7 Secrets to Charging More While Working Less
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As female entrepreneurs, we have a lot on our plates. It’s time to be strategic in the way you show up for your business. In this episode, Victoria shares her 7 secrets to charging more while working less. From her own experience, she’s learned that leveraging the power of branding and by understanding her brand positioning, you can charge more for your services and in turn work less, all while giving your clients a better experience.
Ways to increase your prices without trading more time:
#1: Stop trying to look like everyone else [2:09]
It’s not intentional, but it happens. We follow our competitors on instagram and other social media platforms, we reference their websites when looking for inspiration for our own design or pricing, and in doing so, we start to lose the authenticity of our own brands and we end up blending in with the rest of the industry. In order to stop the scroll, we have to look different and invite people into our story as a business owner. People will choose you based on how you are different from your competitors, not by how you are the same.
#2: Position your brand in the minds of your buyers [3:18]
Brand positioning refers to the unique value that your brand brings to your potential customers. It’s more than your logo or colors, it’s how you will be remembered in the mind of your ideal customer. In order to position your brand, you need to know in whose mind you are positioning yourself. This will help you position your brand to be the exact solution that your ideal customer is looking for.
#3: Niche down [4:36]
Honing in on a specific niche it enables you to create a personalized message that will resonate with your customers on a deeper level. Niching down can also decrease your marketing costs and efforts. It’ll be so much easier to market to a smaller audience vs. marketing to the masses.
#4: Speak to your ideal customer [6:32]
Think of your ideal customer every time you create a piece of content. An ideal customer is the one perfect customer that needs and wants what you are offering the most, and it’s the person that's willing to pay the premium price to have it. By refining your messaging to speak directly to the person that your business was set up to serve the best, you will attract more of your ideal clients. It’s so much harder to be the go-to if you are continuing to keep your messaging broad. Get specific on who you serve and then let all your messaging and marketing be created for that one person whom your business is best set up to serve. You’re differentiating yourself from your competition and adding instant value to your products or services. Furthering your trust will help you build a rock solid relationship with them, and people are more likely to buy from brands that they trust and have a connection with.
#5: Price yourself differently [9:02]
We subconsciously assign value and luxury to products and services that are priced higher than the competition. Likewise, we assume that products and services priced lower than industry standard aren’t as high quality. So by pricing yourself different, you’re sending a message to your potential customers about the quality and positioning of your brand.
#6: Adding a tiered structure to your product suite [10:32]
Adding pricing tiers allows you to scale your time, energy, and effort with the corresponding pricing of your tier. If you are setting up a custom package for each customer, you are taking up a lot more time delivering a unique set of deliverables than if you were to create one package with numerous tiers to it. Having a tiered structure allows you to charge more without isolating potential customers that aren’t ready to make the leap to your high ticket offer. Most people that come in for your low ticket offer will also come back for your high ticket offer. You’re not only saving time, but also money, because you don’t have to constantly search for new clients, but rather nurture those existing customers along their journey from your low ticket to your high ticket.
#7: Serve before you sell [13:14]
Before you sell to your customers, you first need to build that trust with them. No one wants to be sold to anymore, we want to feel like we are buying into something we need. In order to help your customers feel that they are buying into something they need, we must serve them with content and resources tailored to their season of life. The more specific you get on who you serve, the better you will be able to serve them. Think, how can I help them right now, for FREE, before they even spend a dollar with your company. When you show up and serve your target audience you will become the go-to solution for whatever problem they have that they need solving. This can be accomplished by following the 70/30 rule when creating content. 70% is focused on serving your customers (not mentioning your products or services at all) and 30% of your content is focused on how your services or offers can fix what you’re talking about in the other 70% of the content. Trust is the foundation of business and we are willing to pay more to brands that we trust and like.
You don’t have to keep doing more as business owners [15:48]
If you’re over the message of having to do more and more as business owners, please join us in The Branding Business School. This online course will open 3 times per year, and our inaugural class will be open for enrollment October 2023. You will learn from Victoria, and an intimate group of female founders, how to leverage the power of branding to scale a wildly successful business online. Waitlisters will have early access to the course, plus exclusive discounts during launch week.
Key Quotes
“Knowing your customer and niching down is so important because it’s impossible to effectively serve everyone. The more specific you get on who you serve, the better you will be able to serve them.”
Victoria Marcouillier
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