Do you believe that lowering your price will increase sales?
If you’re launching your signature service for the first time or you’ve been in the game for a few months and not getting the sales you expected, this episode will help.
In economics, there’s something called the demand curve. It suggests that if you lower the price of your service, you increase the demand. But, what happens if you reduce your price to zero? Does this give you infinite sales? No!
It’s way harder to sell something for free than with a price tag. If I see something for free then I tend to stay clear of it and question its true value.
So, how should you go about setting your price? Tune in to find out more.
Key Highlights of the Episode
This episode was extremely actionable and insightful. Here are a few key highlights:
- A lower price doesn’t mean less friction – It’s normal to experience a lot of friction when you’re new to the market. While lowering your price may seem like a good idea to reduce friction, it won’t. This is a limiting belief that you need to overcome.
- Communicate your true value – When it comes to your service, you understand its true value. However, your prospects don’t yet understand this. It’s your job as a seller to communicate what you can do for your prospects in a way that they will comprehend.
- Don’t underestimate the importance of price – When it comes to sales, I believe price is the most important factor. It demonstrates the level of value your clients can expect. A high price tag communicates quality and attracts high-quality clientele.
- Don’t take the easy way out – Experiencing rejection and having prospects trying to haggle can be damaging to your confidence. Instead of taking the easy way out and offering discounts, you should enhance your ability to communicate your value.
- Raise your rates – If you’re lacking confidence and struggling to overcome sales objections then check out jereshiahawk.com/rightresponse. With the right attitude and tools, you can raise your rates and learn to become a beast at sales.
- And lots more! Tune in now.
Raising your rate takes more effort than just deciding on a new price. Then comes the work of addressing the objections, effectively articulating your value in your marketing content, and designing curriculum that delivers on the promise you sold the client into. Need some help with this?
Click here to learn more about how our LEVERAGE Method can help.
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This episode is brought to you by Leverage:
Today’s episode is brought to you by my group coaching program LEVERAGE.
LEVERAGE™ is a comprehensive, high-performance coaching program for expert service providers who are ready to reclaim their time and sustainably surpass 6-figures in the next 12 months.
If you know you’re ready to grow with less private 1:1 clients and more leverage with group delivery at a high ticket price point, we can help!
In order to do that, it’s time that you stop mimicking what you see other course creators doing. No more discounts, downsells or complicated webinars pumped with thousands of dollars in paid ads. It’s time for you to learn how to articulate your value, elevate your messaging and enroll $3k-$10k group coaching clients.
Every day, we help coaches and DFY service providers, like you, transform their 1:1 service into a SUSTAINABLE coaching business that is set up to automate the necessary aspects of your offer so you have the energy to show up, serve your clients and increase your business growth month after month.
Interested? Complete the Benchmark Assessment to help you pinpoint the exact gaps that currently exist within your business model.
Visit www.jereshiahawk.com/podcast-leverage to learn more and submit your application to receive the assessment today.