5 Ways to Charge What Your Worth

Let's face it, no matter if your a spa, a massage therapist, a holistic health/wellness pro...there's always someone out there that is willing to do what you do (or claim they do) for cheaper. So, how do you make sure price isn’t a sticking point with your clients? It starts with having these five key ingredients right in your business:

1.)  Protect your brand - This is where most business owners mess up.  They have something wrong with their brand that causes clients to only be concerned about price from the get-go.  Don't fall into this trap.  Your brand is more than a logo. It’s how your ideal client feels about you. Your ideal client conjures up these feelings when someone mentions your business name.  YOU are an integral part of your brand thanks to the enthusiasm, personal flair and individual attention you present to each of your clients.

2.)  Understand Your Numbers - Copying your competitors is not the answer. Start by understanding the cost of each sale you make: what it costs to pay your therapists, to keep the lights on, the supplies your using to pamper your guests...all of this comes into play when charging what you're worth.  Once you understand these numbers, you have your bare minimum price. Then you can look at setting a price based on demand. The key is to create demand the right ways to attract clients who love what you do, not by attracting the wrong price-sensitive buyers with discounts.

3.)  Make "Thrilling" Marketing Decisions - Marketing starts with products and services that your customers can’t easily get elsewhere. Your clients should go gaga love you if you want them to pay more for you.  To do that, you need to have offerings like The Scandle Body Candle for instance that is more than just your standard massage oil or spa candle but is both products rolled into one!;)  They need to be special enough to make someone want to talk about them, and not just because of the price.  The more customized your offerings are, the more difficult it will be for anyone to copy you and your perceived value will continue to rise (for a truly unique, custom offering...you might want to look into Private labeling).

4.)  Be Original When it Comes to Promoting - Promotion is what you do to tell people about your offerings – and it goes beyond paid advertising. Try to avoid traditional advertising and focus not on reaching the masses, but instead reaching the right people who may be drawn to what you do.   This could involve holding seminars, partnering with charities, or creating marketing collateral that "talks" to your clients and makes you stand out from the pack.

5)  Don't Be A "Used Car" Sales Person - Selling better doesn't mean smoozing and wheeling/dealing.  It's about building rapport with your clients.  Get to know your customer and spend time educating them.  Find out about their skin care needs and recommend products for those needs, for instance.  Sales at your spa, clinic, or retail setting should be relationship based and the service and experience should continue after the transaction.

* Reference - Duct Tape Marketing "5 Key Ingredients to Charging What Your Worth" by Sarah Petty