Business
Have you set a premium price for your signature service? If so, do you think it’s a good idea to dilute your services or offer discounts to get potential clients through the door? Breaking your signature service into little bits and pieces may seem like a good idea. It allows you to offer more products at lower price points. However, it’s not providing clients with the entire process. And the truth is: discounting your prices can destroy your sales in the long run. In today’s episode, I’m going to be diving into the three reasons why discounting can cause you harm and what you should be focusing on instead. Key Highlights of the Episode This episode was extremely actionable and insightful. Here are a few key highlights: Conveying confidence - If you’re discounting prices then you need to consider the message you’re sending to potential clients. By cutting prices, you’re suggesting that you’re not 100% confident that you can deliver the results you’re promising. Cutting into profit - Your job as a business owner is to generate cash flow and discounting reduces profit. Furthermore, if you’re slashing prices then you may start to resent clients that are giving less than they’re getting. Help prospects understand your value - How do you communicate a value that lets prospects know exactly what their return on investment will be? If they can’t see your true value then it’s your job to help them to see it. Enhance your positioning - If you’ve raised your rates then your positioning needs to be crystal clear. What makes you uniquely different from the competition? Your marketing needs to overcome the majority of sales objections before you get on a sales call. Believe in yourself - If there’s a part of you that lacks confidence then you have to stop making decisions based on fear and discomfort. If you’re selling a high-ticket item then you’re someone who knows the value you bring to the table… So start acting like it. Start believing in yourself! And lots more! Tune in now. This episode is brought to you by ACUITY SCHEDULING: Support for our show today came from Acuity Scheduling. We are all ready to make more money and serve more people, but if you are in an email ping-pong game with potential clients, struggling to schedule your next call, you need Acuity Scheduling. Acuity Scheduling is your online assistant, working 24/7 to manage your schedule. Click the link below and sign up to receive a 45 Day FREE TRIAL.