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How To Raise Your Rates and Increase Your Profit Margins [Slideshow]

October 14, 2019

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How To Raise Your Rates and Increase Your Profit Margins [Slideshow]

Editor’s note: This post was originally published on 9/20/17 and has been updated for accuracy and comprehension.

How to raise your rates and how to increase your profit margins

  • Answer the "why?"
  • Believe in the quality and value you deliver.
  • Be confident in yourself and in your product or service.

It’s time to think about how you set your prices.

Are you considering COST or VALUE when you make those decisions?

Watch the slideshow and keep reading afterward to find out what’s important and how to raise your rates AND how to increase your profit margins.

How To Raise Your Rates And Increase Your Margins With Value-Based Pricing

As you think about basing your prices on cost or value, you should also think about where your client’s ROI is sitting and the kinds of outcomes you’re generating.

When you make the choice to consider how to raise your rates and how to increase your profit margins according to value-based pricing, there are two important steps to follow.

1. Believe in the quality and value you deliver.

If you're not confident in the quality of your product, improve it. 

2. Master your confidence.

Confidence in your products and services and certainty in yourself can be the difference between nabbing a sale or flopping.

It’s a win-win situation.

 

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Josh Coffy

Josh has an exhaustive understanding of technology and a creative marketing approach that drives client results. In his free time, Josh does CrossFit and travels with his wife.