Want Higher fees? Present Your Value, Not Just Price.

Let’s clearly distinguish VALUE from PRICE or COST. This is an essential distinction, especially for practitioners who want to maintain respect and professionalism. [AND YOU DO!] This clarification will help you maintain a high perceived value in your marketplace.

In the free eBook Immediate Practice Profits, we suggest that you make offers regularly including the type we refer to as “Bundles with Benefits” as opposed to discounting your services.

The reason we love this idea and why it is working so very profitably for practitioners right now has everything to do with this distinction between VALUE and PRICE.

Let's clarify.

If I said to you I can build you a funnel for $100 grand you might balk at the price. But If that funnel brought in a half million in revenue in 12 months, you’d experience a value of $400,000 in that first year alone. The potential for long term value becomes even higher, right? All of a sudden the VALUE makes the PRICE clearly worthwhile. Make sense?

“Money can be replenished, but an hour gone is gone forever.”

Joy Houston

It’s a lot more clear cut when we’re talking about marketing and it takes a little more finesse and nuance to apply it to what you do as a practitioner. So let's run through an example to clarify how to protect the perceived value of your time by adding VALUE instead of dropping PRICE!

If you know that you can turn someone’s health challenge around – let just say you can typically do that in 8 visits over 6 months. For easy math – let’s say the cost is $200 per visit which would total up to $1600 just for the visits with you, before testing and supplements.

I’d much prefer you to make an introductory or promotional offer that added VALUE to that package instead of discounting that $1600 fee to – say $1200. WHY?? Because I want the perceived value of your time – the 1:1 time you spend with people – to remain HIGH and to go UP over time – never down.

So how could we maintain your fees and still make the VALUE much better for a potential new client – or even for existing clients who want to take advantage of a promotion?

There is a time and a place for discounts – meaning actual price drops. But, I am a firm believer that discounts should be applied to things OTHER than your time.

For example, we use the free Quarterly Scorecard to plan sales and promotions. We also have nothing against new client discounts on things like supplements or online programs. Those makes sense. They cut into your profit a bit, but they do NOT exchange your time for less money than you are clearly worth. Your time is too important!

If you don’t already have online programs that give you scalable revenue from sources OTHER than your time in 1:1 visits – be sure to take advantage of your free access to the masterclass on How to Turn Protocols into Profitable Online Programs. This will save you from burnout!

Take advantage of that free training because online programs are a GAME CHANGER in three major ways.

…just in case you’re not CLEARLY Seeing the price vs value thing. Here’s a tragic example of VALUE being eroded by discounting PRICE.

Macy’s – the department store – carries this super soft brand of bed sheets that I love. I’m happy to buy them even though they're expensive because I adore how they feel. They have a high VALUE to me. But guess what?

Macy’s is a brand that has trained me to buy based on PRICE instead of VALUE. How did they do that? They send me so many discounts! Even if I don't have one handy, I can just grab a coupon online with my phone. Even though I’d happily pay full price for those sheets – they’ve devalued their brand in my mind by constantly offering a 40% off anything store wide coupon. That consistent discounting of price has trained me to get the value I want at that discounted price.

Don’t be Macy’s.

If you have questions about this concept, or want to connect with me about building scalable offers that save your sanity while continuing to serve humanity, come visit me inside the private, practitioner-only Facebook group.