How To Double Your Pricing and Your Conversion For Virtual Tour Photography
Hello everyone, in this blog post, we’ll be discussing a word of advice that was given by Zach Calhoon regarding doubling prices and conversions. When it comes to pricing, the most common question that we ask ourselves is, “What should I price this project/service?” However, there is no perfect answer to this question, as it depends on various factors such as the type of business you’re in and the clientele you’re dealing with.
As Zach mentioned, there are two main categories in the virtual tour business space: residential real estate and commercial applications. In the case of residential real estate, pricing tends to be lower as it is usually an add-on service, and the clientele typically consists of individuals who are looking for a quick and affordable option. On the other hand, commercial applications can offer more opportunities to increase prices, especially if the facility has a big space or multiple locations.
When a potential customer reaches out to you for pricing, it’s essential to ask them what their budget is. If they don’t have a budget or have no idea, it provides you with some flexibility on what you can charge. One way to increase your pricing and conversions is by using a tiered pricing strategy. The first tier is the base price for the service, the second tier includes a bonus service that costs you little to no extra work, and the third tier is your grand slam offer that includes everything.
When you propose a tiered pricing strategy, you can gauge the customer’s interest by starting with the first tier and getting them to say yes to that. Once they agree to the first tier, you can upsell them on the second tier, which often gets taken more often than not. This strategy allows you to increase your pricing while also increasing your chances of converting the customer.
In conclusion, Zach Calhoon’s advice is to not be afraid to ask potential customers what their budget is and to use a tiered pricing strategy to increase your pricing and conversions. Remember, it’s all about providing value to your customers and ensuring that they feel satisfied with the service they receive. Thank you for reading, and I hope this advice helps you with your business endeavors!