In today’s episode, I’m speaking about raising your prices and still providing awesome value for your clients, so let’s dive in. I want to talk today about an exercise that you can do which lets you raise your prices pretty significantly but still feel like you’re providing great value to your clients, and they feel like they are receiving awesome value as well.
I know that when it comes to thinking about raising our prices, it can be a bit scary, so how can we do it and actually feel really, really good about it and feel like it’s a win-win for both parties? What I want you to do is start by writing down every single thing that you deliver at your current price point. Write down your current price point and every single thing that you deliver to your client for that price.
Now, it might be stuff that you don’t even tell them about that you do anyway. I want you to write down every single thing that is involved in delivering that service to that client at that price point. Once you’ve got all of that down on paper, what I then want you to do is I want you to double the price, and then write down everything that you would deliver if that price were double. Okay?
So it will probably include all of the things that you’ve already written down, and then usually some extra stuff too. Write down everything that you would include for that doubled price, and then once you’ve got all that written down, the next thing to do is double that price. So now you’ve got a doubled doubled price, because you doubled the price the first time, then you doubled it again.
Now I want you to write down everything that you would be able to deliver that would be possible to deliver for that doubled doubled price. Write down everything that you would want to include for that doubled doubled price. Then once you’ve got that, so you’ve got your three lots of prices and your three lots of services essentially that you’re going to deliver for that, I want you to see if you can work out a way in order to deliver the things that you wrote under the top level, the double doubled price, for the price of the middle one, so the doubled price.
You want to be delivering the double double value for the doubled price. In that way, if you can work out a way that you can do that, that you can do that profitably and you can feel really good about that, then you can straight away double your price and you’re quadrupling your value to your clients, which makes it an amazing experience for them as well. So they are still getting huge, huge amounts of value from you. They are paying double, but they are getting quadruple value. You feel good about the price, they feel great about the value, and it becomes a massive win-win situation for everyone.
I hope that this episode has been useful for understanding how you can raise prices and still provide awesome value for your clients. So thank you so much for listening. Until next time, let’s find the clarity in your numbers, increase your wealth, and get more money in your pockets.