I’ve recently talked to some really fantastic entrepreneurs that self-marketed their businesses. It may have taken them some time to get their website copy and layout just right, build a strong funnel and put out all kinds of great content just to see their sales go stale.
Of course, there could be a million reasons for that, but one that I have been seeing is that they offer tremendous value at a phenomenally LOW price point. There are tons of people out there wondering right at this moment if dropping prices would bring in more sales.
Let me just stop you for a moment and ask something a mentor once asked me…
What if the opposite were true?
What if by raising your prices, you actually sold more? Even more intense, what if when you sold it at a higher price point so you could actually work less hard and fill your calendar?
I know, you might think I am a little crazy, but here’s the thing. While it’s true people do complain about the cost of something, they still know the phrase “you get what you pay for.” This means that the less they pay, not only are they expecting less – they are going to invest less of themselves in it. So this is a big deal if you are a coach or have an online program. You can’t do all the work for them in these instances and if they aren’t investing their time, your program may have very little impact and they will remember you as one of those people they once bought a low-priced course from which didn’t ‘do’ anything.
How does this show up in your life? I know it shows up in mine.
Someone can offer the same content in two different courses and if I am serious about making a change or learning something, the $200 course is going to motivate me to take it seriously while a free course will be bookmarked for later. I probably don’t need to tell you later that never happens. I only skim the course for the bits I need most.
I’ll be checking in with why we don’t raise our prices in an upcoming post so be sure to follow me.
Want to chat about your pricing? Let’s talk. Contact me to set up some time.