Run time: 59 Seconds
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When you set a price, where do you start?
For most service businesses, the answer is time. How many hours will this take? How much effort goes in? Add a rate, and there's your number. It feels fair and logical. But it quietly holds a lot of good businesses back.
Your customers aren't really buying your hours. They're buying what changes because of them:
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The result they wanted but couldn't reach alone
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The relief of a problem finally off their plate
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The confidence to make a decision they'd been putting off
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The progress that moves their business forward
Pricing on effort has a strange side effect, too. The more experienced you get, the faster you work. So the better you become, the less you charge. That's the opposite of how value works.
This week's Ideal Marketing Minute comes with a simple prompt. Pick one offer and read how you describe it. Are you talking about the work you do, or the difference it makes for the customer? If it's mostly tasks and process, you've found the place to start.
Watch this week's Ideal Marketing Minute here.
If working out the value you create feels hard to pin down, you're not alone. It's tricky to see from the inside. Our Value Scope helps you uncover what your best customers truly value, so you can price with confidence and stop competing on hours. You can also explore What Are You Worth? to start thinking differently about your pricing.
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This video was made for the Ideal Marketing Minute – A weekly email that asks a key question about your marketing and business that you can review in under a minute. Make sure you don’t miss another email by signing up here. You’ll also be able to view previous emails and access the resources for this video.
