Don’t Raise Your Fees, Yet

You’ve seen those webinars, right? Some business coach scribbles some math and shows you how easy it is to do a six-figure whatever, all you need to do is to raise your fee. Then proceed to sell you some $997, $1,997 or $2,997 program.

So you bought the program, thinking there’s some magic bullet.

I have done that too. Quite a few. And they all boiled down to:

Figure out what you gotta sell, who you’re selling it to, and tell these people why you’re unique and relevant. After you created that package or whatever, smack a price tag on it, and then multiply it by X. That’s your new price, go get them, tiger!

Here’s problem #1:

You need a ton of discipline to stay honest and focused while you figure out what you sell, who you sell it to, why you’re unique, and how you’re relevant.

Even if you succeed in doing so (which makes you the top 1%) you still have to articulate it so your market can understand the value and pay you the money. Last time I checked, those online programs don’t write the damn thing for you.

What happens is that most people would go through the motion of trying to figure these things out or articulate their offering.

More often than not they aren’t 100% there yet but no one is going to stop them and point out what isn’t fully baked. Look no further than the half-done assignments on your hard drive.

(I also believe we’re constantly evolving and everything is work in progress. I mean it’s not fully-baked for who they are at that moment in time so they have a solid step for their evolution.)

Then comes the pricing module. So now people are essentially slapping a high price tag on something half-baked.

Creating something in total alignment and articulating its value and relevance is hard, compared to slapping a few numbers to those packages.

So guess what – half-baked offerings that aren’t fully aligned or well-articulated with a price tag you don’t feel good about saying out loud.

Without the confidence and alignment, there’s no way on earth you can sell it like you mean it. And a program or package with a high price tag ain’t gonna make you any money if no one is buying.

Anything times zero equals zero.

Here’s problem #2:

Sound bites are taken out of context trickle down to blog posts and podcasts, making people think all they need to do is to sit on their ass, do some inner work, and pump up the numbers.

“Charge what you’re worth” is the greatest offender of all.

Some business coaches try to sell their “high end” program by showing you how you can raise your price and “make your investment back” by just signing up 2 new clients using artificially inflated numbers.

Not saying you can’t charge that kind of money. I’m all for getting a fair price that reflects the value you bring to the table. But you need to be clear and confident about what you offer, and in how you articulate its value and relevance to your market.

This takes time. To do good work and build up the confidence, so your pricing is backed by an honesty that connects you with your work and your people to you.

Your honesty to yourself and your confidence on the value you deliver determine the price you can charge with alignment. When you charge with alignment, you get it.

Ling Wong:: Intuitive Brainiac | Creativity Mentor | Copywriting Alchemist. Author of Copywriting Alchemy: Secrets to Turning a Powerful Personal Brand Into Content that Sells.

Through her unique blend of marketing coaching, Content Experience Design and copywriting process, she helps the maverick-preneurs uncover, articulate & transform their WHY into content that connects, resonates and converts – by way of an intuitive yet rigorous iterative process born out of her Harvard Design School training and 15 years experience in the online marketing industry.

Ling is Inbound Marketing, Content Marketing, and Email Marketing certified.

She helps coaches, consultants, service professionals, solopreneurs and small businesses apply these best practices to their specific business models and circumstances.