How do you convince clients to pay your price? You give them 3 options that anchor your desired price.
Setting the price for your service or product as a self-employed person is tough. It’s hard to make an informed decision. Sure, you know pricing from a consumer perspective (and that’s part of the problem). But how well versed are you in pricing from the perspective of an independent worker, consultant, coach or speaker? You know, the seller side of things.
How Did You Set your Price?
I’m constantly surprised by how many entrepreneurs simply pluck their price out of thin air. Or, calculated their current living expenses added costs and call it a day.
Worse, are the folks who look at their competitors, just like the marketing gurus say, and use that price (or something close) with no real idea whether that price is converting or not. Seems very misguided for such talented, smart folks.
That’s part of the reason I developed 60 days to Better Profits: How to Set, Say & Get Your Right Price with less Stress & More Joy, my self-paced, home study course. I’ve used these techniques throughout my 18 years as an entrepreneur and they work.
Dumb Pricing Mistakes
I’ll be talking about how to use price anchoring as part of your meaningful pricing conversation on my training call. Turns out Derek Halpern of Social Triggers is also talking about price anchoring in his first TV show ever.
Have a look. Why not think out-loud and share in the comments how this would work for you as a self-employed person, consultant or freelancer when you quote your work.