Okay, before we begin discussing pricing, I want you to remember you may already have the perfect pricing structure for your target audience. Just use this to build on the framework of what you already have and what you’re building for your target audience and your marketing strategy. If you still need help with your pricing structure and making sure it's exactly where it needs to be, there are other courses and programs within the OSC to help you get a better understanding of what to price your products for your ideal patient.
Do you have the right price for your products and services? Right price. Who even knows what that is? When it comes to price, you’re going to have to ask a few questions to begin narrowing down to the correct answer. Begin with looking at the value of your product. What is the value of your product to your patient? Are they sensitive to price? How do you want to be perceived? Are you selling high-end products? This piece is critical to the success of pricing your product.
At the end of the day, you need to be able to run your business and keep it thriving. However, if you don’t have patients willing to pay your price, you won’t be able to survive. When you are setting your prices, you need to consider your supply costs, staffing costs, and other costs associated with running a successful eye care practice. Review your costs from vendors as well as how much your practice needs for its bottom-line. This will set a base price for you to begin establishing your final price for your products and services.
So, you have your base pricing and you’ve begun to think about the value of your product and how your patients perceive that value. Now we’ll ask some deeper questions. How low are you able to price your products or how high are you able to price your products? Generally speaking, if you have an established practice, patients will understand a higher price. So, basing your pricing off the value your patients perceive, how high do you believe you can set your prices?
Don’t race to raise your prices and make them even higher. Think about what your competition is doing and what your patients are valuing your product and services at. That will help you determine the right price for your practice.