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Money, Money, Money
Pricing Your Services To Increase Sales
I have been diving deeply into pricing strategy and psychology lately as I roll out new packages for my coaching and wrap up b-school. There is a LOT of information out there; way, way, way too much in fact.
I was almost lost in a rabbit hole, but have found my way out, in large part to this little gem that breaks it down succinctly, and a few really relevant webcasts. As always, I’m on a mission to save you time and money and serve up valuable resources, so today, I offer you the highlights.
Although applicable to products and services, these pricing tips are best applied to service-based businesses — coaching, consulting, design, digital marketing, etc. — and meant for entrepreneurs, solopreneurs, and mompreneurs.
It goes without saying that you need to know your customer and know them well. Understanding what problem you are solving for them, what motivates them to buy, and using their words to describe the problem and solution is essential.
After that, it’s all about positioning, perception, and value, and value, my entrepreneurial friends, is the trickiest part of all for service-based businesses. Price and value are not the same things, but they are in a very serious relationship, past dating, probably engaged with a puppy, maybe…
