What Do You Charge?

Deciding what to charge clients is a complex process based on factors including cost of goods or services, overhead and business expenses. Lately there is a lot of talk about charging a client what you think you’re worth, which seems vague and possibly self-defeating. What you charge should probably take into account your value to them!

In addition to the above factors, the price you charge depends on the following:

  • Who you attract. Price according to your target clients. If you market to upscale clientele your prices should reflect that.
  • Effective sales process. Define the sales process and make sure it works smoothly every time. Many of us have left a business frustrated by not being able to make a purchase simply because of the inability of the salesperson to take an order, ring it up and deliver. It may seem simple, but make sure your sales process is clear and functional.
  • Persuasive sales language. Using persuasive sales language creates images in prospects’ minds of what they can have by choosing you. A positive image will result in them choosing you and willingness to pay more for what they expect.
  • Congruency of the movie in their mind. Some prospects have a mental image of what their experience with you will be like before they even meet you. Living up to this expectation underscores your value.
  • Be honest about what you can or can’t do. People will pay more for honesty and accurate results.

I would welcome your thoughts and insights on this topic! What factors influence your pricing strategy?

Kind regards,

Heather

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