This month, I’ve been working with a few people in the market research industry, where structural change and economic factors are putting pressure on the industry’s pricing and revenue.
In this episode of ‘Ten Things’, I take a look at ten ways market research organisations can improve their pricing and thus their bottom line, including:
- Segment your clients,
- Segment your services,
- Develop less expensive alternatives (LEAs),
- Establish a centralised, or centre-led approach to pricing,
- Consider alternative pricing models,
- Offer a choice of pricing models,
- Ask for the client’s assessment criteria,
- Factor in contingencies to your pitch,
- Think about getting, as well as setting, prices, and
- Learn how to, and be prepared, to negotiate.
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