Are You Priced Too High?

If you are asking yourself if your pricing is too high, there are most likely 2 reasons for this, but they both are still because of the same reason. Let me explain. If you are new to the business, you may want to price your services low.  It is a great way to get business and gain experience at the same time. I stand behind this principle all the way. 

So, what if you have been in business for a while you raised your prices, but you just can't book as many clients as you would like?

This has happened to me often throughout my career.  When it happened, I did a few things, offered specials and discounts just to get the business.  It did indeed work. Then after a few months, I ended up regretting giving the discounts. I and my staff ended up working really hard, I still had to pay my staff and myself and did a high-quality job, but was disappointed that I got paid less than I should have.

Analyzing this, it is obvious that I placed the negative feelings on the wrong person, the client. It isn't their fault that I  undercharged for my services, it is mine. They paid the price I charged. I wanted to make more, but I was attracting people who wanted to save money.  Why was I attracting those people? So, what was the problem?  It was my marketing.  My marketing message was that we will save you money, which we do, but I shouldn't have made that the focus.  I should have focused on our experience, the ease of planning that we offer, the reduction of stress, the fact that we will take care of every little detail, hands-free planning.  That type of marketing will attract the people who want that type of service and are willing to pay the price it takes to provide that service.

Now, ask yourself, what message are you sending and what type of person is your message attracting?  If you can't get people to pay the price you want to charge, change your message and speak to those you want to serve.