February 9, 2022
Value pricing won’t increase your income, if...
Folks often ask me some variation of the following question:
Will value pricing work for someone like me?
My answer is this:
Any professional expertise can be value priced.
If you’re not currently delivering results that your clients value greatly, then value pricing alone isn’t going to increase your income.
Because if the value that you deliver is low, then by definition, the prices you set will also have to be low.
(REMEMBER: With value pricing, you set your prices based on the value to the client, not the cost to you. Therefore, low value always equals low prices.)
Here’s the thing...
If you set a price for a thing that is more than what the thing is worth to the client, they aren’t going to buy.
Figure out how to use your expertise to deliver high value results to clients.
This might mean targeting a new kind of client and/or packaging your expertise in a new way and/or finding a new way to differentiate yourself from the competition.
Once you do that, value pricing is a really good way to increase your income.