This is the most difficult question to handle when you are running your own business.
You don’t want to have too high prices so no one is booking you, at the same time as you want to make A LOT of money…
I’m here with some mindset about pricing your creative business.
pricing your creative business
This blogpost is made as a recap of my miniseries at my instagram that is found under #pricingdesignbyjosephine
Don’t go too low with your pricing!
This is an interesting point of pricing that many people don’t think of. That your prices actually can be too low.
I know it sounds a bit crazy but imagine if a company has a very good looking website, with excellent service/products and then have very low prices!
Don’t you get a bit suspicious?
The price picture is not equal to the standard they are selling.
You, as a potential customer expect the prices to be higher and when they are not, you wonder what’s wrong.
I think this is a very important thought as we do everything to evolve so many parts of our business in order to attract clients that are willing to pay more, ACCEPT the fact to actually raise our prices.
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How to present your prices on your website?
There are different answers to this question. And they depend on where and how you are working in your business.
If I just ask myself when I search for something online and find something I like. I want to know the price. Depending on how much I want it, that decides if I bother to send a mail and ask for the price.
So for me I always think it’s good to show your prices. It also automatically filters the customers that think that you are too pricey, and it will save you a lot of time.
But when not showing your prices you will receive a lot of mail asking for the price and with this “personal” contact you have a chance to actually sell your service to this potential client in another way. You already have made a contact and started building a relationship.
With this said, I think the best solution is to show your prices on your page, or at least mention where your services start at.
If you don’t you need to have a strong and well working system to convert the potential clients contacting you for your pricing.
How and when should you raise your prices?
This is both difficult and scary. As you are afraid to lose a lot of clients.
The secret is to not just double your prices over a night. It’s ok to slowly raise them. A little less but more often.
Then you current clients have time to adjust to your new prices as well without giving them a hiccup!
This will create a slow transition for your clientele. At some point your prices will be too high for some of your existing clients, but during the way you have found new ones that resonate more with where you are in your business right now.
Should you announce that you are raising your prices?
Have you ever been at the supermarket and seen signs that inform you that next week the prices of carrots will rise?
No, I don’t think so!
But there is a gray area. And that is for the ones that have sent an inquiry to you. If you are planning to raise your prices after new years, and you got an inquiry before that, it’s wise to inform them that if they want those prices they need to book before the last december.
Pricing your creative business is scary
It is scary to raise your prices, it always comes with a fear that clients will abandon you.
But if you follow my advice raising your prices slowly, small adjustments but more frequently, there won’t be any big chocks or surprises for your clients but it will also be less scary for you.
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