Expand Your Customer Base with Strategic Pricing

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Mark Anderson explains pricing methods to attract untapped customer base.

Mark Anderson


Expand Your Customer Base with Strategic Pricing
Select the "View On-Demand Recording" button to begin.
Select the "View On-Demand Recording" button to begin. The grass is always greener on the other side of the fence. Florists who cater to a less affluent customer base envy uptown competitors with their higher-order values. At the same time, those uptown shops wish they could also sell to the larger population of less affluent customers without alienating their high-roller base. Meanwhile shops in resort towns struggle with keeping their less affluent year-round customers while also seeming credible to wealthier seasonal consumers. “In each case, the shop wishes to expand their base, attracting new customers without alienating existing customers — and without sacrificing profit,” said Mark Anderson, FloristWare founder and developer who studies pricing models and writes about them for Business.com. “The goal is to sell to each customer at the most profitable possible price, and this can be accomplished with a differential pricing strategy.” Anderson explains the strategy during “Pricing for a Bigger Piece of the Pie,” a free WebBlast from the Society of American Florists. This 20-minute WebBlast presentation plus 10-minutes of Q&A, is geared toward: Florists with an affluent clientele who want to learn how to increase sales by pricing for the masses without alienating their high-roller clients. Florists serving the lower-end of the market who want to learn how to price to attract a more affluent clientele without alienating their base. Florists in seasonal destinations who want to learn how to gain the trust — and more profitable sales — of affluent seasonal consumers without alienating local year-round residents.