Have the right set of creatives, amazing landing pages, great products, optimized ad accounts but struggling to scale & grow?
While campaign structures, creatives, offers, and other strategies are important to scale your brand, it's shocking how many brands neglect the CRITICAL LEVER of their business: product-market fit (PMF).
Guesstimates might give you a hint at your market size, but that doesn't guarantee sales.
The key? Fulfilling consumer needs at the right price point, solving their pain points, or satisfying their desires.
Reality Check Time! ⏰
- Struggling with sales outside sales periods? You're probably overpriced
- Think premium pricing screams success? Think again! Expensive products with high margins but low profits might mean you're overspending on customer acquisition
💡 Finding Your Pricing Sweet Spot
If your product/service has a decent TAM, optimizing product pricing isn't a guessing game! Here are 4 methods to try:
1. Competitor Price Analysis:️ Dive into competitor pricing via Google Merchant Center.
2. Head-to-Head Comparison: Directly compare your prices and offers with your 8-10 main competitors 📊
3. Sales Campaign Performance: Assess the performance of your sales campaigns versus BAU days 📈
4. Test, Test, Test! Aggressively test offers and push the best performing ones as your BAU 🔁
These steps can reveal a lot about your pricing strategy effectiveness and whether it's time for a revision. Remember, finding PMF is not just about being seen or solving the right problem; it's also about being seen as worth the price.
By focusing on optimizing your pricing strategy, you can unlock sustainable growth & scale for your brand!
While campaign structures, creatives, offers, and other strategies are important to scale your brand, it's shocking how many brands neglect the CRITICAL LEVER of their business: product-market fit (PMF).
Guesstimates might give you a hint at your market size, but that doesn't guarantee sales.
The key? Fulfilling consumer needs at the right price point, solving their pain points, or satisfying their desires.
Reality Check Time! ⏰
- Struggling with sales outside sales periods? You're probably overpriced
- Think premium pricing screams success? Think again! Expensive products with high margins but low profits might mean you're overspending on customer acquisition
💡 Finding Your Pricing Sweet Spot
If your product/service has a decent TAM, optimizing product pricing isn't a guessing game! Here are 4 methods to try:
1. Competitor Price Analysis:️ Dive into competitor pricing via Google Merchant Center.
2. Head-to-Head Comparison: Directly compare your prices and offers with your 8-10 main competitors 📊
3. Sales Campaign Performance: Assess the performance of your sales campaigns versus BAU days 📈
4. Test, Test, Test! Aggressively test offers and push the best performing ones as your BAU 🔁
These steps can reveal a lot about your pricing strategy effectiveness and whether it's time for a revision. Remember, finding PMF is not just about being seen or solving the right problem; it's also about being seen as worth the price.
By focusing on optimizing your pricing strategy, you can unlock sustainable growth & scale for your brand!
