Pricing is by far the topic you guys ask me about most, and with good reason - it can be tricky to get it right! Set the wrong price and your previously keen new client will suddenly disappear in a puff of smoke. In this post, I’m going to share how you can set prices that attract your dream clients.
Know who your dream client is
Let’s start with the basics! Being vague doesn’t fly when it comes to knowing who your dream client is and what makes them tick. Think about it, if you don’t know who your dream client is, how can you set a price that suits them?
Who is someone you’d kill to have as a client? Take the time to really think in depth about what their problems are and how you can solve them, as well as their values and how you can set a price that aligns with them. The best way to do this is by completing a customer avatar, which you’ll find in your free course.
Be confident in your prices
It’s oh so tempting to hide your prices and ask your clients to contact you before giving them a quote, or offer them a lower rate because you’re just so eager to work with them, but this won’t do you any favours.
Dropping your prices or keeping them hidden makes you look desperate and like you don’t have confidence in your services - and this will only attract demanding clients who don’t take you seriously or value your work. These are the kind of clients who accidentally forget that your invoice was due a month ago.
Your dream clients will understand the value of the work you do and how it will benefit them, so they’ll be more than happy to pay your asking price. Own your prices and put them out there!
Know how much money you need to make
Listen, you can’t provide the high quality services I know you’re capable of if you’re stressing out about whether you can afford to pay your phone bill this month. If your prices are too low you’ll be overworked, stressed and burnt out, and your potential clients will be able to tell.
Calculate your business and lifestyle costs and make sure that your pricing covers these and makes a profit. You can work this out by using financial tables, which are included as a resource in my free Discover Your Perfect Pricing course.
Remember that cheaper doesn’t equal better
We all love a bargain, but when it comes to your business being too cheap can be detrimental. While some clients can be swayed by a low price, these aren’t usually the ones you’ll want to work with.
Potential clients will be on the lookout for prices that are within their budget, but they’re also savvy enough to know that a crazy low price usually means a below-par service. You’re offering a high quality service, so price accordingly. This is why it’s so important to know your dream client inside out, so you know exactly what they value and what they’ll be willing to pay you.
So you see, it isn’t simply a case of making up a price and running with it!
It’s time to swap money stress for financial empowerment.
The Independent Girls Collective is a members-only platform to help smart women like you to take control of their finances and feel good about money.
As a member, you’ll get new courses, resources, live masterclasses and 1:1 coaching every month to help you manage your finances and provide the support you need to build a successful, fulfilling business that allows you to live the life you desire, as well as access to our supportive community of creative female entrepreneurs.