I’m here for you today to once again work on helping you make money in your wellness business. Money is important, right?! But Creating Value is More Important Than Discounts! Being able to grow and make the money you desire and deserve is critical in order for you to be able to reach and touch more people. I want you to be the beautiful healer that you want to be, which in turn, will help you create a greater impact in this world!
Let’s dig in. I want you to know that you need to stop discounting your services and start selling your value! Big words! Here are some of the most common myths that I hear over and over:
Myth #1 – You believe that if you lower your price, you will get more clients.
When you drop your price by $5 or $10, you magically believe clients will be pounding down the door! But if you are struggling to get leads and are having a hard time getting people to come in for return visits, I promise you it has nothing to do with a $5 discount.
Myth #2 – The average price in your area is lower than what you are charging.
Let’s say the average price is $5, $10, $15 less than you. You’ve took a look around town and you know you to lower your price to reach the level of success others are seeing. AKA… you need to make more money in your business! Nope. Same issue. Don’t cave!
Myth #3 – Because you’re a new practitioner, you need to discount your services.
Wrong! You may think you don’t have the ability to charge full price for services you offer because you’re new. Somehow, you now are charging less than other practitioners in the area, meaning you’re giving yourself less value. Nuh-uh… doesn’t work that way!
Myth #4 – If you increase your price, your current clients are going to leave.
This just means you’re frozen in fear. You know you’re not keeping up with the average cost of living increases in your area, but you’re afraid of raising those rates. You think that if you even raise it $5 or $10, everyone is going to leave.
I absolutely know that this isn’t true because over and over, I’ve worked with my clients to increase their prices and guess what? Now they’re making the money they want! Maybe one of two clients left, but that just means it wasn’t their ideal client! And their increase made up for the ones that left and they were able to bring on even more quality clients who were fine with the prices!
All of these myths above are totally misguided!
These excuses may even make you feel better to say that pricing is the issue. You can attach this “fact” that you’re not getting the results you want because of money. It’s the easy out! But it’s not serving you well.
It has more to do with the fact that you don’t see your own value!
It’s one of two things. People aren’t coming to you because there is a $5 or $10 difference. They come to you because you deliver. If they see value, price doesn’t matter! Or, you are hearing objections around pricing from clients. That may be because they don’t understand the value that you bring to the table!
Either you aren’t seeing your value or they’re not receiving it. Which is it?
Now, it’s a communication issue. If you have one client in your business that is complaining all of the time, they may just be really price sensitive and they may not be the ideal client for you. The majority of people in your business more than likely don’t feel this way.
Discounting doesn’t solve the problem!
A client who pays more is more invested in the outcome. So, if you’re trying to woo people in by giving them half off, they may not be fully invested, which will make it easy for them to walk away after that first try.
But I know that you want to get people the outcomes they are looking for! You want to create and facilitate that transformation for them! Therefore, you’re actually doing them a disservice by giving them a discount!
Own the value. Communicate the value. Charge for your value.
You may remember my story about my embarrassing ice skating story, where I hit wet ice, slipped and got a spiral fracture of the tibia? Well, it was a monstrous recovery, to say the least. I have a lot of fear around Western medicine and didn’t like having all of the chemicals and medications in my body.
I remember breaking down.
I was doing everything right, and was also starting to go into an acupuncturist. I was going to school for it, right?! But when I got into the clinic, I remember totally breaking down. I totally lost it.
And my professor told me, “You know, Michelle? This is a gift! This is a gift that you’re going to bring to your patients.”
Years later I look back on this, I know exactly what he meant. Now that I am experiencing other people’s struggles and their pain, it was such an invaluable lesson for me to go through. It is now one of the hundreds of things I can bring to the table because my personal experience as a patient makes me a better practitioner!
You have these things, too. You want to help people! You have a big heart!
I have a client who knows her stuff and is confident about helping her niche. She has the ability between her acupuncture and her herbal medicine to solve a client’s problem quickly and get amazing results. But she didn’t initially see the value in this!
You need to stop and think about what your value is and own it. Uncover the different aspects of what makes you special, unique and different. Communicate that out to the marketplace! When you are able to do that, price doesn’t matter!
This is when discounting has no place in your practice!
Take action now and think about five really unique aspects to who you are or what you can do. Things beyond your credentials! That’s what is going to get you to stop discounting and start selling your value!