Who would have thought?

Years ago my team and I had a heated and rigorous debate about how we should price our used cars. It focussed on the relative merits of round pricing (£5000) or odd pricing (£4999 or even £4995). We all had passionate convictions over which was best and why. On a stock of around 500 used cars it was an important decision, or so it seemed.

Recently I stumbled across a book on the psychology of pricing. 180 pages of well researched, evidence based studies on the impact of such decisions. It claims to cite over 100 measured effects of different pricing strategies. The one or two referred to above aren’t even the tip of the iceberg. Who would have thought that behaviourists and psychologists would have rigorously researched the effect of such things as whether ‘save 25% off the original price’ would work better than ‘buy at 75% of the original price’? and who would have thought that that research would be translated and condensed for the reference of each one of us?

The book is hardly a page turner, interesting and invaluable though the information is, but my biggest light bulb moment is that there is hardly any situation or problem or question that someone hasn’t found the answer to before. We just need to know where to look and who to trust.

The media keeps referring to ‘unprecedented times’ but that isn’t strictly true. Some people have grown businesses through rampant inflation, rising energy costs and uncertain labour conditions. The answers are out there if you know where to look.

I am about to announce a live seminar series presenting half a dozen strategies that you can execute now to make sure you continue to grow your business, whatever the climate. Watch this space.

Many successful business owners eventually hit a wall on growth and struggle to climb it alone. When you work with me you get a fresh perspective, a solid plan, and customised coaching so you can grow and scale your business safely and at speed.

To check whether I can help you on that journey https://calendly.com/iankinnery/canweworktogether