As most marketers will tell you, people will do business with those whom they know, like and trust (KLT).
Last blog we kicked off the three-part series with a discussion on the “KNOW” aspect, exploring whether to display prices and how it should align with your WHY. If you missed our previous discussion on “KNOW” in pricing, you can catch up on it here.
The LIKE of Pricing
This blog continues our three-part series of Know Like and Trust in pricing. We discuss how “LIKE” features in pricing. Our focus shifts to “LIKE” in pricing. This is where most business owners find themselves most vulnerable. There is often, an underlying question, “Do they like my pricing, do they like me?” It’s as if Pricing is intertwined with our self-worth, and in some cases, it truly is.
During a recent workshop, I asked participants, “when I mention pricing, what is the first thing that comes to mind? How does it make you feel?”
Here are some responses that emerged:
“Terrible”
“Am I too much?”
“Am I too cheap?”
“Where do I go if no one is doing what I am doing?”
Interestingly, even though the participant is talking about their business, there’s a distinct reference to ‘I’ and self-worth.
Let’s look at it another way
“LIKE” in pricing doesn’t necessarily mean you have to price at an amount the customer immediately likes or wants to pay. I encourage you to shift your perspective and look at it from the client’s viewpoint, considering the client’s problem. When you do this, not only will your customers LIKE you, but they may even LOVE you because you’re genuinely solving their problems. You’re of service to them.
Start looking from the perspective that your work is providing a solution to your client and the value it brings to your client’s business or life. This not only uplifts your client now that their problem is solved, but it also uplifts you as can see your contribution to your client.
Begin by thinking from the client perspective:
- What problem do I have? What really sucks that I need something to make it better?
- When it sucks, how do I feel? What do I want to feel instead?
- How do I know if I am successful? How do I measure success?
By delving into these questions, you can gain clarity on how you provide value to your clients, making them LIKE your services.
By delving into these questions, you can gain clarity on how you provide value to your clients, making them LIKE your services. If you need help or require further clarification, feel free to book a call via this link.
