Learn How to set JUICY Prices for Your Service-Based Biz or Blog

I've gotten this question for YEARS. It comes in different forms from different types of business owners. So I'm breaking it down in a way that is applicable to multiple industries and entrepreneurs.

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Before we dive in, if you’re starting your business, or if you're serious about growing your current business, I would love to support you. I just had my *highest* income month ever in May, and I want to show you how to do that in your own business.

I’m opening two spots for my new one-on-one VIP Done In a Day offer. It's one part coaching; one part "I do the work for you." DM me @thebloggerbrunch if you're ready to level up your marketing strategy and want it FAST.

Now, let's get into today's episode...There are a lot of ways to make money online.

• blogger
• content creator
• affiliate commissions (ie reward style, LTK, amazon storefronts…)
• coaching
• sell online courses
• sell physical products
• social media managers
  

There are also a lot of ways to make money using online tools in your offline business. Aka using IG to sell your service.

• hairstylists
• realtors
• makeup artists
• photographers
• house cleaners

So ALL of these people are business owners and/or entrepreneurs, and they all have something in common.

THEY SET THEIR OWN RATES/PRICES.

They have to choose a number that makes sense to ask for in return for their goods or services.

I’ve gone through this myself with my personal blog, with pricing event tickets, when I used to do social media management, brand consulting, and now for my courses and coaching packages….and I bet you do too.

How do you set you rates?

First, (bloggers:) throw away your rate sheet.

Second, your price has to align with your experience.

There are 5 traditional ways to set prices. You need to think about *your* price in terms of each of these strategies, THEN decide what is right for you.

1. Value-based pricing: you get this, this, this….
2. Competitive pricing - you can easily find our what your peers are charging.
3. Cost-based pricing - tough for some businesses; you have to know how much your time is worth or only works for certain industries.
4. Demand-based pricing - are you in high demand? Minority people groups, proprietary methods, unique appearance, redheads, beauty marks, etc....
5. Goal-based pricing: you want $20k month, so backtrack and break down your offers to reach that amount.

Well, those are all great, but now what?

• do all of that research (don't skip this step!)
• what number do you think someone would pay?
• double that number (now you're getting close)
• what number sounds good to you to make in a month?

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There is no one way to determine your prices, but think about what number would make you feel good to earn. Look at your current rates and how many people are paying...are they the right client for you or are you attracting the wrong people? Your prices might be to blame.

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This may take a bit of trial and error, but odds are....you're currently undercharging. Need more support? DM me @thebloggerbrunch and let's chat.

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SHOW NOTES:

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@thebloggerbrunch

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