FTV: 7 Ways to Get More Bang for Your Buck When it Comes to Pricing Your Products
Boutique Chat
Ashley Alderson
5 • 853 Ratings
🗓️ 10 November 2023
⏱️ 25 minutes
🧾️ Download transcript
Summary
Whether you're an experienced boutique owner or just a beginner, this episode may have you rethink your old pricing ways. This Season 2 solo still resonates, and in it I go over some important topics such as turn rates, how to rethink markdowns, and why your pricing is unique to your business. We want you to be able to capitalize on all the hard work and effort you’ve been putting into your business, that is why the strategy behind your pricing is so important!
I so hope you enjoy this bonus episode From The Vault. It's one that is definitely worth hearing again — and taking notes!
For show notes and resources, see links below or click here.
First released August 2019.
Resources:
The Boutique Hub: Website | Facebook | Instagram | Pinterest | TikTok | YouTube
Ashley Alderson: Instagram
Transcript
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| 0:00.0 | Hands down, one of the very biggest and most impactful mistakes that I see boutique owners make, |
| 0:07.4 | especially when they're new and getting started, you guys, is pricing. |
| 0:11.3 | Okay? |
| 0:11.7 | I'm also starting to see this mistake in today's economy as I see boutique owners starting to second |
| 0:18.0 | guess themselves when it comes to, I need to compete with Sheen and I need to compete with Timu. I better lower my prices. Wrong. Wrong. Don't do that, right? |
| 0:27.1 | The faster you lower your prices, the faster you're going to go out of business. And today I want |
| 0:32.0 | to tell you why. That is so important. Today, on this throwback episode of the podcast, |
| 0:36.6 | we're going to talk about seven ways to get more bang for your buck when it comes to pricing your products and how to |
| 0:42.3 | really build a sustainable business. And newsflash, I'm just going to give you this hint. |
| 0:47.9 | It is about way more than just the price. It is about way more than just the price you're putting |
| 0:53.2 | on the product, but it comes |
| 0:54.4 | down to the tracking, but also the branding, right? You get what you pay for. And so when you |
| 1:01.5 | elevate your brand, you are going to demand having an elevated price. So there's so much to unpack |
| 1:07.9 | in this big conversation. No shame, no shade to anyone who currently has |
| 1:12.9 | really low prices, but I really want to encourage you if you are thinking about ever, |
| 1:17.8 | building a long-term business, trying to have sustainability, trying to grow so that you can |
| 1:22.3 | have employees and have a life besides just hustling your business 24-7. the only way to do that is to build enough margin in your brand |
| 1:29.9 | that you have space for growth. |
| 1:32.9 | So enjoy this episode, you guys. |
| 1:34.6 | I'd love your feedback on it. |
| 1:35.9 | Shoot me a message at AJ Alderson on Instagram |
| 1:38.2 | or at the boutique hub on Instagram. |
... |
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