5 Tips for Pricing Your Offer

Have you been struggling with how to price your service or course offer? Well, you are not alone. Pretty much all online entrepreneurs get stuck here and even put off launching their offers because of it. Working with my clients, I’ve learned a few things… hopefully, these pricing tips can help you too.

1) How much do you need to earn?

Here’s the basic concept. How much money do you want to make on your service or course sales? Think about the following:

• Time Investment: How many hours did you spend planning and creating your offer?
• Monetary Investment: Did you pay to hire writers, editors, designers, etc. to help create your offer?
• Cost Of Sales: What percentage of each sale will go to pay your payment processor and platform hosting fees?
• Projected Sales: Think about a realistic number of offers you can expect to sell.

2) What is the return on the buyer’s investment?

It’s also important to consider how much your buyer can possibly earn from their access to it. Let’s take a course offer for an example – if your actively engaged students consistently increase their monthly income by $200, then it’s reasonable to charge $400 or more for your training.

3) How committed are your buyers?

Or maybe, how committed do you want them to be? Usually, the higher the price point, the more invested a buyer will be in it. This means that they’re also going to have the results you promised, which leads to a better return on their investment. If you can provide the value and the case studies to prove a solid return, it’s reasonable to price your offer higher to encourage commitment on your buyers’ part.

4) How unique is your offer?

You might think that there is nothing you can provide that hasn’t already been done before, but there’s plenty that can make your offer stand out from the crowd. You can present it in an unexpected way by using design elements to draw in your target buyer. Another way to make your offer more valuable is to include bonuses like a free mini-offer – service hours, worksheets, checklists, videos, or templates.

5) What’s your gut telling you?

Finally, deciding on a price for your offer ends with simply following your intuition. After all, you know your audience and your pain points best. Don’t overthink it and use pricing as an excuse not to launch. The world needs and wants what you have to give… you won’t regret it!