At a meeting the other day, a marketing consultant opened her talk by asking the group, “What are you worth?” She went on to discuss all the different ways we minimize our worth or discount our value in desperate attempts to close the sale. After all the pitfalls of pricing and selling were laid out, she closed the talk by asking again, “What are you worth?” The responses around the room were very entertaining as people began to realize or give themselves permission to adjust their prices to make a profit!
As a wakeup call for your own business, I want to give you some options to consider ensuring your pricing delivers the profitability you deserve.
1. Educate your customers. When prospects approach you or calls/emails you for an estimate/quote, this is a buying signal. They are telling you they are ready to buy and willing to spend money to purchase your expertise. – Provide superior service and they won’t look elsewhere and won’t blink at your price. Excellence is priceless.
2. Many prospects perceive value and price as equal. A lower price can actually hurt your credibility and sales because they associate the...
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