As a business owner, here are some reasons why you might employ Pay-What-It’s Worth pricing:
1. It reduces transaction-related costs
- reduces the cost incurred from finding info on your customers willingness to pay
- removes the cost of promotional pricing initiatives
- reduces the cost of sales
- removes the cost of setting prices
2. It maximizes your potential market participation
- removes price as the major barrier to entry for the client
- adds value creation as a major reason for engagement for the client
3. (Almost) guaranteed positive revenue
- you will makes sales and receive business (as long as your service/product creates value)
4. Potentially higher profits (than setting prices) if you are:
- have loyal clientele
- provide personal service
If you love what you read on Rise of the Innerpreneur, please consider expressing that value to me. The amount you give is not important, it is the thoughtfulness of your gesture that I appreciate.
I will personally thank you for your expression of love, support and value.