Why You Need To Charge MORE For Your Services

shutterstock_76478164 I know many of you probably cringed when you read the title of this article. You might say, “In this economy, there’s no way I can get away with charging higher fees.” If you want to position yourself as a leading authority in your industry, you MUST charge more for the value you provide. If you’re constantly lowering your fees or giving discounts in order to keep up with the competition, then you’re merely positioning yourself as a commodity. And that’s not a good thing. You’ll never stand out if you’re just one of many doing the exact same thing – offering yourself up as a bargain and vying for your potential clients’ dollars.

You must focus on value, not dollars. It’s not about the price, it’s about the results that your clients get from working with you. When you position yourself as the person with the most effective solution, your clients will likely pay anything to solve their most pressing issues. Clients want a price they can justify, so when you do a great job of showcasing the results, the evidence and your unique abilities, the justification becomes a lot easier for them.

Here’s why you need to charge more for your services:

Your perceived value will be greater. We’ve all heard the clichés, “If it’s expensive, it must be good,” “You get what you pay for,” or “Quality doesn’t come cheap.” Truth is, when you’re priced above the market, it’s often assumed that you must be good at what you do. Now you just have to deliver on this perception and provide extraordinary value for your clients. You can’t just charge high fees and expect the world to come banging down your door. It’s your job to communicate your value and showcase the results your clients have achieved. It’s your reputation on the line.

Your value will be about results, not time. When you can effectively communicate the value you provide, you will move away from dollars for hours work. If you could solve your client’s problem in 10 minutes as opposed to 10 hours, do you think you could charge the same amount for the result? You betcha! Doesn’t your client just want her problems solved? Focus on value-based or project-based packages and pricing.

It will position you as an authority in your industry. People assume that experts are paid more than generalists. When you have a true niche and are able to effectively communicate it to your target market, you are creating a greater perceived value for your expertise.

You’ll weed out the “drainers, complainers and time suckers.” There are people out there who are just looking for the best deal, regardless of the value they receive. Trust me, you don’t want this client. They’ll monopolize as much of your time as they can get their hands on, complain about your service and will never be satisfied. When you fully understand your value, can communicate it in a compelling manner and charge what you’re worth, this type of client won’t resonate with you. They’ll run the other way and you should thank them for it.

Doubting your fees means you’re focused on features, not benefits and results. And clients only want to know what’s in it for them. Take time to establish your value before you even talk about price. When a potential client asks you what you charge, respond with another question, “I offer a number of different packages and services depending on your situation. May I ask you a few questions first so that I can assess the best options to share with you?”

People will often pay more than they originally planned once they fully understand exactly what they are getting and can clearly see the results they can achieve from working with you. Don’t sell you or your potential client short by focusing on price. Help them to see the magic that will happen once you are working together.

©Liz Dennery Sanders 2010

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