How do you figure out how to price your products when everyone tells you to charge your worth?
To answer that question satisfactorily, there are a million details we (as marketers) need to know to unpack that statement.
The question alone sends off vibes of, her biggest roadblock is how much she values her work period and the stories she’s telling herself about how much others will pay.
So as you’ll hear, first we have to break down what she really does, what the transformation her programs offer, who her ideal client is, and is she even attracting THAT specific client she wants to work with…
Ultimately, knowing your value comes down to what value your ideal client places on your work, and how much would they pay for that transformation?
Her goal is to teach women how to make this a lifestyle change so they can lose the weight that makes them feel uncomfortable.
The second thing that stood out about Melissa’s question of pricing and value was that she was a heart-based entrepreneur (who like most heart-centered entrepreneurs) started a business because they are passionate about serving others around them and solving problems they too, have wrestled with.
Heart-centered entrepreneurs struggle with pricing naturally because it goes against the way they operate their business.
How do you get around the pricing issue if you want to be a legit business that sustains your family?
1. Start with pricing you can comfortably say in the mirror without cringing.
2. Once you settle on a price, ask yourself, “Will I feel like I’m gouging someone at this price? Will I feel resentful of my client if they only pay me $X amount for the work? To get into a heart-centered entrepreneur’s head, you have to understand you judge yourself on the hardest of scales, but would never hold someone else to those same standards. To break out of the mental chatter in your mind, ask yourself questions on both ends of the spectrum to see where does your pricing really fall?
3. Give yourself to change the pricing at any point in time and feel OK about it. This is YOUR business. Now I don’t want you running around changing your price weekly because you can, but know in your gut, that you are the boss and own it. It’s OK to raise your prices. Frankly, you MUST do this to grow and scale. As you improve, your skills will improve, your copy, your work, your everything. Charge accordingly.
4. If no one is buying what you’re offering, don’t assume it’s the value OR price. The most common problem actually is that you aren’t doing a good enough job selling the benefits and transformation. I would bet $100 your copy is too I-focused and feature-based. People buy based on emotion and back it up with logic.
5. Remember that you are NOT your customer. You may have started your business to help people like you, but it does not make you your customer. This trips up so many women because they assume that because they may not be willing to pay $X for this service, no one else will either. That is NOT true.
6. Raising your prices or having prices that are not comfortable for everyone does NOT mean that you are excluding people from working with you. Like Melissa discovered, she has many ways for people to get direct help from her through free offers, groups, podcasts, etc. so that if someone CHOOSES to not invest in their health with her through a paid program, course or 1-1 work, they STILL have options where she could serve them without feeling icky about it or leaving people behind.
The Creepy Exercise that Will Change EVERYTHING about your marketing
Melissa had a huge breakthrough moment (around 37 minutes) about how to stop skirting around the hard topics that her ideal people are desperate to talk about and have solved.
Listen to our conversation around the inner conversations your ideal person is having in their head before they decide on purchasing something from you, to see how to make your marketing and sales copy come to life and start breathing life into how you show up.
To follow along and do this exercise for your specific business, do the “Creepy Exercise” with me… yes, it needs a better name!
Imagine that you’re watching your ideal person from outside their window and they don’t know you’re there. (See, why it’s creepy?) Answer these questions for two scenarios.
Scenario #1: Before they know about you
Scenario #2: After they’ve worked with you and had the transformation only you can offer
- What are they doing when no one is watching?
- How do they dress?
- How do they speak to their family?
- What’s their relationship like with their spouse?
- What do they stay up at night Googling, when everyone else is asleep?
- What are their habits during the day?
- How do they eat and what do they snack on?
- How do they spend their time?
- What are they NOT doing any more that they used to?
The answers to this exercise will bring your person to life in a way that nothing else can. Suddenly, everything you create for your business makes more sense and is easier to do because the ideal person you’re desperately seeking suddenly is real and not a made up person you are hoping to one day find.
Connect with Melissa
Melissa Ronda is a certified nutritionist + wellness coach who helps busy women ditch diets, stop eating their feelings, take their power back for good.
Since launching The Honest Weigh in 2014, she has helped over 400 women lose well over 13,600 pounds and counting! Even more important than that, they keep it off with the mindset shift and systems learned from the program. Melissa is a lover of all things girl power, she’s a meal prep maven, and hopefully your new best friend!