My business provides services B2C and B2B. We we our prices years ago by looking at our competitors pricing and setting our prices at the average or slightly higher. Since then we have increased them just enough to keep up with inflation.
How can we determine if we should raise or lower prices? Unfortunately in our industry it takes 3+ months to close a sale so trial and error or AB testing would be impractical.
Are there any common signs to look for that indicate prices are too high or too low?
Too many clients means your prices are too low. Almost no clients means your prices may be too high.
We have about 50 clients per month. In theory we could handle up to 70 without hiring new staff. How do I know if we have too few or too many clients?