Your value is not important
Value pricing. There’s a big misconception with it. It has nothing to do with your value —or how you perceive your own value, or how your customers have to understand what you sell to show them how you justify your prices. Or how much effort you put into it. Or how cool you are. Or how great your work is. None of it. Take yourself out of the picture. Value pricing has to do with what your customer values —what they believe is important. Value pricing takes this factor and prices in alignment…
Not their job
Customers aren’t supposed to “see” “find” “figure out” what’s that that you provide. It’s your job to help them see that. You’re the expert at what you do; they, on what they do (and want). Make it simple.
Fast, cheap AND good.
Fast, cheap AND good. All of them. How? You might ask. Well, setting up the right frame. To have it fast, you’d assume time is the key element. But what if it’s faster than the others? To have it cheap, you’d assume how much you can charge in comparison to others. But what if you provide options (with a high anchor)? 150 000 is cheap —compared to 5 million. To have it good. Well, if you can’t deliver good, do something else. And if you can’t deliver good, say no. Small detail here: this can…
Either option is ok
No such thing as purpose branding. You either have it in your business or not. And either option is totally ok. You can have a business led by purpose or not. And either option is totally ok. Just have this in mind: if you do lead your business with purpose, purpose is the thing that drives and aligns all decisions and actions. Building a brand rests on your customers, not you. And it’s an effect, not a cause.
More on purpose
Purpose is not optional. It’s there with you. You never lost it (so no reason to “find” it). It’s what’s in you.
About 20…
“That’s how the super rich talk: they just say 5… 20…” Funny thing, that’s how your ideal customers also talk: in a natural way, with a big number, in terms of money. When you’re selling, you have to not think with your own pocket. You have to align with what they can afford and where they see the upside. Value is subjective. And the things they value, have a different appearance to what you see. Can you say to your customer “It’s $ 10 000” without giggling or breaking character? Try it…
Because we really love tattooing.
“I wanna get a small tattoo” Lowering your prices won’t make you close more deals. In fact, it could very well deter your ideal customers. Discounting is a bad idea.
That daily thing…
Look, this daily thing is a game-changer. In terms of: Expertise, it lets you go deep on things you love AND hate in your industry. For the ones you love, on how to make them bigger. On the ones you hate, on seeing ways to change the situation. Creativity, it pushes you to think deeper —and different. It helps you make connections you never thought of before. Deciding what to focus on (positioning/niching down/specializing), it gives you the freedom to explore all the different ideas you…
Prices and Inflation
A few responses re: “What do you do with your prices when inflation gets a 15% jump?” were in the lines of “I’ll raise my prices”. Makes sense. In a sense. BUT! What if you didn’t have to raise your prices, despite inflation? How would your customers feel about it? What do you think the effect on this would have on trust? What would you need to keep your prices without change in such scenario?
Inflation
If your country’s economy hits 15% inflation (in comparison to the last year). What do you do with your prices? Raise them? Maintain them? Lower them? Why? 🙂