Product Pricing: Are You Charging What You’re Worth?
By: Karen Pattock
Tell me if this sounds familiar…
Potential client appointment set….. Check
Product and services information packet ready….. Check
Excited to present the information….. Check
Meeting with client and things are going well….. Check
OH NO!! Nagging voice inside my head starts giving me doubts….. Check
If this has ever happened to you don’t feel bad. It’s happened to all of us. That nagging voice tends to hitch a ride with you wherever you go and pops up in the most inconvenient places. Often times, that nagging voice can give you doubts about the prices you’re charging for your products and services.
That’s never a good thing, especially when you’re in the middle of presenting to a new client.
Today I want to share with you a strategy I used to carry me through those times of doubt when I was battling my own nagging voice. It’s a simple strategy that will boost your confidence and increase your success rate of closing the deal.
But before I tell you my strategy, I want to discuss one other thing with you. I want to talk about the tendency you may have to decide “ahead of time” if someone can or cannot afford your services. It’s a common problem and truthfully I’ve been guilty of doing this myself. However, there is one thing that I’ve learned along the way.
You can never predict what someone will purchase.
How could you set the value of what you’re offering in their unique set of circumstances? It’s impossible because you haven’t lived their life. It’s like “Maslow’s Hierarchy Of Needs”… where does the priority fall for them? Only they can decide.
The key to this is to remain neutral. Stay 100% focused on what you’re bringing to the table. Remain benefit driven as you present your products and services. Let the clients make their own choices.
Ok…. now onto my super cool strategy that will help to keep you confident during your presentation and remove all possibility of you discounting your program price.
Ready? Come to every meeting, every call and every presentation with a bonus tucked away in your back pocket so to speak.
Here’s the mindset shift… when you begin to hear that nagging voice whispering in your ear something like, “They will never pay that much for your service” or “What makes you think you’re worth that much?” you will have the antidote that neutralizes that debilitating voice.
Here are a few suggestions for appropriate bonuses:
1) A free copy of your eBook that you typically sell on your website.
2) An extra hour of coaching or training
3) A complimentary membership into a program that you’re running
4) A packet of checklists & cheat sheets that will make their journey easier
You get the picture. Use your imagination and choose something appropriate for your business model.
But remember, the purpose of this bonus is to change your perspective when you’re feeling doubtful. It’s a safety net for you, not your potential client. I’m positive that your products and services CAN stand up to the fees that you are asking. The bonus is only to help you reach a comfort level when you’re feeling unsure with your ability to close the sale.
It’s a beautiful system that works like a charm. I had it available many times when I was first getting started in my health coaching business and in complete honesty, I only used it a couple of times. The rest of the time I didn’t need it but it was nice to know it was waiting in the wings if I needed it.
Together let’s take away the power of all the nagging voices we have swirling around us every day. Knowledge and preparation is power and together we can take our presentation skills to a masterful level.
Quick Question: Did you like this article? If so, please share it with someone that you know that could use this information. I’m doing my best to assist health and fitness business owners to build profitable businesses, but I need your help. Thanks… I really appreciate your assistance.
With love & support,