Fine-tuning your pricing in relation to your continuing education programs can have a significant impact on your profits, but it isn’t always easy. We’ve created a must-have tip sheet to take the guesswork out of pricing, and here are 3 takeaways to get you started.
- Consider human behavior
We humans are complex and diverse, but our brains react to certain situations in similar ways. Understanding the psychology behind pricing can give you an inside edge.
- Promote, promote, promote
Promotions make customers expect the unexpected, create a sense of urgency, and can quickly deliver more sales overall or larger sales per customer. Promotional prices can be a strong hook to attract new customers and turn repeat customers into loyal customers. The trick is to always keep your end goal in mind.
- Discount selectively
Use the right tactic and a discount can help overall revenue growth. Use the wrong tactic and it can cost you big!
With continuing education being the second largest non-dues generator for associations, pricing methods are critical to the equation. Don’t just price with how the wind blows, test some of the tips mentioned in this tip sheet and see how it affects your organization’s bottom-line. Download the tip sheet here>>