Planning & Strategy Planning Processes

Signs You Are Undercharging Your Customer

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Do you feel as though there is a chance that you are undercharging your business customers? If so then you cannot let this continue. If you do then you could be losing out on huge amounts of money, when in reality, all of this could be avoided. If you need some help when it comes to charging your customers then all you have to do is take a look below.

You Are Getting Told Yes to Everything

One sign that you may be undercharging your customers is if you are being told yes to absolutely everything. A good rule of thumb is if you are being told yes to more than 50% of the quotes you are giving out then this is a sign you need to raise your prices. You want people to tell you no at the end of the day because it’s normal that not everyone can afford you. You’re not a bargain business at the day, and the work you do carries value. If you want to do something about this then make sure you are finding people who are happy to pay you for what you are worth. If you are having a hard time giving quotes for a job then one thing you can do is invest in quote software. You can use janitorial bidding software to improve your workflow if you work in the cleaning sector, so try and keep that in mind.

You’re Working Full-Time

If you are working full-time but find that you still feel as though you are not making ends meet then this is another major sign that you need to increase your income. You may find that you just can’t get enough money in to pay your basic bills, and if this is the case then something has to be done. It may be that you need to either change your business model or that you need to be more accurate when you price work and the hours you are putting in to complete that work.

Looking at Things from Your Client’s Perspective 

If you are constantly looking at things from your client’s perspective then this is a major mistake too. You may find that you are guilty of this one if you don’t feel as though you are making enough income. Don’t think that your clients are more likely to say yes to something if you give them a better deal because although this may be true, you need to make sure that you don’t use this as a reason to lower your rates. If you do then you may find you end up struggling and that you are not able to get the result you want. It has to be a win-win for everyone because there is nothing worse than dropping your price and having your client say yes. You will be left wondering what would have happened if you never decreased the price at all, and this can make you feel as though money is being left on the table.

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