The lower your price, the lower quality of clients you attract.
Since the less you charge, the more they expert.
It is as if a world-class surgeon you were seeing offered you a coupon code for 50% off if you bought surgery by Friday, what would you think?
Albertsons might have your favorite cookies on sale, but if you’re an expert selling service– don’t use consumer tactics.
Am I right?
If you’re an expert double your price to get quality of clients
Resist the urge to discount your prices.
If you want to create urgency, instead of discounting, bundle your stuff with industry colleagues and promote events.
I see a lot of smart, good humans who are held back from raising prices because of a “mindset” limitation.
But never discount your price, lest you are willing to suffer agony.
Double your prices and watch your client satisfaction soar!
Guess what? Discounting is fear-based selling.
There is a smart way to a position as a “special” instead of a “discount”.
Your dentist has offered you lower rates because you do not have insurance, he did not offer you a coupon, so there is something presented in a way that does not feel like desperate or fear-based selling.
Similarly, if you have offered charities –a non-profit rate–. You didn’t use the word discount but made it clear that it is a special rate for their situation.
There’s a saying when booking bands and live entertainment. The longer they want us to play, the less they want to pay.
It could be that you make way more for 90 minutes at a theater than a 4-hour lounge gig.
It is totally fine for a launch with tiered pricing going up, like the super early bird, early bird, and then regular pricing, since it is an event.
There can be some percentage of the audience saying; they cannot afford your services, sometimes it has nothing to do with money, it is a white lie to avoid a potentially uncomfortable situation.
Instead of reducing prices to increase demand. Provide them unexpected added values to promote repeat customers and their recommendations.