Client Magnets Official Blog

Question: What is your highest priced product or service?

Answer: It’s the ceiling on your income. Because whatever the actual price, that number is the most money even your best customer can spend with you.

Think about it. The amount of business that customers can do with you is limited by your highest priced product, service or program.

Stunning, isn’t it? Several years ago I realized that the way my business was set up, my best customer could only spend £400 with me. That sounds embarrassing now, because it was so simple and so obvious and yet I hadn’t seen it.

Maybe the most someone can spend with you is £100. Or maybe it’s £100,000. It doesn’t really make a difference. There’s still a limit.

And if you’re going to double, triple or quadruple your business, you have to push past that limit by raising the amount that people can spend with you. You’ve got to give your best customers more opportunities to give you money.

Typically that means creating higher priced products. But I don’t just mean adding on a zero to your price points, although that may help in some cases.

It’s time to begin creating real high-end solutions so people want to spend more with you. And so you can deliver a lot more value.

It is a different type of sell because you may be asking people to spend ten times more than they’ve ever spent with you before. But there is a way to do it that will bring tremendous growth to your business.

I know because I’ve done it. When I put together a high-priced coaching program, it increased my yearly sales by about 33%. I added over £100,000 to my business just by adding that program.

So maybe the only thing you need to do this year to skyrocket your income is to put together a high-priced program or develop a high-end service that your customers will want to buy.

Start thinking about it. Look at your highest priced product or service – really look, and see how you can take it to a new level. Make plans to create a really high-end product that your existing customers will pay for, and that will attract more new leads to your business.

And if you find that this is one area where you can definitely implement the changes that will help grow your business, stick with it. Concentrate on developing that new high-priced product. Make it your focal point, and watch your sales grow.

Bernadette Doyle is a small business marketing expert. Get more tips and advice at http://www.clientmagnets.com

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