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Charging for Services
There are specific factors, including your strategic goals that influence pricing for a service.
- The demographic makeup of your community will dictate how much people can actually afford. If the median household income is above the national average, you can assume you could establish higher fees than in a financially depressed area.
- If your agency wants to establish itself in a new market, you might charge lower than usual prices in order to generate more clients who buy the service. You also will modify pricing based upon demand – i.e, if the demand for your services is either very high or low. Competitor pricing also has a great effect. If competitors are charging much less, you may need to lower prices. Similarly, if competitors are charging more, you might consider matching their prices.
