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?
You’re getting every job - raise prices. You’re getting no jobs - lower prices.