Be less anxious when justifying the pricing of your services to clients – Online workshop
DOES THIS SITUATION SEEM FAMILIAR TO YOU?
- “It feels uncomfortable when clients tell me we are more expensive than our competitors. Even if we offer superior benefits. They may not be aware of all the unique value we provide.”
- “We always have to justify our pricing. Our business cannot grow if cannot charge the prices we wish to charge. But how do we identify what to focus on so that we’re seen as being different?”
Highlights of the discussion about the 2-hour workshop (7 minutes)
- THE CHALLENGE WE ADDRESS
- WHY YOU SHOULD USE THIS
- WHERE YOU CAN USE THIS
- HOW THE PROCESS WORKS
- WHY YOU NEED THE VALUE STORY BUILDER
- OUR EXPERIENCE
- ESSENTIAL REQUIREMENTS & FAQ
“IF YOU THINK IT’S EXPENSIVE TO HIRE A PROFESSIONAL TO DO THE JOB, WAIT UNTIL YOU HIRE AN AMATEUR” – RED ADAIR
Are you anxious when a client asks you to justify why you charge so much?
- Do your clients hint at getting a lower price?
- Do your clients ask you why you charge so much. Even though you may deliver great value that your competitors may not match.
- Do you find that you get flustered when you get asked for a price justification when you least expect it, and cannot provide an appropriate response?
- What do you do now?
Here’s the problem you face
Most of the time, you come up with your price by doing what everyone else is doing.
- Like observing what your competitors or peers are charging.
- Or, working on a cost-plus markup basis.
But clients don’t really care about what your cost is.
- They may not even think what you’re selling is worth the price, since they cannot appreciate the value of what they’re getting.
- And your competitors may be doing a better job of explaining why their offering is different and is worth paying for.
It feels uncomfortable when clients tell you, or hint, that you are more expensive than your competitors.
- You find you get flustered when you get asked for a price justification when you least expect it, and cannot provide an appropriate response.
- You feel frustrated since you do provide lots of unique value.
You have difficulty identifying what to focus on as an explanation, so you’re seen as being different.
- And how do you explain it easily, especially when you’re cornered without warning by a prospective client looking for a lower price?
- Or when clients ask you why you charge so much. Even though you may deliver great value that your competitors may not match.
- Or when clients hint at getting a lower price, to try their luck at getting a price reduction from you?
After that, it’s difficult to get new ideas to justify your current price, never mind a higher price.
- And you may be running at lower margins with longer hours just to stay afloat.
- And your competitors are getting the clients you hoped to have. Some at far higher prices. And they have more free time than you have.
- And you cannot figure out how they’re getting those prices.
Which means you face growth and profitability challenges.
Sometimes it even means you will go out of business.
Changing the conversation by being able to show benefits that make a connection at an emotional level makes it easier to justify your prices.
- It helps you get and keep your existing clients because they believe it would be difficult to replace you. Because you are different and have fewer perceived competitors.
- And you get to charge a higher price.
- And you get more free time for yourself. Instead of being at work all the time, trying to get more work done to cover your lower margins.
Research shows that between 93% and 97% of decisions are made subconsciously, at an emotional level.
- It’s done using “gut feel”, and rationalized afterward to seem like it was based on a logical, rational thought process.
- It’s normal and we’ve probably all done this.
- You may have heard the famous advertising adage: “Sell the sizzle, not the steak!” This shows that purchases are made based on how people want to feel as a result of the choice they are making. If you can make them feel more secure, it becomes difficult for them to reduce that feeling down to a price.
Unable to communicate unique benefits at an emotional level? You will likely not be seen as different, relevant, and valued.
- And you will be ignored.
- And you will lose out on sales growth and client retention as a result.
- And, you will probably have to charge less to compete (assuming you’re still in business).
You try a variety of ideas you’ve seen or read about.
- You’re spending more time writing more messages and spending more money on ads.
- But, it’s still not working.
- You know that a different approach is necessary.
- What direction do you take now?
Here is how this solution works
Let me introduce you to our online workshop to help you create a message, within 2 hours, to show how your business adds unique and relevant value, so you can justify your pricing, even if you have limited marketing experience.
Here’s how it works:
We use a structured approach inspired by brand persuasion specialists.
- It promotes different thinking to help you become more persuasive.
- It allows you to identify what makes you different and valuable.
- It helps you put together what you need to say in a way that is easy to communicate when you need to provide a price justification fast.
It enables you to have a valuable addition to your existing approach, conveniently, within 2-hours.
- Rather than spending hours or days trying to research a solution for yourself.
- So that you have an idea of how to communicate why you’re worth the price by the end of the session.
This means you use an approach that could help to swing a client’s decision your way. And you find out how to do this in only 2 hours.
But, we know that you would also want to leave the workshop with a toolbox. So that you can replicate what you have learned afterward.
That’s why we show you how to use The Value Story Builder as a part of the workshop process:
- It’s our online tool to work on your unique value-based communication strategy.
- So that you have a value-based message that helps you connect with clients at an emotional level.
- This means that clients appreciate the value they are paying for. Because it feels right. The value they previously may not have been aware of. So that your price feels justified.
- This also means unique value-based benefits, so it’s difficult for clients to make comparisons to lower-priced competitors. So you have less competition from a client’s perspective.
- But, it’s also about being able to use this tool to develop messages that you can use proactively ahead of time. Like in an email campaign. Or your social media posts. So that a client will be less likely to ask you to justify your price in the future. Because they will be better informed about the extent of the value you deliver.
- Red Adair, an innovative American oil well firefighter, was noted as saying “If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur.” You want your clients to feel this way without even having to hear your price justification.
Access to The Value Story Builder is purchased separately from the workshop.
- It is made available, at a reduced price, for a 30-day period, when purchased with the workshop.
- So you can keep using it for a month after the workshop, and renew your access to it if you find it delivers the value you were hoping for.
Here’s how it works…
It helps you think about what really matters to your clients. Then it links this to your solutions and the emotional benefits you wish to associate with whatever it is you are selling.
- So connecting what’s important to clients with the value you deliver becomes easier for you.
- This means an opportunity to prove greater value, create a perception of being unique, and justify your pricing.
It provides a researched list of thirty-three issues people deeply care about.
- So you can consider the things that keep clients awake at night.
- So you can identify opportunities and solutions to deliver value that are relevant (and make the price less important in the bigger picture).
- So that your thinking is always value-based.
- This means you can focus your time on building a comprehensive list of value-based messages that are more relevant, at a deeper level, for faster results.
It uses a structured approach inspired by brand persuasion specialists.
- So you are guided to focus on the message content that really matters when it comes to being seen as valuable.
- So you can communicate your value-based strategy more effectively, so you can justify your pricing.
- So that the potential of losing that value tugs at clients’ heartstrings. Because they are anxious about the loss they may suffer without it. And then pricing becomes a secondary issue.
But, it’s better to demonstrate value ahead of time. So you won’t be asked to justify your price. This helps you do that so you have less work to do when using the output for building a value-based strategy framework in all your:
- Sponsored ads
- Unpaid posts
- Email content
- Video content
- Live streaming topics / Webinars
- Website content
- Storytelling and case study material
- New business proposals
- Annual pricing reviews
It provides a framework to store relevant information – which is pre-completed with useful ideas – that you can then customize for your situation.
- So you can back up your claims;
- and refer to your products, services, or market segments relevant to the solution;
- and consider the emotions you wish to inspire to get you to a sale faster;
- and consider the communication channels you wish to use
as you develop each message without having to tediously rewrite it each time.
This means you have less frustration with the little things that slow down your progress when trying to plan how you will build your value-based communication strategy.
It provides an easy way to develop your ideas and review them as you put all the bits together.
- So you can build a value-based messaging strategy in one sitting if you have the time.
- Or, plan value-based messages one at a time, as and when you need them if you only have 30 minutes to spare.
- This means you can work around your schedule while being reassured that what you are working on makes sense.
It helps link your ideas to one or more client segments.
- So you can direct your value-based message to those who are concerned about the places where you add value.
- This means that you have more confidence in targeting the right people with your value-based messages.
- A value-based strategy also means you can grow your market by packaging the right benefits each segment desires at different price points. That way, you can justify your pricing using relevant benefits.
It allows you to share the output with your Agency or freelancer.
- So that you know the value-based messaging ideas that have been created with your industry knowledge are relevant.
- This means you can avoid some of those lengthy strategy meetings while still building a value-based messaging framework to justify your pricing.
The research behind this
We have worked on over 70 global and local B2C and B2B brands since 1999.
Clients have included Fortune 500 companies across a variety of industries.
While helping them to grow their brands, sales, and client loyalty, perceived value versus price was always an issue.
- We had to find ways to show how our clients’ solutions exceeded the price they were charging.
- This required a value-based pricing approach within our communications strategy.
As we were able to see what worked for our clients, we started to identify the essential components.
- We further researched the topic and combined it with our own experience to define 33 concerns that clients typically have.
- These may be concerns that clients are currently facing where your solution can add value.
- Alternatively, they may be concerns clients have about doing business with your organization, your category, or your industry. In this case, you can show how you add value by managing these concerns.
We then put this in a framework that helps use those emotions as part of a value-based messaging strategy.
- Where and when you need it.
- So many more businesses can access it.
- This means we do our bit to help more business owners achieve financial freedom.
Not sure about this approach and need more information?
Read through our free articles such as:
- Why you should be using benefit segmentation as part of your pricing strategy
- Should pricing strategy aim at building profitability or market share?
- How well do you integrate your pricing strategy with your communications strategy? , and
- Are you using your pricing strategy to retain your clients?
to better understand the strategic thinking that went into why we developed The Value Story Builder.
Complete version of the discussion about the 2-hour workshop (27 minutes)
What you will receive when you buy this together with The Value Story Builder
A 2-hour online workshop to help you create a message, to show how your business adds unique and relevant value, so you can justify your pricing, even if you have limited marketing experience. The workshop will consist of two parts:
- Identifying what you excel at in ways that clients value, for the service or product and the specific segment you have in mind. It should also be a differentiator, if possible.
- Helping you package this into a brief explanation for clients that’s easy to remember and adapt should the price justification question arise.
30 days of access to The Value Story Builder that only starts the day after you make the purchase. (So you have extra time to become familiar with the tool before the clock starts ticking.)
A space to customize your selection of choices before you start using The Value Story Builder. This dashboard lets you create and store the information that will appear as checkbox options when building each value-based pricing message in The Value Story Builder. This means you save time by not having to provide the same information more than once. These include:
- Your product and service categories.
- Segments you are targeting, such as markets or personas.
- Emotions you want your messaging to create. So that you can link your brand to specific emotional benefits to be unique. This list contains many researched options. You can add to this if you wish.
- Proof Points to provide proof or a “reason to believe”. An extensive list has been set up to get you started. You can add to this if you wish.
- Communication channels you can run this message through. An extensive list has been set up to get you started. You can add to this if you wish.
- Options to confirm whether your promise is unique and supported by clients. You can add to this if you wish.
Space to create up to 20 value-based pricing messages that, when complete, can be exported to a spreadsheet for further use.
Questions to guide and refine your thinking for each of your value-based pricing messages. These include:
- Selecting from one of 33 researched concerns (or “hot-buttons”) where you can address a concern to build value-based pricing messages. (These concerns are linked to over 120 brief examples to draw inspiration from – just to make it easier for you to get started.)
- Questions to identify the exact problem that requires a solution and how to fix it.
- Checkbox options to align each concern with what you have to offer and the segments that will benefit from this.
- Checkbox options to provide proof or a “reason to believe.” This is to back up the solution and benefit you are promising.
- Checkbox options to identify communication channels you can run this message through.
- Checkbox options to confirm whether your promise is unique and supported by clients (so you know which are your most credible messages to start with first).
A place to review your work where all of your thinking has been pulled together in one easy-to-review place. Review and edit here before you export your thinking.
Extend access to The Value Story Builder beyond 30 days for only $39.99 per month if you want this available for a longer period.
You can access a dashboard to edit more than one “project” containing strategies you have already submitted in The Value Story Builder, just in case you’re working with more than one brand or market.
Need to build more than 20 value-based pricing messages but don’t wish to spend any more on The Value Story Builder? Just delete your existing work – after exporting it to a safe place – and add as many more strategies as you like in that 30 day period.
Is it worth the price?
There are examples of businesses where one good idea to build brand value changed their destiny forever. That’s all they needed to justify their pricing. But they did things differently.
Think about technology, clothing, or vehicle brands as an example. Or the specialty coffee you pay for each day…
Still not convinced? Try to calculate the cost of not using this…
This cost includes:
- The cost of trying to figure this out on your own with YouTube videos, e-Books, blogs, articles, etc. You know the time this will take.
- The cost of a freelancer to put this together for you.
- The time you are spending on this already, without getting a positive result.
- The massive cost of lower margins and its knock-on effect on the rest of your business, such as more turnover to get the same profit, longer hours, more people, higher client acquisition costs, etc.
- The cost of losing an existing client, since existing clients see many of your communications, even if it is not directed at them. Use this to show them they are receiving value for what they are paying.
- The cost of not getting additional sales from existing clients, as they may not value your product or services sufficiently to pay what you’re asking.
- The cost of not getting an additional client because they think you charge too much.
Satisfaction Guarantee for The Value Story Builder
Not only do we guarantee The Value Story Builder for 7 days, but:
- if it doesn’t give you ideas on where you could show how you add value at an emotional benefits level;
- if it doesn’t help you to get at least a few value-based messaging ideas together;
- if it doesn’t give you a plan to build a value-based messaging approach that is better than trying to work this out on your own – as you may be doing right now,
then we don’t want your money. We’ll give it all back. No hard feelings.