Don't you dare to raise your prices for fear that they won't buy from you? Many online business owners believe that they will lose customers if they start charging more for their products and services. In fact, it is the opposite; And there are 5 reasons that show why you should never sell at too low a price.
I have seen that most web entrepreneurs have a tendency to put prices too low, especially at the start of their business.
The underlying problem is that they tend not to value what they deliver, they feel insecure and they fear that no one will buy their products.
However, contrary to what many people think, a low price does not produce higher sales.
What it does produce is: many problems!
Problem # 1: Your business will not be profitable.
If you do not charge the value of your product properly, your business will not be profitable. If your business is not profitable, as much as you are passionate about it, you will not be able to carry it for a long time and you will have to close. This means that you will not be able to continue serving your clients and the message you need to share so much will not be heard.
In other words: it is your responsibility to achieve an acceptable profitability for your business, not only for yourself, but also for your clients.
Problem # 2: feelings of rancor.
I have seen that when the business owner does not charge a reasonable price, he begins to feel a subtle feeling of resentment towards the client or towards the production of the product. Grudge is a very dangerous feeling that will harm your customer service and negatively affect your entire business.
Problem # 3: Your programs won't sell well.
Contrary to what one thinks, a very low price does not increase sales, quite the contrary. A low price implies that the product being sold is of a very low value.
It is the same thing that happens to you when you search for a product on the web. For example, you are looking for an electronic device that normally costs around $ 100. As you search, you suddenly find a similar product that costs only $ 30.
Would you buy it? Probably not, because you wouldn't trust the value of the product.
The same will happen with your membership site if you rate it at a lower value.
Issue # 4: Low prices attract loyal customers.
Normally a product that sells for little money is bought with little commitment. It can even be a good quality product, but, most of the time, the buyer does not see it as such and never takes the time to take full advantage of it.
You have to define what type of customer you want to attract to your membership site. I personally prefer a handful of people who are learning with passion and a lot of commitment, than a lot of members who will never take the time to consume my product.
Problem # 5: Clients don't get results.
As I said earlier, a customer who buys a valuable product for a low price does not perceive its value and usually does not take advantage of it, therefore, these customers do not obtain the results that you are offering.
If your clients do not get the results they are looking for, they will not stay long with you and, even worse, they will not speak highly of your business.
