Trade Secret 37: Price your work on three levels

Price your work on three levels | Number 37

One of the best trade secrets ever was the three-tiered pricing approach Mike Jackson first shared in SignCraft 25 years ago. With Mike's approach, rather than offering one version of the sign based on what you think the customer wants and is willing to spend, you also show two upgraded versions.

Over the years, scores of sign professionals have said they use this approach when selling their work, including Larry Elliott, Elliott Design, McLemoresville, TN.

"I have a large framed poster on the office wall," says Larry, "that shows three ways of making the same sign. All three versions use the same size, shape, materials and production. The difference is only in the design time involved."

Click here to see it up close and hear how he uses it. That visual quickly shows the client the options for the same copy, and the added advertising value of a more creative layout. It makes sales easier, too, because it helps to clarify what the client wants, and their budget, early in the process.

Mike suggested using this approach to offer the same design as a basic flat sign, a 3D sign and an upgraded 3D version. In SignCraft [May/June 2013] Larry describes using it to sell a monument sign. He uses it to sell design, too.

"A creative sign person can usually knock out a custom version in just a few minutes more than a basic job. But the profit margin is much greater, because the custom job has advertising value-rather than just being an informational sign.

"Many of us cut ourselves short by not recognizing the power

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of this advertising value. A well-designed sign that attracts business has value more than the time and materials that went into its production. It should sell for more than just a board with letters on it."

Click here to see how Larry's use of Mike's three-tiered pricing approach can boost your bottom line and bring you more of the work you want to do.

Missed any Trade Secrets? Click here to see them on our website and get more tips to help you speed production, get better organized, produce more effective designs and sell signs easier.

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Best,

Tom McIltrot, Editor

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