On using your brand to charge what you're worth and build value
A truly powerful brand is one that connects with your client, inspires them and gets them excited to do business with you. So excited, in fact, that price becomes secondary to their desire to have your business in their lives. It's an interesting fact in life that money has a funny way of making itself available when we really, really want something.
The thing is, we're generally reluctant to part with money for anything we can't see value in. And until we're completely confident that a purchase is worth the money that's being asked, we're stressed, and unsure, and require constant pacifying or incentivising to convince us that the world won't end if we spend that money. That's not a happy place for your business. It means you'll lose way too much time convincing people to work with you and not enough time actually doing the thing that you were put on this earth to do. Worse still, you're not charging enough for your talents and run around like a headless chicken trying to keep everyone happy for not nearly enough money.
If you want to really charge the money that you're worth, you need to showcase your talents, demonstrate your expertise and show the world that you really know your stuff.
1/ Know your worth
What is it that makes your business uniquely valuable compared to all others in your industry? Why does that matter to your clients? Remember the old marketing line: sell your benefits not your features. People generally don't give a hoot about the fancy kit that you use, or the process you spent years perfecting. They care about results, and how much better life will be once they've worked with you. Tell that story.
2/ Communicate consistently
We are reassured when we hear the same message multiple times, so make sure you're being consistent in the story you're telling. For example, you'd be worried if I used our website to showcase our talents as brand designers but use our business social media to tell you about our origami skills (which are non existent, in case you were wondering). Better to reinforce the point, at every turn, that we're incredible brand designers with a knack for commercial strategy, leaving no room for doubt in the minds of our potential clients.
3/ Position your business strategically
No-one ever wants to be seen as the cheapest option. Better to create a unique offering around what you do and build value on top of that rather than just go in priced at a little less than your competitors.
4/ Review your current brand objectively
Step back and have a good look at your business from the outside. Try and see it all as if for the first time, and ask yourself: if I were learning of this business for the first time, would I pay their prices based on what I'm seeing here? And if not, why not? Very frequently, we find that businesses outgrow their brand identities - particularly once they hit year three or four. Services evolve, prices increase to reflect experience and expertise - yet the brand identity remains the same. A naive identity will never command premium fees. If you're serious about hitting the next level in your business, identify what needs changing and do something about it.
5/ Know that your brand has huge potential to impact your bottom line
I hate, hate hate seeing brilliant business owners struggle simply because their brand doesn't have the confidence about it to command what they're worth. An investment in your brand identity can pay dividends in making it significantly easier to win the right sort of business and charge the rates that truly reflect the value of the incredible work you do.