1. Use your pricing to help seal the deal

Warren Buffet remarked that “(the) single most important decision in evaluating a business is pricing power.” No matter what size your business, you can use pricing strategies to help keep customers coming back—even if prices rise.

Case in point: In our 2022 Benchmark Report, responding freelancers who said they offer 3 or more pricing tiers in their proposals reported winning 20% more new business than those who reported only offering a single option.

Before selling his previous agency, Brett followed this strategy by setting 3 price points for his services: Starter, Standard, and Premium.

These were the results, he says:

• The tiers helped clients’ decision-making.

• They won new business pitches thanks to their simplified pricing model.

• Over time, the agency was able to streamline its client list, focusing on just the first 2 tiers.

Minaz of Wired Messenger also implemented 3 price points. He agrees with Brett: “In the past, our pricing was all over the place. Our accounts team was always angry at us.” Now, Wired Messenger’s clients and accounts team have a clear outline of the cost of services. Another added benefit: transparency. Minaz says his customers appreciate getting invoices minus any surprises.