If you ever struggle with charging what you’re worth… wonder how to price your service, speaking, coaching or consults… or feel like you’re working TOO HARD for too little, this post is for you. But, first, read my 2016 “deep dive” on price, as it will help prepare you to take action in today’s article. In the next few minutes, you’ll learn
- First, HOW to create a premium offer; and then
- WHY to create a premium offer.
Let’s dig in.
I spoke with a WomenWhoWOW member a couple of weeks ago and we were strategizing her “premium price” offer. She was struggling with creating a premium price and I gave her the following advice:
First, let’s focus on packaging the premium offer. Package this new offer to give your best clients outrageous value. LOAD the offer up with value.
We created her premium price offer in an “infomercial”-like way. (BUT that’s not all… You also get this, this and this!) She was getting excited. She got creative and began stacking her offer with “extras” to give unparalleled support to her future premium clients. Soon enough, she had a premium offer LOADED with value.
And then she hit me with it. She wanted to price her premium offer — chock full of insane value– at about 20% higher than her standard fees. Of course, I couldn’t stand for it. (And, incidentally… neither would her current clients. She’d have them ALL upgrading to premium offer and MAD they’d gone without this offer for too long.) Having your clients upgrade to bigger packages is one thing… but delivering ALL she’d built into her premium offer … for just 20% more than she was already charging? She’d be overworked and underpaid. And she’d grow to resent not only her premium offer but her clients as well.. which brings me to what I said next:
And PRICE so that you’re sure to be excited about the work.
All of the sudden, a new price came out of her mouth. A fee she thought was “outrageous,” a fee that she thought NO ONE would ever pay. So I asked, “Do you think the fee is as outrageous as the value you built into this offer?” She paused for a long time. Because, yes. The value and the price were a fit.
Perfect.
Still, though, that offer she was so excited about before… the offer she thought ALL of her clients would really want… was now priced at a level she thought NO ONE would ever pay…. which brings me to the most important thing I said during our conversation. It’s about the WHY behind a premium offer.
You want to create your premium offer so “premium” that you are convinced no one will ever say yes to it. That’s how you know it’s TRULY a top shelf offer. Sooner than you think, someone will say YES to it. But, for right now, before ANYONE ever pays you that fee, here’s what it does for you:
- It positions your standard fees as a bargain… a steal… and
- It speaks accurately of YOUR value…
Of course, not long after she invited a few of her long time clients to consider her premium offer… one said yes. This always happens. So, what will go into YOUR premium offer?
