What is Your Pricing Personality?

Have I ever mentioned that IBN's private Facebook group is not just a business community? It is heavily focused on business (as it is designed to be), but we also have fun in a really unique and amazing environment. For example, last week, I posed this simple question in our community:

When it comes to your brand, are you DISCOUNT DEBORAH, or HIGH-END HILLARY?

I figured our members would choose one or the other, but I was wrong. The conversation prompted people to share some hilarious personality types. The discussion is simultaneously informative and entertaining. I did not stop laughing all weekend, and I knew you would enjoy being let in on a bit of the fun, so I'm sharing it with you. Here are some of the personality types they came up with. (When given permission, I have identified the contributor.)

Do you see yourself here? Do you see someone you know?

What is your Pricing Personality?

  1. Discount Deborah lures buyers with the power of the discount.
  2. High-End Hilary embraces high prices as a part of her brand, and is proud of it.

  3. Mid-Priced Melanie is somewhere in between Discount Deborah and High-End Hilary.
  4. Middle-of-the-Road-Mogul is currently Mid-Priced Melanie, but she's working her way up.
  5. Approachable Amy is a mixed bag, with some products that are cheap, and others that are slightly more expensive.
  6. Semi-Luxe Sandy is kind of almost luxurious, but not quite ready to pull the price hike lever.
  7. Bleeding Heart Betty considers her customers' pocket book before she considers her own.
  8. Market-Minded Mona charges what works in her particular demographic. (Deb Jasien of Fields of Ambrosia in New Hampshire)
  9. Reasonably Priced Rock Star could raise her prices, but hasn't (yet) because she's making good money and is a rock star in her niche the way things are.
  10. Cover-My-Costs Catherine is all about making sure she's not losing any cash. (Danielle Vincent of Outlaw Soaps in California)
  11. Value Vanessa, the “value” being the blend of superb quality and reasonable pricing. (Marge Clark of Nature's Gift)
  12. Priced-for-Value-Profit-and-Practicality Penelope is a little of everything, not quite willing to commit to just one.
  13. Sincere Samantha is sincere, but not quite comfortable talking about pricing.
  14. Accessible Annie prices in an effort to make all products accessible to all people.
  15. Budget Betty sets prices to appeal to the budget-conscious.
  16. Premium Patty has prices that you'll never call “cheap,” but they are not over the top either.
  17. Upsell Uma extends up-sell buying opportunities to customers who are already paying full price for other items. (Stacia Guzzo of Handcrafted Honey Bee in California)
  18. Sweepstakes Sally offers games and incentives to make buying fun! (Kristen Fusaro-Pizzo of Bath, Body, and Candle Moments in New York) Kristen is also one of the 2016 Artisan Entrepreneurs of the Year.

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Question

Do you see yourself in this post? Which pricing personality do you have, and why? If you are inspired by the information here, feel free to share in the comments below, or share on Facebook, Twitter, and LinkedIn.

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About Donna Maria Coles Johnson

Donna Maria is an author, podcaster, attorney, and the founder and CEO of the Indie Business Network, providing affordable product liability insurance and mentoring. Donna Maria teaches Makers and Creative Entrepreneurs how to use technology and community to build a profitable, sustainable business.