Should I put my prices up or bring them down a little?

Prices up or down?

We have so many conversations around this area with therapists concerned their prices are having a direct reflection on gaining new clients.

As more and more NHS therapists dip their toe into the independent sector, this will automatically generate more competition for those more established therapy companies.

What to do?

First of all check out your immediate competition.
• Carry out a few mystery shopping exercises to find out what your competitors are charging in the areas you cover, especially their travel and mileage costs.
• Put together a feedback questionnaire to your current clients to gain an insight into their thoughts on your current service provision.
• Those particular new enquiries that came to nothing, give them a call and ask if they still need your support and, if not, ask which alternative therapy company they decided upon and what swayed their decision.

The more knowledgeable you are about your competitors and your particular industry the better. It will have a direct impact on your decision making regarding growth in your business as you take on more associates and promote your services to new case managers.