Choosing the right price for your services, it’s scary
The most important thing when it comes to pricing is that you need to own your price, you need to have the confidence that what you created is worth this much.
You know me, I’m not very into the woowoo, but the truth is, your potential customers, they are going to feel that energy.
If you don’t put out the positive energy that your offer is amazing and totally worth it, if you are not confidently selling it, people are not going to feel confident investing in it.
I want you to price your online offers with confidence 💪
In this post, I’m sharing my pricing strategies with you, the mistakes I made, and what I’ve learned since I launched my first online course back in 2016.
Think About The Value Of Your Program
We’re not talking about the benefits here – not the number of videos, modules, or lessons – none of that matters.
The value is what gets people to buy – the promised result.
For example, if you teach people partner yoga, this could mean they develop a much better relationship, build trust in each other and are less likely to divorce. When you then know that on average a divorce costs people between $15,000 and $20,000, suddenly your program has a lot of value.
This shows that teaching people how to make money is not the only way to ask for premium prices.
A friend of mine is teaching people with anxiety and her program costs thousands of dollars and of course, people pay that! She successfully communicates the value of living a life without crippling anxiety. Her clients might only work with her for 3 months, but the benefits and value they get from the course will last them a life time.
Define Where You Want To Position Your Offer
Do you want to offer some of the cheapest, but most valuable products in your market?
Maybe you want to be on the high-end and offer premium pricing for your premium products?
Or do you want to land somewhere in the middle?
It’s good to know what people in your niche are charging, but it shouldn’t influence your decision. It might be that everybody else is charging very little, but this doesn’t mean that there’s no room for a higher priced offer!
It’s really about how you position yourself, no matter what else is out there.
Emotions play an important role in every purchasing decision that we make, so you need to tap into where you’re positioning yourself and what people may think of your services/products based on the price alone.
If your offers are too cheap, some people might subconsciously rule you out because they think it/you can’t give them what they want for that amount of money. They might think that with money comes value, and that the more they pay, the better service/product they will get.
So, when it comes to deciding where in the market you want to land, my recommendation is to look at the top, at the premium level.
I’m seeing so much competition on the lower priced level where you have free videos on YouTube, cheap online courses, low priced membership, and at this level, it’s all about price and trying to compete with everyone else offering similar things in similar price ranges.
If you go and take a look at the premium offerings and courses, you’ll find there really aren’t as many offers out there, and this shows that premium services in the yoga industry is such an underserved niche.
There’s a huge opportunity there for you to position yourself accordingly and ask for premium prices.
Where Does Your Offer Fit In Your Business Model?
Think about everything you’re offering in your business. Is this a starter online course or is it your signature program (usually a much bigger offering). This will also help you to choose the right price for your online course.
I would recommend that you start with a premium offer at a high price point, and when you sell that successfully, and you earn enough money to invest back into your business, (like hire support) you can create offers at a lower price point that are more accessible, if you so wish.
Wanting to create a smaller course, nothing too big, that’s playing small and giving into fear.
You need to be aware of when you’re giving into fear or have a coach who’s going to call you out on it.
This is what I do for my clients. We look at their business model, and the value they provide and where they position themselves.
Sit With It
The final step is to come up with 2 or 3 different prices and then to sit with them. Meditate on it, use tarot cards if you wish, write the price down or shout it out.
How does it feel? Deep in your gut how does your price feel?
Does it feel like you’re undervaluing yourself? Like if someone would buy your offer for that price you would feel like you’re giving it away too cheaply?
Or does it feel totally crazy, bonkers, way too big for anyone to feel that it’s worth this much?
It’s so important that you feel confident with your price point in your mind, body, and everywhere inbetween.
I want to encourage you to not to get lost in the fear of charging what you’re worth. You’ve got to have a real, honest conversation with yourself. If you don’t want to raise your price, ask yourself, “Why?”.
Finally, remember that you can change your prices. You can increase them, and you probably will. It’s okay to try things out and experiment and there’s really no reason to be scared of choosing your prices.
You can’t do it wrong because the most important thing is to just get started, to put your offer out there – you can always change the price.
Are you ready to start earning money online and launching your signature offer successfully?
If you want to elevate your brand and offers and build a six-figure business, you’re invited in The Mentorship.
The Mentorship is a 12-month mentorship program with unparalleled support for coaches and other service providers who are ready to elevate their brand, sell out their offers and scale their business to six figures.
What really sets it apart is that you get a ton of video trainings to help you implement things and take action, but you also get 1:1 coaching, group coaching, and personal feedback and critique for work you submit.
Go to www.susannerieker.com/mentorship and get all the details.