28 min
How and why you should be charging more for your products or services Your Dream Business
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- Marketing
This week’s podcast is all about pricing. I will be talking about the practical side and the emotional/mindset side. I really hope these points will help you if you are struggling with setting your prices or want to increase them.
KEY TAKEAWAYS COVERED IN THE PODCAST
• It is good to look at what the industry average is but you can go higher if you are more experienced or lower if you feel someone is charging too much.
• See what your competitors are doing – this will help you judge where you need to be.
• Think about what makes you different and why people will come to you.
• What can you offer that your competitors don’t have?
• As your credibility grows, your prices should increase.
• You can grow your credibility by getting in front of other people’s audiences.
• Investing in yourself with time and money builds on your experience and confidence in charging more.
• People perceive that the higher the price, the better the quality, so you need to charge enough for your product/service otherwise they may go elsewhere.
• You need a significant price difference for each service level you offer so it makes sense to the customer.
• Reward loyalty with existing customers – you don’t have to change their prices.
• Putting your prices up is as simple as changing a figure on your website or price list – remove the emotion from it.
• Not everyone will be able to afford your prices, but that’s okay, there will be others who will.
THE ONE THING YOU NEED TO REMEMBER ABOVE ALL ELSE…
Don’t undercharge yourself for what you do, have confidence and go and charge a bit more!
HIGHLIGHTS YOU SIMPLY CAN’T MISS
• Looking at your competitors pricing – 07:07
• Gauging your pricing based on credibility – 09:10
• Have confidence in your pricing – 15:55
• Pricing structures – 19:00
• Putting your prices up – 22:05
This week’s podcast is all about pricing. I will be talking about the practical side and the emotional/mindset side. I really hope these points will help you if you are struggling with setting your prices or want to increase them.
KEY TAKEAWAYS COVERED IN THE PODCAST
• It is good to look at what the industry average is but you can go higher if you are more experienced or lower if you feel someone is charging too much.
• See what your competitors are doing – this will help you judge where you need to be.
• Think about what makes you different and why people will come to you.
• What can you offer that your competitors don’t have?
• As your credibility grows, your prices should increase.
• You can grow your credibility by getting in front of other people’s audiences.
• Investing in yourself with time and money builds on your experience and confidence in charging more.
• People perceive that the higher the price, the better the quality, so you need to charge enough for your product/service otherwise they may go elsewhere.
• You need a significant price difference for each service level you offer so it makes sense to the customer.
• Reward loyalty with existing customers – you don’t have to change their prices.
• Putting your prices up is as simple as changing a figure on your website or price list – remove the emotion from it.
• Not everyone will be able to afford your prices, but that’s okay, there will be others who will.
THE ONE THING YOU NEED TO REMEMBER ABOVE ALL ELSE…
Don’t undercharge yourself for what you do, have confidence and go and charge a bit more!
HIGHLIGHTS YOU SIMPLY CAN’T MISS
• Looking at your competitors pricing – 07:07
• Gauging your pricing based on credibility – 09:10
• Have confidence in your pricing – 15:55
• Pricing structures – 19:00
• Putting your prices up – 22:05
28 min