Jan. 30, 2021

Episode 15: Finally Learn The Secrets Behind Perfectly Pricing Your Offers

Episode 15: Finally Learn The Secrets Behind Perfectly Pricing Your Offers

Pricing your offers doesn’t have to feel like drawing a number from a hat or cracking the nuclear codes. Finding the perfect price for your offer is much simpler than you might think. Today I am breaking down the 3 keys to perfect pricing so you can confidently price your programs at any level.


Pricing your offers doesn’t have to feel like drawing a number from a hat or cracking the nuclear codes.

Finding the perfect price for your offer is much simpler than you might think.

Today I am breaking down the 3 keys to perfect pricing so you can confidently price your programs at any level.

BY THE TIME YOU FINISH LISTENING, YOU’LL DISCOVER:

  • Why “charge your worth” is total crap, and what to do instead
  • How to find your perfect price for your offer, without the drama
  • The most important thing to consider when it comes to your prices
  • What your price is subconsciously conveying to the people you’re marketing to

The doors to my program, The Offer Fix, are opening soon! Make sure to get on the waitlist to be the first to join! Go to www.jessoconnell.com/waitlist to register!

Check out the shownotes so you can get access to bonus materials and related blogs and videos!! www.thelaunchfixpodcast.com/perfectly-priced-offers/

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Or slide into my DMs, I’d love to hear what your biggest takeaways are! 


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Transcript

If you've ever struggled to figure out your perfect price for your offer, you don't want to miss this one. Stay tuned. I'm Jess. After launching dozens of courses and generating multiple six figures in Revenue Online, I have learned the right and wrong way to launch an online course. And in the last two years, I have helped my friends and clients generate more revenue with less stress using my aligned Launch Formula. On this podcast, I'm sharing with you my simple strategies and systems so you can make more money online and make a bigger impact on the world. Keep listening for the launch fix podcast. Hello, hello, and welcome back to the launch fix podcast. My name is Jess and I am your host.

On today's episode, I am digging deep into how to perfectly price your offer. There are so many mistakes and misconceptions that I see people making when it comes to pricing. And I am addressing all of them and going deep on how specifically, you should come to the price of your offer if you want it to be the perfect price for your offer. So this is the last day of the offer audit workshop. And the doors to the offer fix program are opening soon. So stay tuned for all the details on that. And how you can get access to this program for free. You definitely don't want to miss it. So listen to today's episode. Enjoy. Alright, hello, hello. Welcome to day five of the offer audit workshop, I am so excited that you have made it to this workshop with me that it is already day five. And that today we are talking about my favorite topic, which is price. So again, if this is your first time joining us Hello, my name is Jess, I am the creator of the aligned Launch Formula, and the host of the launch fix podcast. And I am so excited to have you here to learn more about how to create an offer that truly captivates your ideal client and converts them into paying clients. It's so important.

So I want to double check that we're truly live on Facebook. It looks like Yep, there I am. So hello, hello, if you're watching us on Facebook, I am going to go ahead and get started. So when it comes to talking about price, there are so many different thoughts and feelings and things that come up when it comes to price. And there's one belief and one common misconception that people talk about when it comes to price that I think is dead wrong. And that is to price your worth. Let me know if you've ever heard price your worth that you should be charging what you are worth. And I honestly think that that's total crap. But don't panic, because I have a good reason for believing this. The first one is your worth is not monetary, your worth is unending, it is infinite. And it has nothing to do with the price that you charge. And I think that when people hear this price, your worth or charge your worth, what they end up doing is subconsciously tying their worth as a human to the price that they have for their offers. And this is an incredibly toxic thing to do.

Because your price is not your worth, you are worth so much more than what somebody is paying for your offer. And so I want you to disassociate those two things now if you've ever had them wrapped up because somebody told you to charge your worth, because that's total crap. The second thing is, and this is really important, pricing isn't just about you. Pricing is a relationship between two people. So when you only take one side of that equation into consideration, when you just care about you, you're likely falling flat for your ideal client. Because your pricing is a relationship between you and your ideal client. It's an agreed upon number. And so if you are only worried about charging your worth and making your price mean something about your worth as a human, and you're not paying attention to the other side of that relationship, you're going to create pricing that feels really like attachment II and not really in alignment for you. And it's going to completely miss the mark for your ideal client. So we're gonna ditch price your worth, and we're going to talk about what to do instead. So your price might be the thing that's pushing people away.

And it might even be doing it without you realizing it. And the thing is that most people struggle to price their offers. And there really is no definitive like guidebook on how to price your offers out there. And so I wanted to offer some guidance on this and really create a framework to coming up with your perfect price to help you get past all of that unknown. Another thing that people often do is that they tend to go off of the prices that they have paid before. Like, they look at the coaches that they've hired. And they're like, okay, she's charging this much for this, I should charge this much too. And oftentimes, what that ends up doing, when you use somebody else's pricing as a barometer for what you should be pricing, you're not energetically in alignment with that price on a deeper level. And that's something that could be totally sabotaging your price, like your offers as well within your price.

And oftentimes, people just totally guess, it's okay, to be honest, if that's been you, totally guessing what to price your offer. But really, there is some science behind it, that's deeper than just guessing that will get you a number that not only will you be energetically aligned with but your ideal client will be too. So pricing is such an important piece of your offer. One of the biggest reasons why is that your price sets an expectation, it creates this bond, it creates a contract between you and your client who is paying this price. And it sets the expectation of the value of the of the offer, right? It creates this expectation of Okay, I've invested this much money, therefore, I will be investing this much time, or I've invested this, so I should receive a return on that investment. And so your price sets an expectation of what to expect when they get into your program. Your price also does a really good job of qualifying your audience. If your ideal client is somebody who cannot afford the price that you have, there's a mismatch in alignment there. You're not pricing yourself for your ideal clients.

And so you really have to think, is this price attracting my ideal audience member. And it does a really good job of qualifying people who either are not ready for that commitment or ready for that investment. But it also does a good job of like telling your people who is right for this offer. And so it goes above and beyond your worth, or whatever arbitrary thing that you are choosing your pricing based on. So when you figure this out, and when you really master these three elements of pricing that I'm going to talk about today, not only will you finally have a price that feels perfect and aligned for you, you will feel like a full body energetic hell yes, for your price, you'll have confidence in charging it, you will feel effortless worth about receiving it. And you will have no doubts in your mind that what you deliver has value that is equal to the price of the offer. And being a full body energetic hell yes, for your price, is the only way that your price works. Because if you have any doubts about what you are charging, your ideal clients will too. And I have a story I'm going to share in just a minute about this.

But your energy about your price is going to dictate how your ideal clients feel about your price. And this is something that one of our friends on here in the front row dealt with in her last launch. Katherine had some feelings about her price, which then manifested as objections to the price or like people not seeing the value in the price in her launch. And so it really is important that you are a full body energetic hell yes, for your price. And the second thing is that when you figure out these three things that I'm going to talk to you about today, your ideal clients will be two. And that's really important. Because like I said, your pricing is a relationship between you and your client. They have to be a hell yes for that price, too. And you can probably think of a time or maybe you can't, and that's totally fine. Where you invested in something that felt like too much. Like maybe you bought a car that was like a stretch on your budget and you were worried about it.

You felt anxious about the price. You didn't know if you could make the car payment, you felt stretched, you felt uncomfortable about it, and it wasn't an aligned thing. It wasn't something that made you feel full body energetic, hell yes. And even thinking back to investments in your business, there are really good investments that are like a stretch. And I do recommend those that like help you step into the next level of person who makes those level of commitments. So feeling stretched in your investments is good. And we'll talk about that too. But like, have you ever made an investment in your business that felt risky, and it felt high stakes, like Oh God, I just put this much money down. I have to go results, it has to be the thing that makes the difference. It has to be the end all be all in my business because you put so much on the line.

And when your price makes your ideal client feel like that they're not going to come at it from an aligned place, they're going to be worried about the money, and they're going to be freaking out about it the entire time. And they're not going to get the results that they want or that you want them to get when that happens, because they're going to be so preoccupied worrying about the price. So your clients being an energetic hell yes, for your price is absolutely key, because they're the ones that have to pay it. And the third one is that when you have your perfect price identified and nailed down and full clarity, you'll be able to effortlessly scale, your perfect price is the price that you can scale your offer with, which is how you grow. And whether you scale with evergreen, or you scale by launching again and again.

And again, when you have the right price scaling becomes effortless, because then you can figure out the bigger numbers like earnings, I'm not going to get into the weeds with the numbers and stuff. But like there's some key metrics that will help you scale your business. And by nailing down your perfect price. It makes figuring out those metrics and growing them so much easier. So how do you figure out your perfect price? This is such a good question. And what I'm going to go into today. So there are three elements of the perfect aligned price. The first thing is that it needs to be a hell yes for you, which you probably could have guessed by now. So what that fully means is that you 100% in your whole body, believe in the value of that investment. You believe that this is the right price for your offer. And you believe that you are completely worthy of receiving it. If there are any doubts in either of those two areas, you are not going to have the right price that feels like a full body energetic hell yes to you.

Because if one you don't believe in the value of your offer, if you don't believe that, it's worth that, you're going to add stuff to your offer, like I talked about stuffing your bonuses and stuffing your program to make up for a misaligned price. Or you're going to offer discounts or you're going to try to qualify the price rather than fully owning it in your body and saying like, yep, this is the price and it's completely worth it. So if you have any doubts about that, that means that you're not in alignment with your perfect price. And that's okay, we can figure it out. And the second thing is fully believing that you are worthy of receiving that price. And I actually had a really beautiful lesson about this that I'm going to share in just a second. But if you don't believe you're worthy of receiving the money that you are charging, you are going to subconsciously repel people from giving you that money.

Because you don't believe that you're worthy of receiving it. And if you have found yourself like cutting lunches short or ghosting or like really struggling to show up authentically, it's probably because of one of these two issues if your price has been the struggle for you not feeling in alignment with that number. So when I first started my business, my very first offer was $59. And I felt such an energetic hell yes to that number. Sure it was low end, but like I felt like what I was delivering was worth it. I felt like it was the perfect price for me. And I easily and effortlessly sold that offer. And then my very first launch ever I made 15 $100 and I had 25 or 26 people buy that offer out of like a launch list of 40. So super high converting. And it was because it was the perfect aligned price for me and I felt like an energetic full body. Hell yes, about that price. Then the next month, I tweaked the offer a little bit. And I raised the price because I felt like I needed to charge higher prices to make more money like I created this belief. It wasn't coming from a place of like Oh yes, I am this is worth more now it was coming from a place of I should do this right?

I'm sure even a coach that I had, at the time told me to raise the price because that was the kind of advice I was getting back then. And so I raised the price to 149 which was a whole $90 more and I remember very distinctly freaking out the entire time and saying like oh my God, who am I to charge 149 Oh my God, this isn't worth it. Oh my god, people are gonna think that it's not worth it. They're gonna want their money back they're not gonna think there's value in it. And the whole time spiraling in my head about the price and you want to know what happened. less people bought it I think like five and so I went from such a hell yes full body like aligned price to an OH MY GOD IS worth it? What am I trying to do here? Who do I think I am kind of price and seeing the results from that energy. And that was when I realized that it wasn't about the price. It was about me it was about my energy with the price. And obviously, since my prices have increased dramatically, my like, everything about my business has changed since then. But I learned that lesson in such a beautiful way that I now sit with prices. And I'm like, is this the right price?

I don't care what so and so is charging for their offer? I don't care. What is working over here for somebody else. I asked myself like, does this feel like a full body? Hell yes. For me, and if it doesn't, I pick a different price. And I really play with it. And I say, Okay, well, what would be a hell, hell yes. For me, what would be a price that would make me feel fully in alignment with receiving that. And when I get to that price, that's when I know that I have the first one down, is it has to be inside my body feel like a hell yes. The second element of your perfect price is that it has to be proportional to the commitment needed to get the results. And this is really important too. Because like I said, your pricing creates an expectation, it sets the bar, and it will attract either the people who are right for you, and it will repel the people who are not. And when you create a mismatched expectation, it means that your pricing is not aligned.

And a great example of this is something we talked about earlier in the five days was that $29 offer that had five hours of video content in it, that $29 created a $29 expectation, it created an expectation that I would be able to get results in a $29 amount of time. And then I got into the program and I was like oh my god, this is way too much, I don't have this kind of time, your pricing needs to be proportionate to the commitment needed to get results. If it's going to take me five hours to watch all these videos to get the results, your price should reflect that. Because your price sets an expectation, I am sure that that content was fantastic. But I'm also sure of was that I was not going to consume it, because I did not have the level of expectation needed because of the misaligned pricing. So that's really important too. So your price should be proportionate to the commitment needed to get results.

So if your program involves a lot of time and like commitment to get the results or to get the outcome that they desire, keep in mind that their commitment to it is going to be in proportion to the price that they pay for it because their financial commitment sets the expectation of their time and energy commitment to get the results. So by the way, also, if your program is outcome based, and not like results based, think about what is the value of this outcome, your praise should be proportionate to the value of that outcome. Alright, the third thing is, is that it should be a hell yes, for your ideal client too. And this is what I was touching on earlier. And this is the thing that a lot of people skip on. And so this is the thing that I think a lot of people and a lot of coaches don't coach on either, right?

They say price, your worth, pick your price, right, but they don't factor in the other person in the equation. And so what ends up happening is people create pricing that they feel like, like it's worth it, right? I feel like this is the perfect price for me. And maybe it's proportional to the commitment needed to get results. But then it's completely out of alignment for your ideal client. And this is really important because your ideal client is the person purchasing it. And then when you have that happening, you start to get frustrated that nobody's buying your offer. And you think that it means something about your offer, when at the end of the day, you just didn't take a minute to look at it from your ideal clients point of view, and see, what does this look like. And one of the biggest places that I see people struggling with this is thinking that all audiences are the same.

There are two very distinct sides of this online business world. And depending on which side you're on depends on how your offer and how your pricing will be received by your ideal client. So one side is b2b, which is business to business, which is where we are now you're a business owner. I'm a business owner. I have a b2b business where I sell things to business owners. And so the pricing in the business to business world is different than the other side which is business to consumer and that means that you as a business are selling things to a consumer to a normal person who doesn't have a business, who is just living their normal life. And so what ends up happening is that people who are in b2c, see people who are in b2b, charging high level prices, and the start to compare. And they start to say, well, so and so was charging 497, I should charge 497.

And what they don't realize is that 497 to a business owner, that person sees, okay, this is a return, there's a return on this investment. When I pay 497, as a business owner paying a business owner, you then think, Okay, well, I can use the strategies, I'm going to learn or use what I'm going to get from this and make more money back. In b2b, there's often an ROI, which is a whole lot of acronyms. But in b2b, there's often a return on that investment, which factors in to your decision making process. When you're weighing that value of that offer, you're like, Okay, what is this gonna make me in b2c in business to consumer businesses? There really isn't an ROI. People in normal world are not saying like, what is the return on my investment for this, right. And so they look at pricing differently, in a way that I was really confronted with this recently is I had posted on Facebook, asking like, Hey, does anybody know of any courses or any, like blogs that talk about home organization, I decided, we bought a new house, I wanted to start organizing my home.

And in that I had a friend who was like, yeah, so and so is launching their program right now. It's really great. And it's like, $19, and I was like, oh, fabulous. And I went to take a look at it, and the doors are closed. And I was like, oh, like, that's not available anymore. And she was like, Okay, well, here's somebody else's, but it's really expensive. And I clicked on the link, and it was $79. And it made me laugh, because like in b2b $79 is not expensive. But in b2c, it is right. She's a mom, she has three kids, she has a job, like in her B to C in her consumer world. $79 is expensive. That's almost a grocery shopping trip, right? That's dinner out for her family. And so they have like the consumer ways that price and is like, Okay, what else could I spend this money on? So for a business owner, they ask how much can this make me? And the consumer asks, How much?

What is this costing me? What else could I spend this money on? And that's what you have to take into consideration when you're pricing your offers, whether it's b2b or b2c? Because b2c, they see things differently. So ask yourself, Is this price a hell yes, for my ideal client, too. And the great example of this is I was talking to a former client earlier this weekend, who had a really amazing program for mothers, and she was pricing it at $333. And people were giving her price objections, and they were struggling with that. And I had a conversation with her about it, like, does sure your programs amazing. But what she's thinking is, this is a car payment, right? 330 bucks is a car payment. And so she's weighing, am I going to make the car payment this month? Or am I going to buy this six week program. And when you start to understand that that's the decision making process that they're going through, you can start to figure out what an aligned price is for them.

So the question here is, is this transformation in parentheses, and I'll put this in the chat worth the price equivalency to my ideal client. And so is the transformation of this six week course, worth a car payment to my ideal client? Is this transformation worth a dinner out with my family to my ideal client, especially if you're if you're in the b2c world? Because that's the question that they are asking themselves. And so when you can start to see that and answer that question with your marketing, and help them see that, yeah, like this is worth this money, because it's going to teach you this and that's going to pay off in other ways, then you're having a whole different pricing conversation. And then you know that you're creating programs that are within the reach of your ideal client, if it's in b2c, and then with b2b asking like, what is the return on this investment? How much can they make if they spend this money? And I just wanted to point out that low end does not mean low profit.

And I think that there is a misconception in this world that only high ticket offers have value. And I think that there is value in high ticket, I have a high ticket offer. And I have very low ticket offers. And I think that the thing that people get wrong is thinking that low end doesn't mean, or that low end means low profit. But that's not true at all. And a great example of this, I have a friend who has a meal planning membership for $19 a month. And she launches it four times a year and consistently has six figure launches. So she's making $100,000, every launch with a $19 program. The difference is her business model is about volume. It's not about individuals. But because her membership runs like a machine, she has the systems in place to bring in 1000 new clients every single launch, and to scale that. And that $19 is every single month, it's not just in the first time, so really does start to pay off. And so thinking that low end is not the way to go. When you have a b2c business, you might be pricing yourself out of a business.

And if you're struggling to get people to say hell yes to you, it might be because your price is not in alignment with their commitment to your transformation or to your outcome. So let's dig into your price. Sorry, that got a little long winded there for a moment. So we're gonna dig into today's assignment. So looking at your price, I want you to answer these three questions to get some feedback. So the first one is, what price feels like a full body energetic? Hell yes, for your offer. And either This is the price that you already have. Maybe it's a different price. Maybe this brought some stuff up for you. And so what price feels like a full body energetic? Hell yes, for your offer? The second question is, what is the level of commitment required to get results? Or if you don't have a results based program? What is the value of that outcome? And then number three, is your outcome worth the price equivalency to your ideal client. So thinking of your ideal client, and something else in their life that they would pay that amount of money for? Is your outcome worth that price equivalency to your ideal client, try to put yourself in their shoes, and see if that is in alignment for them.

So those are three questions for today, make sure to answer them and then we'll get you some feedback in the group. And today's the last day of our free offer audit challenge. So I wanted to share with you guys what's coming next. So now you know what things your offer should have to get the best results. But really, we have just barely scratched the surface here. And if you are still struggling to create offers that convert and really speak to your ideal clients, and are scalable, or maybe you just had issues like articulating the value of your offer and creating that desire and demand, then you know that there is more work to be done here. And what you could do, honestly, I've given you a ton of information is you could take what I've taught you here today, and you can go and try to DIY your offer just like you've always done. But I want to ask you, are you still going to be duct taping your business?

When you have the level of business that you desire? When you are that person who has consistently converting offers? Who is an energetic help rest for their price, and who has all of these things in place? Is that person is that next level business owner duct taping her way there? Or is she investing in herself to get the or himself to get the level of support that they need in order to really maximize this piece of your business. So you could duct tape it or you could really plug into a proven system and learn how to truly position yourself and your offer. craft your program, build out your package, capture your promise and pick the perfect price for your offer. You know that you have this problem, you know that you are ready to solve this if you feel like your program is such a no brainer, but it's just not selling or it's not selling as much as you wanted it to.

Or maybe it's sold the first time but the second time or third time was a total flop. And you're really starting to wonder if your audience is right for your offer. Or if you have outgrown them and you're ready to figure out who's next. You're also ready for this if you know that your program is great, but you want to position it to scale. You know that it helps the people that you've gotten into it but you haven't been able to adequately articulate the results and the desire around it to get even more people in so you can grow it and once you get this problems solved. Once you work through the offer, fix and really nail down having a high converting offer. Not only will you have more confidence and clarity in your offer, but your content will create desire and demand for your offer before you ever sell it, people will be sending you messages asking how they can work with you, which actually happened to me a couple days ago.

And I was like, hey, spoiler alert, I'm launching something. So that'll help um, but people are reaching will reach out to you, because they already want what you have to offer based on the content you've created using this system. And you'll be able to effortlessly articulate the value of your offer. I was talking to a client who just went through this system and she said one of the most valuable pieces of going through this was that it created a blueprint for your offer. And she was able to write her sales page and write her copy and write her emails and create her offer in a much clearer way because she had the blueprint of taking her offer through with this system. And so I wanted to share that with you guys today. I have a really exciting announcement coming on Monday the doors to my program the offer fix are opening on Monday and I am doing something I've never done before and I am giving one of them away to one of you guys for free. So I have a really exciting way that you can get access to the offer fix totally for free.

So if you want to learn how to do that, or just get all the details because I am all about giving details before the doors open Make sure to get on the waitlist. Tonight I'm going to be sending out an email including the price including all of the modules and what comes in it so that you have enough time to make the decision before the doors open on Monday and so if you want to get on the waitlist go to Jess O'Connell dot com slash waitlist to get on there and make sure that you get your email with all of the details and to learn how you can get the program for free so you don't want to miss out on that. All right. Well if you have any questions let me know in the Facebook group I will share those questions from earlier about the price and I can't wait to chat with you then. Thank you so much for watching and I will see you soon. Thank you so much for listening to today's episode again. If you want to get on the waitlist for the offer fix go to Jess O'Connell dot com slash waitlist to get on that and I will see you in my next episode.