Have you ever wondered why you aren’t getting paid what you are worth? You notice other people who offer the very same products and services as you, getting paid a whole lot more; even though you are just as talented and experienced. What gives?
Maybe…
1. Your Brand Image does not match your pricing
Maybe you are charging high-end prices for products or services that are only ordinary. Or perhaps they are exceptional, but your personal brand is undermining your ability to command the prices your products or services deserve. Assess your image when meeting with clients from the clothes you wear to the car you show up in, from the print or digital marketing collateral and contracts to the pen you write with. Conversely, if you offer deep discounts, bargain prices, or cheap products but you are showing up in expensive attire and arrive at your meetings in a limo, that creates an incongruity that challenges trust.
2. Your Presentation does not meet the client’s expectations, answer their problems, or speak to their desires
Are you making sales presentations to your prospects without first learning what their needs and desires are? Do you assume you know what they want or need, and plow forward without stopping to ask relevant questions?
3. You are self-conscious when quoting prices
If you feel self-conscious when it comes time to tell your prospect or client the cost of products or services, you could be projecting your own feelings about it. If you wouldn’t dream of spending that kind of money on it, subconsciously, you believe that they wouldn’t either. Or you could be making assumptions about their ability to pay based on appearances and project the belief that what you’re offering is out of their budget. Maybe you don’t believe in the value of your offer. If the latter is true, you need to do some reflection and adjust something. You can adjust the price, the offer, or the quality… Bring things into alignment so you believe in your product or service and the value it will bring your clients. When you sincerely believe in what you are offering, the self-consciousness disappears.
4. You don’t have strong boundaries around pricing
Do you let your clients negotiate or even bully you around pricing? A printed or digital price list helps to keep the conversation around costs concrete and straightforward. When clients see prices in writing, it’s harder for them to push you around and easier for you to be confident in quoting them. Be professional and use branded forms for quotes and proposals with expiration dates so an indecisive client or prospect won’t come back weeks or months later expecting the same prices you offered before your costs went up. You can also offer a quote where the cost will be guaranteed until a certain date.
5. You don’t have a consistent system for pricing
Many professionals who offer custom services (such as design services) treat each project individually when pricing, trying to be competitive and agreeable to work with. The trouble is, they cut themselves short without realizing it until challenges pop up such as shipping costs, replacements on items with mistakes, substitutions for items that are discontinued or back-ordered, etc. To avoid situations you should create a printed or digital price list to work from.
In summary, to boost your ability to be paid what you are worth:
- Your brand image should be in alignment with your pricing structure.
- Get to know your prospect’s and client’s needs and desires before you begin presenting your products, plans, or offers.
- Don’t sell things that you don’t believe in.
- Use written quotes, proposals, agreements or contracts.
- Create a pricelist for your products and services to work from when quoting or making proposals
Copyright © 2011-2023 by Cheryl Craig | Enchant Your Brand, LLC