, 2019 17:17:00
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      @brianball @brandonwilson @abrahamKim - lol Brian. Micdrop moment indeed.

      Keni avatar Keni | Aug 05, 2019 18:34:54
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    @brianball - Only Brian would talk about pricing and a buffet and make so much sense. I am total agreement.

    Just like my journal - it could be totally useless to some, and life changing to others. For any type of service, the value is dependent on how much effort the user puts in it. It would be tricky to try and gauge what the value is, what it is perceived to be and if you would attract or offend customers by having a variable price.

    Image a psychiatrist charging a variable price depending on how much help their patients need. Few will admit that they deserve higher price.

    Keni avatar Keni | Aug 05, 2019 09:38:29
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      @keni - that's why pricing is hard :-)

      Brian Ball avatar Brian Ball | Aug 05, 2019 07:07:13
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    As for pricing, you remind me of an interesting story.
    In China, there used to be a very popular mode of charging: you pay at the beginning, eveyday you have to share your streak on social media, the day when you achieve the 100th streaker, you would get your money back; then it'll charge for future streak.
    Undoubtedly, it's so popular among the students that the social media is occupied by people's tweets. But fewer achieve 100th, and much less continue to pay after that. What's more, no one really use the app, they just want to save the streak.

    (The result is that all the apps are forbidden to force clients to tweet on social media. )
    When I start to write on 200WAD, it's the hottest period of such mode. My classmates asked me:" Do you have to pay? Do you have to tweet? Are you forced to join a chat channel? Would you be advertised for new products?..." All my answer is "No."
    "So it's a cheap group like '贴吧' (chatting group for nothing)." They made a conclusion.
    I argued that it's a simple community only for long-term writing. Self motivation and community help are the two ways to let you stay. It's a place to play long-term games with long-term people.
    Now, I have a clean social media without streak tweets for money, and I'm the only one continued after 100th streak of my goal.

    5plus6 avatar 5plus6 | Aug 04, 2019 23:16:29
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      @5plus6 - 😅 - you've definitely brought yourself to the party. Thank you for that. When are we FocusMating ?

      Brian Ball avatar Brian Ball | Aug 04, 2019 08:28:35
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    @brianball congrats on the new launch, interesting though on the pricing, I guess another way is finding your competitor and see how much they charge, it help you to narrow down what's the ideal pricing.

    Knight avatar Knight | Aug 04, 2019 08:13:32
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      @knight - sure -- and depends on if it's a commodity or not.

      are you in slack? would love to chat a bit

      Brian Ball avatar Brian Ball | Aug 03, 2019 17:26:18
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