Let’s talk about the value (and price tag) you place on your offering. Contrary to popular belief the price tag isn’t the most important thing.
There is a danger that you can under price your product or service just as much as you can over price it.
If your product is too cheap, people won’t even look at it. They will think that it is in fact too cheap to deliver on what they’re looking for and will subconsciously think that the quality is not good enough for what they need.
It’s a proven fact that sometimes a price increase will result in more sales (even when nothing else is changed). And even more than that, you can attract higher quality sales as it is targeting a higher quality client that sees value in what you’re selling.
As long as you are pricing your product or service with integrity – don’t let your own issues and feelings around self-worth cloud your judgement and trick you into underpricing.
A couple of things to know when pricing your goods:
– It can take just as much time to sell and convert a lower price point product as it does a higher price point product.
– Just because you might be super price conscious, doesn’t mean your client is. Everyone has different beliefs and feelings to what something is worth. And if you do have money blocks, make it a priority to work on clearing them!
– You are looking for an IDEAL client, not just any client which means sometimes it’s okay to say no to working with someone. Get comfortable with this.
The benefit of working through this effectively is two fold – 1). it can triple your revenue results just by pricing right and 2). it can create a much more positive and higher quality environment for your business by having the right type of clients on board.
Bit of a no-brainer really isn’t it?
Learn how to increase sales in your business. BOOK NOW for a free Sales Strategy session with Nicky.
Nicky Miklos-Woodley is an Evergreen Sales & Business Coach, Trainer and Speaker.
There is a common stigma attached to ‘sales’ and yet, sales are so critical to the success of all businesses. The hard truth is without sales, your business is a hobby.