Why Pricing is Not Your Roadblock

Unless you’re a rare peacock that has more plumage than pluck, you’re priced too low. It’s a common problem. And it’s time to fix that.

One clarification…

I’m speaking to high-ticket, high-trust service providers. If you’re selling toenail clippers for turkeys, I’m sure you’re priced perfectly.

But the high-ticket service folks often underestimate their value.

We could talk about all of the reasons it happens… impostor syndrome, competition, sales are slow, etc. But it almost always comes down to one factor.

Fear is the primary reason we don’t raise prices when we should. ?

That’s an easy guess because fear motivates much of our behavior. The good news is that it also motivates much of your client’s behavior as well.

The key is knowing what scares them and removing that fear. The more you do that, the more you’ll get paid.

Here’s an example of what that looks like:

84% of the World Doesn’t Want to be First

Let’s start with a glaring example. Company sponsored health plan costs have been rising double-digit, year-on-year. I know a few people who are fixing the problem.

They are offering lower costs to the employers and zero-dollar deductibles to the employees. The employers are happy because they’re paying less. And the employees are happy because they have better health care without deductibles.

This should be dead-simple to sell… It’s not… and price hasn’t fixed it.

If price was the primary mover, then these folks wouldn’t be giving these reasons why they’re not selling:

“Companies need to recognize that they're the only ones who can fix health care costs and they need to change how they buy health plans.” – Health plan provider #1

“The only people who buy are the early adopters.” - Health plan provider #2

Fear is keeping their potential customers from buying. Early adopters will latch onto these plans. But 84% of the population is afraid of trying something unproven. So, they will continue to pay more for a solution that feels safer.

Worded differently… the fear of failure drives a willingness to pay a premium.

If that fear can work against you… it can also work for you.

Become the Proven Solution

It doesn’t matter if you’re selling health plans or hydroponic farming. Being the proven solution is the key to overcoming fear.

In some cases, it’s simply an issue with messaging. Many of the folks changing health care are “pioneers,” and they talk like “pioneers.” That scares 84% of the population, so change the messaging.

Many high-ticket service providers say, “if they only tried us, they’d know how good we are.” Yes, they would! So, what are you doing about that?

The mistake many high-ticket service providers make is directly selling their high-ticket service without addressing the fears of the unknown… the unproven.

So, stop that! Instead, sell them a mini project in the form of an irresistible First-Time Offer. When you structure it correctly, you move from unproven to proven… unknown to known… untested to tested. And the fear dissipates.

Quit trying to buy your way out of fear problems by lowering your prices.

Sell them a mini project and solve a real problem for them. Strut your plumage around magnificently for your prospect to see. And then get paid what you are worth.

You can learn more about First-Time Offers in my book, Make Sales Magical (available on Amazon).

https://www.amazon.com/Make-Sales-Magical-Faster-Higher/dp/1991123280/ref=sr_1_1