How to charge premium prices without losing any sales... and make high-prices seem cheap!

I do it, too. I never brought up pricing at all, though, until I got them on the phone.

I hit them high, and then gave them a "but if that's too expensive for your budget, I also have this available".

The secondary option fulfilled their true needs and took a couple extra options off the table.

They never really NEEDED the extra options, but they were nice perks to have, and the people who didn't balk at prices would readily buy the higher priced package.

For instance, in a contracting lead generation company I just sold I used the same strategy.

I told them $5,000 for a website, SEO package, Adwords campaign setup, and full call tracking.

Then I backed off the SEO package, and only offered the Adwords, website, and call tracking plus a 20% monthly ad spend fee for ongoing management.

My SEO package was priced at $500 per month, with 6 months up-front being included in that $5,000 price.

When they hear the $2,000 for a complete website, and lead generation system, they signed on board -- to the tune of an 80% closing ratio.

Contractors don't need SEO. They need the phone to ring now, in a way that can be tracked so you look like a stud.

"$2,000?!? Do you take Visa?"

They didn't care about reducing their lead costs over time with SEO, especially when I told them that they were going to be paying $30 to $40 per instant, exclusive phone call from people in their area.

Lol, you don't know who you are yet?

First you introduce yourself as a newb who made $ 12,000 in his first 22 days ...

Now you are a grizzled vet with 8 figure clients who knows all the ins and outs of the game.

And we're talking a span of like 2 weeks.

Pimping that mentoring/coaching program ain't easy, eh?

:-)

P.S. I think it's safe to say ... I need a time-out from the copywriting section of this forum.

This is called price anchoring.

Hi All,

One thing I have always found works for pricing anything.

Compare the price to something the client WANTS and is WILLING TO PAY TOP DOLLAR FOR.

For instance...like a doubling of their conversion rate, or a tripling of their lead gen numbers or more phone calls converting to sales, or a 40% increase in email click through rate, etc.

Or figuring it backwards, reducing their cost per lead by 50 to 100% or reducing the work/time they do to split test offers, headlines, or giving them 3 headlines to split test without charge, or 5 subject lines for an email so they get more value from the emails you write etc.

THINK OF VALUE ADDED SERVICES WHICH DON'T TAKE A LOT OF TIME OR EFFORT TO PROVIDE WHICH THEY WOULD LOVE TO HAVE YOU GIVE THEM AS AN INCENTIVE TO HIRE YOU.

Think outside the box and ask them what THEY NEED TO BE MORE PROFITABLE.

You will be surprised you don't have to give them as much of yourself and your time as you probably think you do to secure a substantial income with them as a client.

So when you put yourself in your client's shoes what would THEY WANT AND NEED YOU TO PROVIDE?

Then figure out how much they would be willing to pay - average cost per customer, lead, sale etc, which would STILL MAKE IT PROFITABLE TO HIRE YOU.

Working from this angle then makes the customer SEE YOUR VALUE - NOT YOUR COST and you set YOURSELF ABOVE YOUR COMPETITORS.

Then you are bargaining from a position of strength and value rather than being a price dropper and forcing you to be working for less than you and your talents really are worth.

You also want to post somewhere on your website/blog your continuing education, training, seminar costs, etc. which you paid to GET THE TOP QUALITY EXPERT KNOWLEDGE THEY SEEK.

When they see you paid $XX,XXX in the last 5 years to LEARN WHAT YOU KNOW then they value you as an EXPERT not as just another copywriter, marketing or coaching guru who has a lot of fancy talk but doesn't have the proof.

Same thing for your copywriting chops, be sure to get Conversion Proof Graphics (LIKE SCREEN CAPTURES OF LEADS/SALES/CONVERSION RATES) if at all possible and get a client release to use these graphics as proof you are a top rated provider a client would do and PAY MOST ANYTHING TO HIRE.

Remember... figure it all out from the client's side - what would you want if you were in the market to hire YOU?

Always have testimonials which say "this person helped me double my conversions, or reduce my cost per lead (or whatever)..."so the testimonial has a specific value attached to your services and proof you delivered on your promises.

Next, be sure and be honest and don't stretch the truth about what you can do, have experience with or can provide as it can catch you by the seat of your pants if you do this.

Clients also have an uncanny sense of when you are not 100% honest. If you don't have experience doing something they want you to do, like learning how to use Lead Pages or whatever special thing they want you to know.

Just tell them you are willing to do this other work and will research and learn how to do it because you want to do ALL THEIR WORK and provide a ONE STOP SHOP if possible.

Clients love working with providers who can help them take the hard work out of the work they need to get done and you want to be THE SOLUTION they've been searching for.

Now you can outsource certain things you don't do, like graphic design, programming, SEO, email copywriting or whatever, just be honest and let the client know you are doing this so if the work is not top notch they understand why and will cut you some slack.

Because if you don't you may end up refunding part of the payments you receive so just watch this and only work with top notch subcontactors you trust to deliver when they say they will.

Nothing will hurt your business credibility faster than having a subcontractor not deliver and make YOU LOOK INCOMPETENT.

If you decide you don't want to be a one-stop shop that is fine.

My business has changed over the last 16 years to no longer offering hosting or web development services (it is too price competitive) and I have focused the last 8 years on writing high converting video scripts and sales copy.

That is where my best clients are and I focus on health, wellness, survival and wealth generation copywriting.

My business changed and my focus changed and now I work and train harder on video script writing as this is what my clients want and need.

Be sure to be flexible with the times and stay current to changing marketing needs and redesign and structure your offers and services to match.

It makes common sense to hone your skills in a specific area (or areas you naturally feel comfortable in) and not be "a jack of all trades" because then you have a harder time making a name for yourself and rising above the "pack".

Think long and hard about what you want to be known for. Are you a small business coach? What is your specialty with small businesses?

Why would a small business want to hire you over your competitors? Be smart, think different and outside the box.

Are you a copywriter? Then what do you love writing about the most and have the highest paying clients in?

If you focus on honing and improving your skills and training on a specific niche you can raise your rates and make more money with less work with a higher caliber client.

These higher caliber clients are more than willing to pay for "Experts" in the field of work they are looking for and your business will grow by leaps and bounds as does your income you are earning.

After reading this post most providers/freelancers/coaches will find it makes you think a totally new way about how you feature and showcase your services, doesn't it?

Just be smart, be competitive (on value NOT PRICE) and rethink how you showcase the value of service you provide and then you can effectively price yourself and the higher quality value of your services in today's competitive markets.

Good luck to all on your business endeavors,

Jennie Heckel
3X Sellerator Copywriter.com