Pricing

INSIGHT

What you price your product or service at is SUPER important. Like anything within your brand everything has to connect & have flow to it.

Your price has to reflect your brand, & what you’ve created.
The most important thing is that it has to align with who your Dream Audience is - otherwise you won’t sell anything !

Pricing your product or service I think is one of the hardest things you have to do, & it’s something that mostly reflects our money mindset, which is how we think about money, & also how we think about ourselves.

It also has to align with your Dream Audience !

If you haven’t defined who your Dream Audience is yet then you NEED to do this step first bcus everything comes after this stage, & if you don’t know who your Dream Audience is then it will be really, really difficult to sell to anyone!
Do this HERE first

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Discretionary income is the money left over after taxes, bills, housing & food. So what’s left over is the money people spend on, let’s just say, fun stuff haha, or actually in some cases more ‘important’ stuff.

So you’ve defined who your Dream Audience is….

1. Less affluent Dream Audience
If your Dream Audience hardly has anything left over once all their bills have come out, then this is an indicator of how much you need to price your product, your not going to be anywhere near a luxury/quality brand (& btw there is nothing wrong with this! Your offering needs to be helping a certain person, if they are in the lower income end, then everything needs to reflect this, & relate to them)

Can you add a payment plan to make this easier for them to buy? Is it a subscription service? Can they buy into it in stages?
You know they NEED what you have to offer right, so how are you going to make this accessible for them?

It’s not ever about bankrupting your Dream Audience, or making them skimp on their food shop for the month - think about your values & beliefs here! = It’s about aligning the price with what they can afford, with the money they have available.

Now you have the above in your head. Ask yourself these questions -
▾ How much time did it take you to do your training?
▾ How much experience do you have?
▾ How long has it taken you to create your offering?

These are also aspects that influence how much you charge for your offering, it needs to be a balance!

You may have to change your Dream Audience, or change your offering slightly to adapt to either or. But the above are things you need to put into consideration.

You know who your Dream Audience is.
You know what their discretionary income is.
So you know they have quite a bit of money left over at the end of the month.

Also important, & i’ve literally said this phrase to my clients before lol “Your not offering shit - i.e. you’re not charging all the money in the world for nothing in return!” They actually need what you have to offer, you are improving their lives, you are helping them & transforming them in one way or another.

You’ve worked damn hard to get to where you are, you’ve done training, courses, you have experience, a depth of knowledge within what you do, it’s taken or takes a bloody long time to create or design what your offering, you’ve tried & tested, failed, & suffered along the way. The skills you’ve acquired have taken time, effort, sacrifice, & for some of you the items you have to purchase to create your offering are expensive!

Charge what it is worth !
Charge what YOU are worth !

So by charging a CHEAP price for your offering you are CHEAPENING your brand as a whole. You will be known as a cheap brand which means you will only attract the people that like cheap things. (this is all phycology; it’s not like ppl will be talking like this (well they might lol), but it’s the buying power of people, it’s the way people are inclined to buy from brands)

Ppl relate themselves to certain brands, brands make them FEEL a certain way, it expresses particular emotions within them.

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REMEMBER
your audience is affluent !

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They want QUALITY, they want the BEST !
They are willing to pay for this, bcus they know quality costs money.

Did you know that people will actually be put off purchasing from a brand bcus they think they’re cheap, & they don’t want to be known, seen or heard to be involved with them. (this isn’t just about what others think about them, it’s also what they think about themselves, & how they perceive themselves)

My clients who have already surpassed this section in my mentoring programme, know how AGAINST I am about sales.

Every single girl that’s done this section, which is all about nurturing your Dream Audience has mentioned discounts not only once, but wayyyyyy more than once. It’s like you feel that the only way you can say thank you, or show your appreciation, or want to give them a present, or want them to come back to you…. is if they are offered a discount!

& i’m here to tell you that this is very far from the truth!

What I have mentioned above when it comes to pricing your product or service cheaply, it’s the exact same as SALES !

▾ It cheapens your brand
▾ It attracts ppl that will only buy if something is cheap
▾ It keeps them waiting to buy from you until you have another sale
▾ Yes, it can make you sound desperate! We don’t want that!

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Remember, your affluent audience wants QUALITY, they want the BEST !
They are willing to pay for this full price, & at the price it’s worth, bcus they know quality costs money = they want quality in their life !

Along side those questions above, a great thing to do is to see what your competitors are charging for their offering. This isn’t a chance to copy, this is just to see, give or take aspects & to give you an idea surrounding what others charge. Remember competitors are not your competition, they are others that you aspire too, & who do something similar to you with a similar Dream Audience.

What I did
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