How To Price Your SMMA Services in 2024 | Summary and Q&A

TL;DR

Learn how to determine the ideal price for your services and the importance of aligning the perceived value with the price you charge.

Key Insights

• ⚾ Pricing decisions should be based on the value you provide and your belief in that value.
• ❓ Aligning the perceived value with the price is crucial for successful sales and conversions.
• 😘 It is acceptable to start with lower prices or performance-based pricing until you build experience and confidence.
• 🧚 Increasing prices requires increasing your value first and having the conviction to charge what you believe is fair.
• 😫 The market and prospects will not determine your pricing; it is the value you provide that sets the limits.
• 🥺 Conviction in your pricing leads to consistency in business efforts and attracts more clients.
• 👋 Good pricing balances value and price, creating a significant value-to-price discrepancy.

Transcript

today's Hot Topic is pricing how much should you actually charge your services what makes sense what will sell today I'm going to tell you exactly what to charge I'm going to tell you what I would charge if I was starting an agency and I'm really excited my name is Charlie I've been on scale of two companies a marketing agency to seven figures and ... Read More

Questions & Answers

Q: How should I determine the price for my services?

The price should be based on both the value you provide and the prospect's ability to pay. However, your belief in the value you offer is ultimately more critical, as people will only buy what they have confidence in.

Q: What if I have no experience or case studies to support my pricing?

Starting out, it's acceptable to charge less or base your pricing on performance. It's crucial to charge what you are comfortable selling and to focus on building your value and confidence before raising your prices.

Q: Can I charge more if I believe my services are worth it?

Absolutely. If you genuinely believe the value you provide justifies a higher price, you can charge accordingly. The market and prospects will generally not limit your pricing; it is your own conviction that will determine sales and conversions.

Q: Is it necessary to improve my sales skills to increase prices?

Increasing your prices is more about increasing your conviction in the value you offer rather than improving sales skills. When you have strong conviction, it naturally translates into better conversions and sales.

Summary & Key Takeaways

• Pricing can be categorized as high ticket (above 2K/month) or low ticket (around 200/month) depending on the type of service.

• The value you provide is key - if your solution solves a pressing problem, people will find the money to pay for it, regardless of their initial financial limitations.

• Pricing decisions should be based on your own belief in the value you offer, as sales and conversions are driven by the conviction you have in your pricing.