How do I know the right price to charge for my offers?
‘How do I know what to charge?’ is a question asked by our clients ALL of the time.
“What if this is too expensive and nobody buys it?”
“What if this is too cheap and everyone thinks it’s got zero value inside?”
“I’ve been told I should charge X but I feel uncomfortable saying that price”.
You get my drift…
First and foremost, it’s important that whatever price you choose for your products or services, the price feels good to YOU.
(Want to know how we pick our prices over at Social Cactus? Check out our post on IG here).
At the end of the day, it’s YOU that has to sell it.
So if you’re charging 3x the amount you ideally wanted to charge because your coach told you to raise your prices or, one of your best friend’s neighbours said they would have paid double but you feel mega uncomfortable and uneasy about it, then Houston we have a problem.
Why?
Because that energy will show to your potential clients.
We can tell a mile off if you feel uncomfortable talking about your prices.
Have you ever been on a disco call and put off telling them the price until right at the very end and then pretty much mumbled the price through fear of them laughing in your face or gasping in shock?
... We thought as much!
And this is the issue with knowing the perfect price point.
We are so heavily influenced by others' opinions, judgements, and ideas that we often lose sight of the prices that feel good to us.
Show of virtual hands, have you ever said any of the following whilst on a disco/sales call:
“My price is usually X but for you, I’ll only charge Y”.
“This package includes 10 calls but for you, we can do 2 bonus calls.”
“I don’t usually offer payment plans but in this instance, I can offer you a 5-year payment plan.”
Hopefully not the 5-year payment plan as we have more problems on our hands than just pricing…
Here’s some tough prickly Cactus love: We will bet our bottom dollar that the pricing panic that you’re having is related to some underlying money mindset issues *especially* linked to what you think you’re worth.
*Mic drop*
The good news?
If that was a money mindset mic drop, I have JUST the thing for you in this article here where I speak at length about banishing your limiting beliefs around money and how you can do it too with my simple step process.
The other good news?
I’m going to give you some journaling questions below to help you find your perfect price.
1. When was the last time you increased your prices? What’s stopping you from increasing them again?
*Hint: If you haven’t increased your prices this year, then that’s a sign we’ve got work to do my friend!
Ideally, you should be increasing your prices every quarter at the least - this doesn’t have to be a huge hike, but between 5-10% is completely reasonable.
Other occasions you may want to increase your prices could be if you’ve up-levelled or up-skilled, you’ve already launched this particular programme and have a tonne of social proof from your raving fans or you’ve invested in your business in a coach or mentor that will help you ramp up your results and skyrocket your strategy which in turn will positively impact your client’s business too!
2. The prices you currently have now, on a scale of 1-10 how comfortable are you telling them to potential clients? 1=Terrified / 10=piece of cake.
If below 5 - What feelings are coming up for you when you say your prices? What’s your biggest fear?
If 5 and above - What makes these prices easy to talk about? What’s your client uptake rate roughly?
*Hint: If you’re not getting any No’s then again, that’s a sign prices need to go up. Why? Because you shouldn’t be affordable to EVERYONE. A mixture of yes and no’s means that you’re at a competitive rate.
3. What do you bring to the table? Why are you the expert at what you do and why should people pay you?
Don’t be shy - we’re all friends here and if you won’t sing your own praises then how do you expect your clients to?
4. Find a figure that feels ‘ok’ for you to say out loud without holding your breath BUT also feels a bit stretchy - that’s your sweet spot!
And as another little gift for you, Cactus style…
Have you nailed the low ticket investments and now want to move into higher ticket but have no idea where to start?
Our FREE high-ticket mini-course can help!
Jam-packed full of guidance, knowledge and strategy, we’re here to help you go from overworked and underpaid to charging your worth and scaling your business with ease!
And it’s completely and utterly FREE.
Grab your FREE spot inside here.
