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Publish Date : May 21, 2021

Ep. 29 – The 3 Cs of Product Pricing

Are you getting one step closer to a heart attack every time you have to price your offers? Afraid you're charging too little? too much? AH! how do you decide on the price!! Stay tuned – I'll show ya how 😉

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It doesn't matter how amaze-balls your offer is... if you don't know how to price it, you're always going to struggle to sell it, the way I struggle to stay awake through those Lord of the Rings movies. So let's dive in and look at this simple way to nail your pricing on every single offer!

Tip #1: Confidence

Stand tall and let your cape fly in the breeze. You are an EXPERT and you deserve every penny that you charge. Your pricing should reflect your confidence in your ability to get your clients results. When you underprice your offers, you're not only cheating yourself out of money... you're telling your prospects and clients to think LESS of you. There have been studies that show that if you fill up two glasses with the SAME EXACT wine, and then put price labels on them saying one is $30 and the other is $80 people will actually say that the $80 one TASTED BETTER even though thy are exactly the same! People equate QUALITY with higher price. So when you price yourself too low, what is that saying about the value you really bring to the table? Be confident in the value you bring and make sure your pricing reflects that!

Tip #2: Consideration

Believing in yourself is all well and good, but the good ol' left-brain likes to remind me that there are also some logical considerations to be made with every offer. For example, what expenses are going to go into acquiring a customer and fulfilling your service? You typically want to make AT LEAST 2x what you are spending. So if you're spending $5K to sell and fulfill an offer to your customer, you usually want to charge at least $10K for that offer.

Tip #3: Choices

Once you take the time to consider how confident you are in your offer and the value it brings, as well as make the logical considerations of how much you're spending to sell and fulfill the offer, look...it's just time to choose. Don't procrastinate just because you can't decide on a price. Even if you're not on point with the price point the first time, you can always change it later. You're not tied to it forever. I raise my prices ALL of the time. So what choices do you need to make? Simple: what does it cost if they pay in full? and what about if they do a payment plan? That's it! Just make a decision and run with it. Speed of implementation is everything in business.

See… you don't have to stress over pricing your offers anymore - just remember: confidence, considerations, and choices!

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