Wednesday, October 24, 2012

Round up your fees to odd numbers



Often I advise clients: rather than charge a $1,000 fee, raise it to $1,250 because the customer has broken through the $1,000 barrier psychologically. The next fee increase could be $1,750, followed by $2,250, etc. Ideally we never set fees on even numbers. The extra rounding allows you to achieve greater profitability and revenue, which pays off over time and doesn’t appear to be a large increase to the client.

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