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#40 - Pricing Strategies for Aging in Place Professionals
Manage episode 485702729 series 3578196
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Pricing services correctly is crucial for thriving in the senior care business, especially for newcomers to the aging in place industry. Esther Kane shares her expertise on developing fair, competitive pricing strategies while creating unique value propositions that differentiate your business.
• Understanding cost components: direct costs, labor rates, overhead expenses, and profit margin
• Using BLS.gov/ocs, state economic opportunity departments, and sites like PayScale to research competitive hourly rates
• Developing a unique value proposition that focuses on solving specific problems rather than generic services
• Creating specialized packages for specific conditions like dementia care, stroke recovery, or wheelchair accessibility
• Leveraging digital tools like Dwell Safe and Silver Spaces for home assessments
• Utilizing video marketing to demonstrate solutions and build trust with potential clients
• Remembering that clients typically need at least seven interactions before purchasing services
More information on this PDF
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Chapters
1. Introduction to Pricing Challenges (00:00:00)
2. Understanding Cost Components (00:02:37)
3. Researching Competitive Hourly Rates (00:04:21)
4. Creating Your Unique Value Proposition (00:09:37)
5. Using Digital Tools and Video Marketing (00:12:45)
6. Final Pricing Considerations and Resources (00:19:36)
40 episodes
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