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Make Your Offers Irresistible with Value-Based Pricing
Manage episode 423957899 series 3522273
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One of the most common questions I get asked as a business coach is, "How do I price my services?" It causes stress and anxiety for many entrepreneurs so today I want to talk about value-based pricing and how value-stacking can make your offerings irresistible.
Value-based pricing is a strategy where the price of a product or service is determined by the perceived value to the customer rather than the cost of production or historical prices.
Adopting a value-based pricing strategy allows you to communicate the unique advantages and value-adds your product or service offers. This helps you stand out in the market and escape the price wars.
How to Implement Value-Based Pricing
1. Understand Your Client’s Perceived Value: Dive into the minds of your customers. What problems does your offering solve for them? What benefits do they value the most?
2. Stack the Value: When customers feel they are getting substantial value, they are less likely to question the price. To achieve this, provide additional resources, access to tools, or exclusive content that complements the rest of the package and addresses your client's needs.
Remember, the first sale you need to make is to yourself. If you're not thoroughly convinced about the value of your offer, it's time to reassess and add more value!
LINKS:
For a copy of Emma's book, 'Go-getter: Raise your mojo, shift your mindset and thrive' – https://www.emmamcqueen.com.au/book/
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