Have you ever had the experience where someone is super excited about what you’re offering right up until the moment they hear your price? Well, this isn’t a sign that you need to lower your prices, no no my friends. It’s a sign that you need to raise your perceived value.
In this episode I’ll be giving you some tips on exactly how to do just that, so you can make it really easy for people to give you that full-bodied YES when it comes to decision time.
We’ll cover:
- What “value” actually is
- 3 tips to elevate your perceived value
- Advice around pricing
Prefer to Read? Here’s the podcast transcription:
Have you ever had the experience where someone is super excited about what you’re offering right up until the moment they hear your price? Well, this isn’t a sign that you need to lower your prices, no no my friends. It’s a sign that you need to raise your perceived value.
In this episode I’ll be giving you some tips on exactly how to do just that, so you can make it really easy for people to give you that full-bodied YES when it comes to decision time.
Now, before we dive in with the action steps, we just need to unpack this whole “value” thing a little bit so we can move forwards and I want to start by picking apart the what value actually means.
According to the Cambridge Dictionary, value can be defined as “the importance or worth of something for someone”
Now the key word that really should be in BOLD here is the word “someone”
Because in this hides the truth: value is an entirely subjective thing which varies from person to person.
For example, I’m not particularly into fashion, I’ve been a t-shirt and jeans kinda girl my whole life and so a designer label holds no real value for me.
What I will pay more however is for clothes that are sustainably made, because being conscious of the environment and how we preserve our planet is something that is personally very important to me.
Now neither one of these viewpoints is objectively better or worse, simply different, but this difference is hugely important when it comes to you as a brand owner trying to make a living.
And so the first question I want you to explore is this:
What’s the difference between people who would VALUE what I do versus those that won’t? What’s important to them and am I obviously communicating that I recognise and share these same beliefs?
You see, we want “our people” to be able to spot us from a mile off and know that we are for THEM. So tip number one is ultimately this:
- Get super clear and super specific on EXACTLY who your people are and make sure your Messaging speaks specifically to them.
If you’re wishy washy in your messaging, you’re going to get a wishy washy audience… and by extension, wishy washy results. 😉
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Now just so you know, this kinda stuff is exactly what I cover in both my 1:1 programmes and inside my 90-day programme The Brand Chrysalis, so if you know you need to spend more time getting clear on your audience because currently it’s really not aligning with your pricing, or the prices that you do want to charge, then do check out my website for more info.
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Alright, moving on and I need you to take what I’m about to say super seriously.
As a business owner, it is your job to help your audience understand the value of what you do… not their job to figure it out.
When we live and breathe our business, it’s super easy to forget that others don’t know what we do. We take our own knowledge for granted and this creates a disconnect between what we think we’re saying and what others are actually hearing.
Just because you’ve rehearsed and re-rehearsed all the reasons why your prices are the way they are – your audience still doesn’t necessarily get it, if you’re not communicating it in a way that makes sense to them.
My best example for this is in the field of coaching. The industry has blown up over recent years, but because of a lack of regulation it’s still largely a grey area in terms of what coaching actually is and what it might be worth to some people.
If you are a coach and lose site of the fact that a lot of people probably still don’t really know what coaching is and don’t address this knowledge gap in your content, you’re essentially limiting your potential clients to those who already “get it” a.k.a… other coaches.
Now, this might be a viable option for you, but if that’s not what you’ve signed up for – then tip number two is for you:
- Make a habit of spelling out exactly why what you do is valuable in language and messaging that your audience will understand a.k.a. make it relevant to their life RIGHT NOW
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Now let’s bring it home, and this final tip is a little more out there but you’re gonna need to stick with me on it because even if you nail exactly who you serve and exactly how to explain why it’s valuable… it won’t help you if you don’t do this…
- You need 100% believe in your own value, and show up energetically in a way that communicates that.
I’m hoping I haven’t lost you here, because I know this stuff can sound a bit “woo” but honestly, hand on heart, so much of raising your perceived value is confidence.
If you don’t believe in your own pricing, how can you expect anyone else to?
If you aren’t confident in the value you’re bringing to the table, how can you expect anyone else to be confident in your ability to deliver?
Now, you might be thinking – but Becky, I’ve never charged more than X amount for something, how I can believe it when I don’t have any evidence of it? How do I know I’m not just being overly-confident or worse, deluded about the actual value of what I do?
To this, I would say just a couple of things:
- Firstly, I just want you to question where this price has come from. So much of what I see online is coaches telling people to just “raise your rates!” “charge high ticket!” “if you’re doing X, then you should be charging at leat Y”
- So much of this is a recycled narrative because quite honestly, it sounds sexy right?
- But if you hand on heart know you wouldn’t pay that, or that you cannot honestly get behind charging that amount of money then I would say it would actually be wayyyy more beneficial starting by charging something that you ARE comfortable with and building up your belief from there.
- I know that doesn’t sound as sexy, but I promise working this way and building up that belief over a period of time will be wayyyy more financially viable for you rather than trying to fluke your way into landing some high ticket client and then second guessing yourself throughout the whole experience.
- Just aim for that number that feels possible, but still gives you those excited butterflies in your stomach, k?
Now if you are in a position where you think, no actually I would pay that amount for something and on some level I absolutely know I can sell this at this price here’s an exercise for you to explore:
What is the difference between the version of you that full embodies this belief and the version of you now? How is she showing up in her life, that you currently aren’t? What’s she talking about? What’s she doing in her day?
A way for you to move forwards here is to create a super clear identity in your mind and then explore ways that you can start to try that identity on.
And that’s it for this episode my friends!
Until next time, keeping making waves.
