Just so you know, I’m not cheap. I know putting it out there straight up isn’t the done thing, but I don’t mind telling you. The women coaches and consultants who read my blog, subscribe to my newsletters, and work with me usually know it too. And mostly, they love it.
If you do it right, I promise your tribe will love you for charging premium prices as well. Don’t believe me? Here’s 3 reasons why they will:
1) Premium pricing will let you deliver the service you’re really meant to deliver.
I hear a lot of women coaches and consultants who come to me for help saying ‘I have a problem holding back. If someone buys my budget offering I can’t help but still deliver my premium level offer.’ If that sounds like you: Beware. While you might tell yourself you’re being generous, giving in this way can quickly lead to resenting your clients. And that’s an awful place to be.
Premium pricing frees you from this – not only does selling higher value offers let you do the work you’re really meant to be doing with clients (so you won’t need to hold back!), when you’re paid what you’re services are actually worth you’re more authentically generous across the board. This generosity will flow to your whole tribe, not just paying clients. And your tribe will love you for it.
2) In the commercial market money can denote expertise.
Your tribe wants expert advice, support and/or attention – however that manifests in your industry. Premium pricing let’s your audience know that you have valuable expertise (and I promise you DO have valuable expertise!). Think about it: Would you rather hire the cheapest business coach, financial advisor, designer, health coach, social media strategist, or psychiatrist you can find – or would you prefer to work with an expert? These professionals help solve important problems for us; of course we want to experience/learn from/work with the best (or as close to the best as we can). Positioned the right way, your fees can let your tribe know that when they’re learning from you, they’re learning from an expert. They’ll love you for it.
3) Premium pricing models what’s possible for your audience.
No matter what stage you’re at in your business, you can always be a role model for someone else. Premium pricing let’s those coming up the ranks behind you know it’s ok to properly value your expertise and the results your clients achieve, as well as up-leveling their vision of what’s possible.
Are you personally more inspired and motivated by people in your industry charging cut price fees or those whose services are priced at a much more considerable investment? If you’re like me, not only have you joined the latter’s tribe, you can’t wait to check out their latest newsletters and offers. The same applies to your own community. Position your premium pricing the right way and not only will your growing tribe excitedly devour your content and offers, they’ll love you for it too.
As well as the direct financial benefits you’ll experience, premium pricing can drastically improve the relationship you have with your tribe. Authentically up-leveling your fees takes courage and know-how, but do it right and you’ll be more authentically generous; better communicate the incredible value of working with you; grow the size and engagement of your audience; and model what’s possible in your industry. When you think about it like that it becomes obvious your tribe will love you for charging premium pricing, doesn’t it?
I hope all these reasons resonate with you! Now I’d love to hear from you:
What’s 1 great thing that happened the last time you increased your fees?
PS If you’re yearning to let your inner expert shine and step up into more premium pricing, boy do I hear you! My ecourse, Packaging You, can help. Check out all the deets over on the official Packaging You page. There’s still time to get in with the early bird special and save yourself $300! #hellyeah
(This post originally appeared in the February 2014 edition of Designed2Flourish magazine.)
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