Manage episode 234090578 series 2476247
Why you have to check out today’s podcast:
- Why you should charge a premium fee for your services
- Why undercharging is killing your business
- The halo effect of premium pricing: How to use it for your business
David Newman specializes in working with speakers, authors, consultants, and independent professionals who want to stop throwing money into a marketing black hole and attract, engage, and win more clients. He’s been running his own business called Do It Marketing for 18 years. He earned his CSP, Certified Speaking Professional from National Speakers Association. David hosts his own podcast called The Speaking Show.
In this episode, David will walk us through the ideas and strategies of charging a premium price for your product and services.
In his vast experience as a speaker and consultant to various big firms in different industries and to solopreneurs, be assured he will share the relevant pricing tactics of reinforcing that psychological perception of premium products and services.
“You have to charge premium fees before you think you are ready to charge premium fees. Your pricing is your positioning. And your positioning is integrated into your pricing. ”
– David Newman
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01:44 – Relating his transition from being a corporate consultant to helping other speakers raise their game
03:33 – The feeling of fulfillment seeing his clients reach their goals
04:43 – His thought on ignorance and undercharging your services
08:12 – Why do people hire speakers? Is it for content or delivery?
12:21 – Influence and Differentiation in a pricing frame of mind
14:51 – How much should you price your service as a speaker
18:54 – The halo effect of premium pricing: How to use it for your business
19:48 – On pricing less than what you are really worth
23:47 – The value of premium pricing
25:31 – Pricing advice from David: “People buy who they are, they really buy who they are. There are passengers on an airplane that always fly economy, would never think of business class or first class because it doesn’t match their identity. It’s not who they are.”
“The more research that you do about what's the going rate in your market, in your topic for your level of expertise, you will be shocked. You'll be shocked and stunned about how much you should be getting. Because we always underprice ourselves and we always overestimate the value that others deliver.” - David Newman
“When people pay more, they pay more attention. They value your product more just because they paid more and then they implement more and then they get more results.” - David Newman
“When you're not offering something at a premium price, I guarantee you that you're leaving money on the table. People that want the biggest, the best and the most expensive, if they don't see it with you, they're going to go find it with somebody else. ” - David Newman
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22 episodes available. A new episode about every 7 days averaging 25 mins duration .