How to Charge More For Your Business

You’re not charging enough. 

I say this to businesses constantly, but most are afraid to raise their price. 

Here’s six ways to justify your higher price.  

In this video, I talk about pricing in context of buying an online ecommerce business, but it rings true for services businesses as well. There is likely much more you can do with price

The top things that allow you to charge more:
– Experience
– Presentation
– Values
– Convenience
– Extras
– Customer support

Experience — Is your product or item simply better than the rest?

This is the best way to justify price, especially if it’s backed by user reviews. 

I pay more for my Whoop than I ever did for a fitbit or apple watch, because its that much better!

Presentation– If you do have any eye for brand or packaging and can follow through, you can differentiate sheerly through presentation. How does your product look on the shelf or online, is the unboxing experiece premium, is your brand that much better?

Values – This is the hardest to succeed in, but resonates more and more every year. Sustainability, ethical sourcing, American made, these are all reasons to justify price, but you have to tell the story

Convenience – Next day shipping, assisted setup, anything that makes a buyers life easier is reason to justify a higher cost.

Extras – This is very underrated. Anything you sell is essentially an “offer”… what can you bundle (free downloads, video content, extras, samples) that helps stop customer objections and make their life easier.

Customer support – You can’t charge more just for having it, but you can for having it be amazing. 24/7, right away, real human–chat, email or call… It stands out enough now that it helps justify price.