Price-Sensitive Customers Will Tolerate Uncertainty
I enjoy improving margins through higher pricing as much as (perhaps even more) than everyone. However, what I’m learning is that the real creativity of better pricing involves designing pricing strategies to grow your business by activating dormant customers. So contrary to popular thought, activating dormant customers through targeted lower prices is a key strategy that all companies need to focus on.
Please check out my latest article for the Harvard Business Review which discusses how to use uncertainty to separate those who truly deserve a discount from posers who claim they need one. Just as importantly, this article reveals my s-e-c-r-e-t to saving a fortune on hotels – something that we all can appreciate too!
As always, thank you for reading my blog.
