Client Magnets Official Blog

Have you been thinking about raising your prices, but afraid that you’ll lose clients if you do?

You might think that if you know what your customers would be willing to pay, it would be easier to decide how much to charge. You wouldn’t be nervous about charging too much and frightening your clients away. If you know what they’re willing to pay, you can charge the higher price without hesitation, right?

Definitely not.

While finding out how much a client is willing to pay may seem like the simple answer, it is not an effective approach for setting or raising your prices.

If you approach pricing with that mindset, you will always be looking for the answers externally.  “What would clients be willing to pay? What are my competitors charging?”

These are not the questions you should ask. You are not a mind reader. You need to ask the question that you do know the answer to.

“How much value is what I’m offering worth?”

By asking this type of question, you are setting your pricing internally, instead of allowing someone else to make the decision for you. That is the real difference between people who earn big money and people who struggle. Your decisions on your prices come from within you.

You are the one who needs to answer that question. You are the person that needs to buy into an increase in your prices. If you buy into it, your clients will buy into it.

Your belief in yourself, your product and its benefits to clients will prepare you to set a price that both you and your clients are willing to accept.

To determine how much you are willing to charge, follow these simple steps.

1. Decide how much money you want to make.
2. Decide what your offering, products or services are worth.
3. Set your price accordingly.

If you really believe that what you’re offering is worth a price increase, clients who are in need of your services will continue to pay for it.

Some of your clients may go away if you raise your prices. “Amen,” I say to that. They are clearing the space for new, better quality clients to come in.

So accept that while you will lose some, you will also win others who will see your worth as what you’ve stated it to be.

Make your decision to set or raise your prices from a position of confidence in yourself and value in your offering. You are worth it.

Bernadette Doyle is a marketing specialist who helps entrepreneurs become client magnets and attract a steady stream of their ideal clients. If you’d like to receive invaluable tips and advice on how to attract clients with ease, register at http://www.clientmagnets.com

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