Let’s talk about pricing. There are a lot of different philosophies about pricing out there. Personally speaking, I feel that premium pricing is the best way for any health and wellness entrepreneur to grow their business. In this episode, I tell you how to come up with your premium price point!

 

LISTEN TO EPISODE 164 OF THE FED AND FEARLESS PODCAST

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Why Premium Pricing is the Way to Go

There are a lot of steps in creating a successful premium program. Pricing is one of the most crucial parts. There are a lot of individual factors in this. The type of people you serve and the problem you solve will drastically influence your price point. 

I talk about what to think about when it comes to the population you serve. Different people will be able to spend different amounts depending on various factors which you’ll need to consider. Also, you’ll want to examine the problem you solve and consider how high value it is.

 

The Many Factors Behind Your Pricing Structure

I can’t tell you what to charge. You have to decide that based on all that I talk about in this episode. It largely boils down to the offer you create. And pricing is part of creating that offer. You can’t just pick a random price without knowing your offer. Your offer is not only going to determine your price, but it’s also going to determine how well it sells. The more you raise your price, the harder it will be to sell, but it will be easier to make money because you won’t have to sell it to as many people. That’s quite the balancing act!

You’ll need to find the highest price point that sells well. This is because, if you’re new to the business, you’ll find it’s a lot harder to make money selling low-ticket services because you’ll need many more clients. 

To come up with your perfect number, there’s a lot to examine. This includes knowing who your offer is for and the specific problem you solve. You also need to know your potential for solving this problem and what you will do to help your client achieve success. Knowing all this will help you determine the ideal price point for your ideal client.

What struggles do you face when pricing your services? Leave a comment below! 

 

Got a question you’d love to hear me answer on the show? Leave me a voice message here!

 

IN THIS EPISODE

• The most important factors when identifying your premium price point [7:00]
• Understanding your value based on your skill level and experience [15:15]
• Creating an irresistible offer with your ideal price point [25:00]
• Making your offer stand out from the crowd [37:30]

 

QUOTES

“Your personal financial goals will impact what you charge for things because that’s going to help you work backward to figure out what you need to be selling, how much you need to be selling, and how much you need to be charging.” [14:55]

“I believe that you have to energetically match the amount of money you’re asking for. The way you’re going to energetically match it is by exceeding the value they are paying in the way you can serve and support them.” [22:10]

“You should feel like your customer is getting more value than you are when it comes to your starting price point.” [35:40]

 

LINKS

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