Episode 20: The Most Effective Approaches to Rapidly Grow Revenue - Part 2

In this episode, Ben Wright discusses different pricing strategies that can be used to achieve fast revenue growth. He explains eight pricing strategies, including cost-based pricing, competition-based pricing, value-based pricing, penetration pricing, skimming pricing, premium pricing, promotional pricing, and dynamic pricing. Ben highlights the benefits and pitfalls of each strategy and provides insights on when to use them. He also emphasizes the importance of continuously evaluating and adjusting pricing to meet customer needs and stay competitive.

It is important to note that Long-term retention, increasing transaction size per customer, and acquiring new customers are three main ways to achieve fast revenue growth; Pricing strategies should be based on customer value and perception, market dynamics, and competition; Value-based pricing, promotional pricing, and dynamic pricing are effective strategies for fast growth; Micro changes through discipline, such as appreciation, gratitude, and perspective, can lead to personal growth.

0:00 Intro

1:13 Recap  

2:59 8 Great Pricing Strategies 

3:31 8 Great Pricing Strategies: Cost Based Pricing

4:38 8 Great Pricing Strategies: Competition Based Pricing 

6:00 8 Great Pricing Strategies: Value Based Pricing 

7:36 8 Great Pricing Strategies: Penetration Pricing 

8:22 8 Great Pricing Strategies: Skimming Pricing 

9:09 8 Great Pricing Strategies: Premium Pricing

10:20: 8 Great Pricing Strategies: Promotional Pricing

12:07 8 Great Pricing Strategies: Dynamic Pricing

12:50 Best of These Strategies

14:06 How To Apply These Strategies 

17:31 Health and Wellbeing Tip