Are You Making These Common Pricing Mistakes?
What Is Your Pricing Telling Your Audience?
Do you tend to attract low-end clients? (or even no clients at all?)
Do they constantly drag out their appointment times, trying to get the most bang for their minimal-paying buck?
Do you have a hard time collecting payments from clients?
Do you have way more clients than you can handle, and it’s stressing you out?
Do you feel like there’s never enough time in the day to get everything done?
Do you spend more time at appointments than with family and friends?
The KEY is finding your magic “sweet spot” price that speaks clearly to the client-base that you’re going after.
Over the last decade or so, I’ve discovered many pricing mistakes (most of which I’ve made myself), and that’s what I’m about to share with you.
Are YOU Making These Pricing Mistakes?
Mistake (1) You have “status quo” rates.
You place ALL the competition in the exact same playing field as you.
If you have “average” prices, what does that insinuate about the quality of your service?
Make sure your rates reflect your premium service.
Mistake (2) You’ve priced your service WAY out of the ball park.
The focus of this mistake shouldn’t be on pricing, here.
Let me state this very clearly –
There is always, (ALWAYS) someone willing to pay for your service, no matter the price point.
Take a Hypnotherapy service, for example. There are therapists that charge $85 for a 1-hour hypnosis session. There are also therapists with FULL schedules that charge over $1000, just to meet with them once!
What’s the difference? Perceived value.
If you’re charging high rates and not getting the clients you want, then you probably aren’t showing enough perceived value that reflects that price point.
Mistake (3) You don’t recognize your VALUE.
Are you the person who comes home completely drained after a 10 hour day that’s packed with needy clients? You’re stressed and overwhelmed because your schedule is at max capacity and something has to give.
STOP low-balling yourself! This is a clear indicator that your services are priced WAY to low.
Mistake (4) You don’t have a clearly defined pricing strategy.
Are you consistent with the price of your service, or do you waver and fluctuate your rates from client to client?
There IS an appropriate time to drop (or even raise) your prices, but it needs to be part of a well thought out plan. Your clients will respect you more (and know what to expect) if you have a set pricing system that they can depend on.
Mistake (5) You are still charging for your time.
This is often a lose-lose scenario for both you and your client. If you charge, say, by the hour, the client’s main concern shifts from getting their problem solved to getting as much as they can from you in that hour. This creates added stress for you. Worse, it destroys your authority because now the client sees you as just another paid employee, instead of an expert.
Stop basing your fees on how long it takes you to provide your service. Base it solely on the actual value of the end-result that you’re providing to your client.
Poor pricing leads to poor clients who don’t pay you what you’re worth.
If you want to get paid TOP DOLLAR by clients who desperately need your premium service…
And if you want to know the EXACT price you should be charging for your offer…