Do you know why people who pay a premium rate for an event or training have better results than people who just attend a free and/or cheap event/training? At first, you are probably thinking that the paid version offers more steps or more information. On some level that might be a factor. Yet, here's the truth: People pay to PAY ATTENTION. And I'm not just throwing random information out there. I'm speaking from personal and professional experiences.
I've had the opportunity to work with some great masters of their craft. The pricing for their services was way way way…did I say way below industry standards, even though they provided the exact and in some cases an even better result. Yet, before I would hit the buy button, I questioned whether they were actually "good enough" to produce REAL results. Why? Because cheap is not appealing. Sometimes it can be a turnoff. When I entered the program, I would skip my sessions whenever I didn't feel like it. Why? Because the cost didn’t COST me anything. I didn't feel like I was missing an opportunity because I knew I could just buy it again whenever I wanted it. I also became hyper-aware of all the inadequacies in their tools, processes, and operations
On the other hand, I've paid some pretty pennies for some amazing programs and services. And I can tell you that because I made such a lofty investment, I showed up for EVERY session. Not only did I show up, but I also did the work. Why? Because on a subconscious level I knew I needed to see a return on my investment. Just like the cheaper service, I noticed the tools, processes, and operations. And here's what I learned….they were better. And because those things were better, it made my experience better. I noticed that my Coach was more energetic, fully present, and my processes were flawless.
So here is what I discovered. The price wasn't just based on the information. The price was based on the experience as well. The higher-priced program invested in better tech, staff, and backend systems. And because my experience was better, I was a better participant.
These two vastly different experiences are why I teach my clients to price their products/services right, not cheap. The goal is not to be the cheapest, there is no reward or gold star for that. The goal is to price it so that you can grow and deliver a top-of-the-line experience. Therefore you may need to upgrade your tech, hire some assistance, or invest in higher quality products. When you invest in your business, your customers can see and feel it. When you charge properly, you are not hustling, which makes you well-rested. When you are well-rested, you show up fully present. And this is what people are paying for.
Here's what I know for sure, people will PAY to PAY attention to EXCELLENCE. So I'll leave you with this….if you're pricing is not allowing you to invest in yourself and/or your business, you need to reevaluate your pricing structure.
WHO AM I?
I’m Kandis Troutman, The Creative Architect. I'm a mother, teacher, and spiritual seeker focused on purpose walking, and serving others. I help women activate their God-given power so they can transform their purpose into a prosperous business.
Thanks for reading my post. I try to publish new posts weekly, but I believe in leaving room for God, which means there are no guarantees. But check in often and let me know what content awakens your spirit and I’ll be more than happy to share my experiences.
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