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Pricing Pressure

The difficulty of passing rising costs on to customers is a primary concern for the leaders of smaller U.S. companies, according to the Merrill Lynch Smaller Firms Survey released in January. Roughly 21 percent of respondents identify pricing pressures as a major issue for their businesses over the next 12 months. If your small business is feeling the pricing pinch, check out a free online Success Skills Seminar from the National Association for the Self-Employed (NASE). The seminar “Pumping Up Prices,” is online now at www.EntrepreneurialConnection.com. Topics include:

• When To Raise Prices

• How To Calculate Price Increases

• How To Approach Customers With Price Increases

• How Not To Approach Clients

• How Often To Raise Prices

• Keeping Tabs On Competitors’ Prices

Ad Campaign

Don’t waste your marketing money by running just one advertisement for your small business. Instead, think in terms of a campaign. Prospects need to see an ad multiple times before the ad’s message sinks in. Follow these tips to create a campaign:

• Develop an ad that focuses on the single most important benefit you deliver to customers

• Based on your budget and your target audience, decide where you should run the ad and how often you can run the ad

• Find other marketing avenues that support the message in your ad, such as promotions and publicity

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