Loudpixel’s Allie Siarto discusses how to approach pricing strategy in two very different business models.
Allie Siarto is the co-founder of Fare Oak, an online women’s clothing company that donates 5% of every sale toward scholarships to send kids to summer camp.
Pricing strategy is one of the biggest challenges new entrepreneurs face, especially in a service-based business. But there are a few principles that can make it easier to set fair prices (and turn a profit), including:
- Know your industry, audience and persona.
- Understand what the market will bear.
- Have confidence in your abilities – and set prices accordingly.
Check out the video for details, and Allie’s take on how low you should go.