Do you ever think: I have so much to offer, but no-one’s biting … (It could be your Pricing!)
Chances are this has crossed your mind more than once! It’s a very common issue. I’ve been through it myself, so I get it. I was coaching a client on this very point today. And I thought we should explore this together!
You’re thinking: I have so much to share, but no-one’s biting… What I’m giving is of real value, and my price is so reasonable – so why aren’t people taking me up on my offer!!?
One of the pitfalls we make is thinking that the cheaper the offer the more likely we are to have someone say yes.
And yes, price-point is important, but the truth is that people associate VALUE with price-point.
It’s just like being in the supermarket and choosing a brand you feel good about, even though it’s not the cheapest.
CHEAP doesn’t equal VALUE.
In people’s minds, that is.
Although we know logically, that sometimes cheap doesn’t necessarily mean it’s not valuable! After all that’s what we’re basing our pricing on, right?!
We live in a world where we naturally associate value with a higher price-point.
And the truth is that you’re going to be working just as hard for sign ups whether that offer is for $200 or $1000.
AND the truth is that if something seems cheap, it could even put people OFF!!!
It’s also important to remember that folks are more likely to be more committed and engaged when they have ‘skin in the game’. Where they have stretched themselves to pay for what you’re offering.
That’s when people really show up!
So the question is … Are you offering your services at a level that discredits the value of what you have to share? In other words – is it too low? You’ll know intuitively if this is true. And if you don’t, ask your coach, or colleagues what they think.
You might even have clients or peers already telling you that you’re way too cheap and should be raising your prices. This often happens when it truly is an issue, and they can see how valuable what you’re offering, is. This is a double-edged sword, when you’re not getting folks biting when you make your offers! In fact it can feel contradictory!
I’m not saying shift your offer for example – from $200 to $1000 – we want it to feel authentic and be in integrity when you’re determining your prices /packages. A jump like that could freak you out, and might be weird to your community.
There are no hard and fast rules here. You can decide what feels right to you. (And don’t do what everyone else is doing – another pitfall! )
I would recommend that you stretch yourself a little, but at the same time feel comfortable with the level of pricing you land on. It might even be that your offer goes up in increments over time as you get more comfortable.
The most important thing here is to ask yourself if this might be the BIG THING that might be preventing folks from biting, when you make an offer.
It’s important to know that this might not be the only reason why – but it’s a good first place to visit.
I hope you found this helpful ! I’d love to hear your comments, thoughts or questions by clicking below!