You may recall my dilemma about pricing and value some weeks ago. Unfortunately for me, when someone asked me for my prices while out networking recently, I had not read growth expert Amanda Downs‘ excellent booklet on pricing mindset mistakes. And I made nearly all of the following mistakes that she says we make while talking about pricing:
- Assuming that people buy on pricing. Whereas it’s more about value that people buy on.
- Selling on features and not on benefits.
- Talking prices too early
- Assuming an objection means a discount and
- Having naked price rise
But once I had read the booklet, I was bit more prepared to answer when confronted with the question about my prices. This time, the question came from a member of the audience when I was making a presentation. And I must confess, it was not easy speaking with conviction about what I charge to shoot a promotional video.
I had to swallow the apology that rose to my throat before I named a price. I had to swallow once again so as to not mention it too early. I had shown a sample of my work which I hoped would convince them of the value of what I was offering. Still, the person who asked the question was waiting for an answer and I had to say something.
I cleared my throat and mustered a “It depends…” before elaborating on how I go about working on a project. That seemed to satisfy them, I made a mental note to take the conversation further with them in private and moved on to the next question.