Raise Your Prices When Competitors Lower Them

Pricing is becoming a real problem for the business model I have created for fishing guides to earn 6 and 7 figure incomes. Competitors are slashing prices and customers are taking the bait.  The customer is looking for a deal rather than the high end guide service you built with my proven strategies.

So what do we do!?

Raise Your Prices!  Sort of…

I have been testing several strategies that have been working very well lately and I’d like to share them with you before they make my business kit offically.

My perfect customer is the tourist who is looking to fill time while on vacation with his family and friends. They don’t have a clue about fishing and are extremely easy to please.  With no expectations, they are usually happy with the boat ride, the friendly captain and catching fish is a bonus.

You just can’t build a 7 figure guide business without this type of customer.  But we have a problem.  They are price shopping and reading online reviews before booking, with price being a deciding factor.

Try This:

For several clients, I have been testing the “Call For Pricing” strategy.  For private charters, it has been working out great that is if you are a rock star salesman and can close the customers.  You are going to get calls that are slam dunks and others that are just a real pain in your ass, but the phone is going to ring more and you will have an opportunity to pitch the sale.

Another strategy we are testing is raising the pricing for several of our guides that can easily show they are worth it.  Some might have a better boat, more experience, live-bait included, licenses, drinks, etc.  Whatever it is, you have to let the customer know before they see they price.  Your all-inclusive fishing trip is the only one like it in town and you are worth every penny.

By moving the pricing to the bottom of the page, you force them to learn a lot about your guide service and not make the mistake of booking your el cheapo competitor.

On average you are worth about $150-$200/hour.  That’s $600-800 for a 4hour trip, plus gratuity of course.

However, this industry is completely screwed by guides that are part-time, groupon and all these other booking services.  I’ve seen these so called guides do trips for $25/hour and don’t get me started on these Groupon Guides!  In fact, I’m removing Groupon from my business kit asap.  You DO NOT need to give to a percentage of your profit and run a cheap charter.

So promise me this.  If you haven’t spoke to my team at SFC Design Group, then re-read my business kit and let’s do the following:

  • Make sure your website is perfect!  Don’t skimp on this investment.
  • Let’s tell the story that you are worth every penny.
  • Let’s increase the profit margins by not playing into the hands of competitors and price shopping customers.  The price is the price!

Tight Lines and Profits,
Captain Mike