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What is it that you are using as a benchmark to decide your pricing? Is it market related? Is it based on the value that you are providing? Or is it simply based on what you think you can get? Often when I consult with clients one of the first things I do is look at their pricing and challenge them to increase it. This often meets with resistance. So many people believe that they will lose customers if they increase their prices. But is that really the case?

Finding the Right Price for the Value you Offer

Often business people simply place a price on their products because that is what they think people with pay. The problem with that is that you often have to churn out large volumes of that product in order to meet your targets. Raising the price of your average sale is one of the three simple ways in which you can grow your business. To be able to do that without putting customers off is simply a case of showing them how much value they are getting for the price. I have one client that is a massage therapist. Up until a point the average price she charged was just $70. After working through a program together we developed a new package that instead sold for $500. Now she was not a sales person and she had never sold anything for that price level before. But in the package she wasn’t just offering a single treatment, she was offering her clients a whole lot of added value. The amazing thing is that she went out there and promoted the package and got results.  With another client we worked together on her pricing structure and in just 6 weeks later she brought in revenue of over $25000. Developing a premium priced product is a way in which you can substantially boost your revenues. It is one way in which you can raise your prices without putting customers off. They will be so impressed with all the added value that they are getting that to them it will feel like they have still gotten a bargain.

How to raise your Prices and keep Customers

•    Know the value of what you are providing to your customers in terms of your time and expertise.
•    Believe in your products. When customers see the confidence that you have in what you are offering it will give them the confidence to believe that you are offering something of value.
•    Provide products that offer customers incredible value.
•    Make sure that you are able to demonstrate the value of what your customers will be getting.

Pricing is often one area where far too many business owners sell themselves short. Especially in the consulting industry, many people undervalue their expertise. Don’t be afraid to ask for your true value in terms of price. When clients see the results and the added value that your product offers they will often pay your price with a smile.

Tips for Setting Your Price is just one topic Bernadette Doyle is covering in her brand new FREE WEBINAR – Big Income Leaps.  Register here:  http://www.clientmagnets.com/bigincomeleaps/

SPECIAL ANNOUNCEMENT

One-time Webinar

How To Deliver Your Expertise Online And Get More Clients

Wednesday, 30th June, 2010
8.30pm GMT/ 3.30pm EST

You can have FREE access to a one-time webinar with myself and one of my VIP students, Nicola Bird. If you’re a coach, consultant or trainer you need to be on this webinar.   Nicola Bird will reveal how she used JigsawBox to generate an income stream of over $24,000 of revenue in one month.

Here’s some of what we are going to cover …

• The number one reason your business model means you’re not getting as many clients as you should be (HINT: 95% of solopreneurs are making this exact mistake!)

• The four reasons why YOUR COMPETITORS will soon be delivering their expertise online

• How to SAVE TIME AND MAKE MORE MONEY by creating ONE set of content and using this as the foundation of your business

• How to use JigsawBox as a perfect platform for upselling HIGH-VALUE COACHING and CONSULTING

• How JigsawBox can help you deliver your expertise online EASILY, even if you’re a complete technophobe!

• The ONE THING you must do with your JigsawBox to START ATTRACTING CLIENTS quickly

Click here to claim your VIP invitation

Best Wishes
Bernadette Doyle
www.clientmagnets.com