Should you cut prices during a recession?

According to a survey by the National Federation of Independent Business, nearly 30% of small business owners have lowered their prices.

When setting your own prices, consider these ideas:

>> Be flexible – offer a wide variety of pricing options to win
over and keep risk-averse customers.

>> Customize – ask your clients what they need, and then change
your mix of offerings to emphasize the most affordable.

>> Target customers when they have the most cash – the first
week of the month after shoppers have received their pay checks
is usually the best time.

Source: Evans, Teri, “Slash & Earn,” BusinessWeek SmallBiz.

This article appears courtesy of Bob Bly, Direct Response Letter. www.bly.com

About Lisa Saline

I am compassionate about helping others with online and offline business concepts. While providing training and consulting for Social Media I also enjoy volunteer work. I've owned my own businesses since 2007. Networking both offline and online is a joy. Please connect with me and let me know what you are working on too.

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