Hey there, Creator!

How often have you agonized over what to charge for your products or services?

You know that sinking feeling when you're hosting a webinar, and your leads start asking about the price…

Or you're about to hit "send" on your offer and release your paid product into the wild…Be honest:

Your palms are sweaty, your heart's racing, and your mind's spinning with doubts:

"Am I charging too little? Will people take me seriously if my prices are too low?"

“I have spent hundreds of hours trying to over-deliver for my subscribers and leads.”

"Am I leaving money on the table? Could I be charging more and attracting/serving higher-quality customers?"

Pricing paralysis is real, my friend.

And it can keep you stuck in a cycle of underearning and overworking faster than you can say "profit margin."

But what if I told you there's a way to confidently charge premium prices that reflect the true value you provide?

"If you're not charging enough, you're probably not offering enough value, and if you're offering enough value, you're probably not charging enough."

Todd Herman

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Why Your Price Is More Than Just a Number (It's a Powerful Psychological Trigger)

When it comes to pricing, most online entrepreneurs and content creators fall into one of two camps:

• The "race to the bottom" crowd slashes their prices to the bone to undercut the competition and attract more customers. You know who you are.

• The "blindfolded" crew pluck a number out of thin air based on their gut feeling or what they see others charging. Stop undervaluing yourself and your experience!

Both approaches can lead to a vicious cycle of undercharging, overdelivering, and ultimately burning out.

But when you embrace premium pricing?

That's when you can use psychology to position your offers as the best.

CONSIDER THESE EYE-OPENING STATS:

• A study by researchers at Stanford and Caltech found that increasing the perceived price of wine from $5 to $45 increased people's enjoyment of it and rating of its taste. The price literally changed their brain chemistry!

• In a famous experiment by The Economist, offering three subscription options ($59 for online only, $125 for print only, or $125 for print + online) led to 84% of people choosing the most expensive option. Removing the "useless" print-only option caused 68% to choose the cheapest plan.

• According to a study by the National Bureau of Economic Research, a $100 increase in the price of a college textbook led to a 5.9% boost in student performance. Students perceived the pricier book as more valuable and worked harder.

The "Perfect Pricing" Prompt

Insert your offer details into this prompt, and let the algorithms calculate the numbers for you:

I'm looking to determine the optimal price for my offer. Here are the details of my offer:

[DETAILED PRODUCT/SERVICE DESCRIPTION INCLUDING TARGET MARKET AND THEIR KEY PAIN POINTS/DESIRED OUTCOME].

Some of the key benefits customers can expect from this offer include:

[BENEFIT 1]
[BENEFIT 2]
[BENEFIT 3]

My top competitors and their pricing are:

[COMPETITOR 1] - [PRICE]
[COMPETITOR 2] - [PRICE]
[COMPETITOR 3] - [PRICE]

To find the perfect price, let's use the value-based pricing framework:

Step 1: Understand the perceived value to the customer. Based on the benefits and transformation provided, what is the maximum amount the ideal buyer would be willing to pay for this offer? Consider the tangible results, time/money saved, and emotional impact.

Step 2: Analyze the competitive landscape. How does this offer compare to alternatives in the market in terms of pricing and value delivered? Aim to position this offer as a premium option that commands higher prices than the competition.

If the offer doesn't currently justify a premium price point, provide recommendations for enhancing the offer to increase its perceived value. Consider adding unique bonuses, personalized support, or exclusive features that set it apart from competitors.

Step 3: Determine the ideal price point. Based on the offer's value and competitive positioning, suggest a price that is a) higher than the competition, b) aligns with the offer's premium value, and c) is still within an acceptable range for the target market.

Explain how this premium price will reinforce the offer's positioning as a superior choice in the market. Customers should feel they are getting an exclusive, high-value experience that warrants the higher investment.

Step 4: Provide suggestions for framing and presenting the premium price to highlight the incredible value provided. Share ideas for using anchoring, bonuses, or pre-payment incentives to make the price feel like an irresistible deal.

The final recommendation should give the confidence to implement a premium pricing strategy that focuses on raising prices to reflect the high-end value delivered. 

Provide a clear roadmap for enhancing the offer, implementing the new pricing, and communicating the change in a way that builds excitement and buy-in from potential customers.

The analysis and recommendations should emphasize that premium pricing is not about short-term gains, but rather about building a brand known for unparalleled quality and customer results. Charging higher prices will attract a wealthier, more committed, action-oriented clientele who are driven to succeed.

With this approach, price becomes a powerful signal of the incredible value customers can expect, rather than a barrier to entry. The goal is to create an offer so irresistible, customers will be eager and grateful to invest in themselves at this premium level.

HOW TO USE THE PERFECT PRICING PROMPT:

1. Fill in the [DETAILED PRODUCT/SERVICE DESCRIPTION] with your offer details, target customer, and their key pain points/desired outcome.

   Example: "The AI Solopreneur Accelerator is an 8-week program for content creators and coaches to harness AI for audience growth, content creation, and sales. Perfect for solopreneurs struggling to stand out, feeling overwhelmed, and wanting to leverage AI to work smarter."

2. List 3-5 key [BENEFITS] your customers can expect from your offer. Focus on the most compelling outcomes and transformations.

   Example: "1) Create a month's worth of content in under an hour with AI frameworks 2) Attract 5+ ideal clients in 30 days with AI growth strategies 3) Sell out premium offers and scale to $10K/month in 90 days with AI sales scripts 4) Save 10+ hours/week by automating tasks with curated AI tools 5) Join a community of 50+ AI-powered solopreneurs for support and inspiration"

3. Research your top 3 [COMPETITORS] and include their [PRICE]. Aim to identify the current premium options in your market.

   Example: "1. AI Coach Academy - $4,997 2. The Content Creators AI Toolkit - $2,500 3. Sell with AI Mastery Program - $1,999."

4. Press enter and watch AI perform its magic.

WHAT YOU LEARNED TODAY

• The surprising reason why higher prices can attract your ideal customers (hint: it's all about perceived value)

• The "Perfect Pricing" prompt helps you find the optimal high-end price point for your offers

• Real-world instances of how identifying the perfect pricing can establish you as the leading expert in your niche.