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Can I tell you something deeply unpopular?
It doesn’t matter how good you, how great your marketing is, or how much your clients love you. If your prices are too low, your business is unsustainable (ouch!).
Isn’t it time you raised your rates?
You’ve been around. You’ve earned your stripes. You’ve got clients who love you, and keep coming back.
Now it’s time to up your game and raise your prices.
Done well, raising your prices means earning more, while working fewer hours, with far better-fit clients and no more high-need, ungrateful, energy vampires.
But when you raise your prices without thinking things through, clients leave in droves, leaving you none the wiser, and far from richer.
So how do you raise your prices, with kindness and class?
Pricing your services too low has multiple effects:
- Pricing too low, working too many hours, unable to take a proper break, and without enough support keeps you stressed, overwhelmed and doubting yourself.
- Low prices give the impression of low quality, regardless of how evidently awesome your services are.
- Low prices attract low-quality clients: people with unreasonably high expectations, who tend to be demanding, disrespectful, who keep you second-guessing yourself and the value you deliver.
- Pricing too low keeps you stuck, unable to grow. Scaling your business requires investment! Working far too many hours for far too little money will hinder your ability to hire, delegate, outsource, or invest.
Done well, raising your prices means:
- You earn more, while working fewer hours
- You have better-fit clients who appreciate you and don’t make you want to throw your laptop out the window
- No more go-nowhere conversations with discount-shoppers
- Your clients are far more motivated and engaged with your work which means you get better results, better testimonials and more referrals.
Done poorly and clients leave in droves, leaving you none the wiser, and far from richer.
Top 3 most popular myths about pricing
Myth #1: "If it's cheaper, I'll make more sales"
This myth is massive: the belief that, if you price lower, you’ll make it easier for people to say ‘yes’. Nope. Ever been in negotiation with a prospective client who argues you down, and then walks? I have. Many times. And, I’ve seen over and over again how raising my rates, and helping my clients to raise their’s, improves their conversion rate. No matter how low your price, you’ll still need to sell. Except selling at a lower price is frequently more difficult.
Myth #2: "I just need to sell more"
Scaling won’t save you. But it could burn you out and break your business. It costs a lot to sell low-priced offerings profitably. The mass-produced, low-cost business model requires a tonne of investment to make it work. YOU are not mass-produced. If you’re a sole trader or small business owner, then you are, by definition, limited, bespoke, and custom. Start charging accordingly.
Myth #3: "I need to help this person"
This one’s a biggun’: the Martyr Complex or Saviour Complex. If you believe that you’re the only one who can change your prospective client’s life for the better, watch out! If someone truly can’t afford your services, they’re not your ideal client. And, you always have options: you can create better, more generous marketing (I’d rather give away all my gold than work for peanuts); or you can pitch the organisation that has the funding to serve this under-privileged group. But be careful – unless you’re a doctor, you’re not really saving lives. Instead, You might just need a good long rest from working too hard and space to break up with the Saviour Complex.
Hi, I’m Brook McCarthy
I started my digital marketing agency in 2008 and charged my services out at $60 per hour. Over the next several years, I increased this steadily to $125 per hour, until I stopped charging by the hour and started changing by the project.
Since then, I’ve worked with thousands of business owners to help them do the same.
Through my flagship program, Hustle & Heart, as well as my course, Writing Sales Pages (that sell!), I teach owners to better communicate the value of their services so that clients don’t haggle, and pay upfront (in full, or 50%).
In fact, the number one reason why owners engage me for business coaching is for help raising their prices so that they can earn more, while working less.
The most frequent feedback I get after my clients raise their price is:
“I wish I’d done this sooner!”
Isn’t it time you raised your rates?
Raise your Rates in 5 days training
What you’ll learn
This quick-and-painless (like ripping off a bandaid) training covers:
The four essential things when announcing your price increase to clients
Learn the four key things to focus on – and what NOT to do – when announcing your price increase to clients.
Allergic to hourly
Charging by the hour makes no sense (yes, even when clients insist on it). Learn how to excavate the value of what you do, so you can stop charging by the hour and start charging for the outcome.
No more bad-fit clients
Why bad clients cost you way more than just money – and what to do about them, while staying classy.
How to calculate the risk and reward of increasing your rates
We examine exactly what your potential losses or gains may be from raising your prices.
Influencing the perception of value
Learn the five things you can do to influence others’ perception of the value you offer, so that you can increase this (hint: the value you *actually* deliver and the value that people perceive is different).
How to improve your brand positioning
Quick and easy way to improve your brand positioning without an expensive rebrand or laborious overhaul of everything.
The exact word-by-word script to say or share when communicating your price rise with clients
Nab my copy-and-paste, couldn’t-be-easier script to raise your prices, and listen to me talk you through an effective sales conversation (nobody can die from embarrassment, I promise).
How to handle common objections from people, without losing your cool, being negotiated down, or being caught out like a deer in headlights.
"I can't afford it"
Learn how to handle the dreaded “I can’t afford it” objection with confidence and grace, without losing your profit margin.
Get instant access to this training
Increase your business’s profitability, quickly and easily, while halving your stress.
Start earning more immediately. Make back the cost of this mini-training several times over, the moment you enact it.
“Brook has a gift for plain speak that is also galvanising and encouraging if you’re struggling with idea generation, and then the ‘doing’ part.”
“I have done a couple of Brook’s mini courses and found them invaluable – quick, productive and thoroughly on point. Brook is refreshingly direct, approachable and totally the real deal.”
“I LOVED working with Brook. Her expertise, fun personality and her practical deliverance of advice made my time working with her so very enjoyable. I have seen a noticeable increase in my productivity and income.”