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Education

tisements only when the magazine is This strategy is rarely adopted and can lead to disaster for most busi-
present at a tradeshow, doubling the nesses.
exposure.
• Optional product pricing: This type of pricing lets you take a com-
Product mon product and decrease or increase the price for optional services. A
great example would be tickets to a baseball game. All the seats in the
What is the product or service you stadium are the same size but carry different prices. Closer to field, isle
are advertising and what is your dif- seats, middle seats and club level seats all have different pricing. This
ferentiator? You want to make sure type of pricing strategy can also be referred to as pricing per location.
you're offering a product that is not al-
ready widely offered and abused. Set Why all this marketing talk?
yourself aside from the competition.
Do you have 24/7 customer support? Leads. Leads. Leads. You need to find a way to drive customers to your website
Certified staff? In-house developers? or to pick up the phone and dial in – a call to action. Marketing can also set the
Think like a consumer because at tone for your business. This is your chance to tell your story to any potential
the end of the day, you are too. What customers and turn that potential customer into a client by providing a high
would you want to see? What would level of service for both product and support. No matter how great your
make you switch providers? product is, you will cripple it if you don't support it. Marketing begins with
understanding your customer's needs.
Promote

Promote your product. Figure out Nicholas Cucci is the co-founder and chief operating officer of Fluid Pay LLC and former director
how, what, when, where and why. Is of marketing for NMI. Cucci is also a graduate of Benedictine University and a member for the
it having a precise elevator pitch and Advisory Board and Anti-Fraud Technology Committee for the Association of Certified Fraud
telling people about key features? Examiners. Fluid Pay LLC is a true cloud-based Level 1 PCI payment gateway processing transac-
One major asset to use in promoting tions anywhere in the world. Contact him at nick@fluidpay.com or 630-526-8670.
your product is reviews. Customer
reviews are the new word of mouth.
Those are the simplest and easiest
way to attain new customers. Keep
your current customers happy.

Do what you say, and say what you
do. Online reviews are an easy way
for potential customers to check you
out, so make sure you stay on top
of everything. Commenting on cus-
tomer reviews is also a good idea;
good or bad, it shows you are ready
to answer anything and stand behind
your product or service.

Price
Pricing strategy is the justification
of a competitive price for a product
or service. Here are two common ex-
amples:
• Penetration pricing: This is
the pricing where a company
will provide below market val-
ue pricing for a short duration
of time to capture customers.
The goal here is to capture the
customer and become their
main provider by providing
an impressively high quality
of service.

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