We often find that businesses who are not clear about their purpose (i.e. the reason why they exist) are also unclear about their pricing.
Or to put it the other way around, having a clear purpose is extremely helpful to support your price positioning.
Consider a supplier of office furniture:
A. “We supply high quality office furniture at best prices” = commodity products at low prices.
B. “We design work environments to help your people thrive” = valuable service at premium prices.
One is inspirational and meaningful to potential clients, the other is just another “me too” supplier whose only option is to compete on price, product range and maybe things like “guaranteed next day delivery”.
You might be surprised at the number of businesses we talk to who are not clear on this link between purpose and pricing.
But when you think about it, it makes sense, right?
If you are clear about your reason for being, why you exist, and what difference you are making to your customer’s lives, you can also be clearer when justifying your pricing.