Know Your Worth and Charge Accordingly

A potential new client contacts you full of energy and questions. You exchange words, emails, even social media posts. Every question they ask is answered professionally and promptly. Question after question comes, and you enter the realm of services for which others pay you or your company.  You inform them of your prices, send an invoice even, or direct them to the site where they can make the purchase…..crickets.

Part of being an entrepreneur is being comfortable in your pricing, having someone get to the point of purchase and not follow through can be discouraging. It may cause you to question if you are overcharging or due what you are asking.  There’s an introduction stage for everyone and you should always be aware people will always take free over paid. How do you avoid what could be potentially uncomfortable and receive your due?

Here are a few tips:

1) Do market research. It will help you build confidence in your asking price if you know you are priced fairly according to the current market.

2) Have a boundary line. General questions are great and often a description of your product will answer those questions for you. Sometimes though potential clients may need a little more clarification. Recognize what is a general question and what is someone taking advantage. Have a set of questions you answer, anything that crosses into product specifics should be directed to purchase. Don’t get caught up in giving so much information that asking to be paid for your services becomes uncomfortable.

3) Stand firm. Don’t back down or feel a need to give a discount or freebie just to gain a sale. Fluctuations can be seen as a sign of brand weakness (this is different from planned sales), and often if someone thinks they can talk you into a lower price they will.

4) Well “insert name here” sells it for “lower price.”, great let them go to whoever. Know your worth and don’t let anyone let you think it’s less. You get what you pay for.

Hope this helps! Let me know what you guys think and any other topics you’d like me to cover 🙂

Happy Branding!!

Cici.

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