Rethink your pricing. Rethink your positioning
This weekend, I have been reading April Dunford’s book Obviously Awesome - How to Nail Product Positioning so Customers Get it, Buy it, Love it. While the book primarily focuses on product positioning, it also touches on pricing. Pricing should align with how your product is perceived in the market. Are you underpricing your value? Or creating confusion with mismatched pricing and positioning?
What message is your pricing sending?
Think about this: Your price does more than set revenue goals, it tells your customers a story. Who is your product for? What category does it belong to? If your price feels too low for the category you aim to compete in, potential buyers may doubt your product’s credibility or quality. Conversely, a high price without justification can make your offering seem untrustworthy or out of reach.
What does your pricing say about your business? Does it align with how you want your customers to see you?
Price as a signal of value
Pricing influences how your customers perceive the value of your product. A higher price indicates exclusivity or quality, but only if your product and messaging live up to that promise. Does your offering deliver a level of value that matches its price tag? Or are you leaving potential revenue on the table?
Does your pricing reflect just your costs, or does it represent the value of solving your customer’s problem?
The problem-value connection
Pricing should be intimately tied to the problem your product solves. If solving your customer’s problem delivers significant value, your price should reflect that. When customers see your solution as an investment rather than an expense, they’re more willing to pay for results.
Are you communicating the value your product brings, and could your pricing reflect that more effectively?
Practical takeaways from *Obviously Awesome*
Pricing is a critical part of your positioning. A well-aligned price reinforces your value proposition, builds confidence in your offering, and ensures your product stands out. Changing your price without revisiting your positioning risks creating confusion or underselling your worth.
If you’re struggling with pricing alignment or considering repositioning your product, Dunford’s insights point to one essential step: start with the story you’re telling through your positioning. Only then can your price authentically reflect the value you offer.
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