Everything is a test. Even though our goal is to create systems and structures for marketing your business such that it can run without you, creating proven revenue… even the ‘proven’ stuff is a test. Because the market can change, social trends move the way people think, and systems can become obsolete. So I love to view each marketing action as a test. It keeps us from getting attached to an outcome, and it also requires us to continue to THINK and CONNECT with what’s Truth in the market.
That said, there is a way NOT to test.
I had an email exchange with someone from my newsletter tribe last week… she was promoting something and I was so happy to see that, yet the investment was VERY, VERY low.
Because I can’t help myself sometimes, I shot her a message and celebrated the offering, and also mentioned the low pricing.
She replied and let me know she was not surprised that I would say that, and that it was just a ‘cheap beta test’ of a new offering in order to get ‘feedback.’
She knew that the people would not be her ideal clients, but she wanted to test it.
Why Cheap Beta Testing Doesn’t Work
Again, I LOVE that she is doing this. Yet here is the issue.
When you test your program and get feedback from people who are not your STAR Clients, and you use that feedback to develop your offering, you have now just developed an offering to suit the people that you don’t really want to work with, and will likely never pay you at the higher level. You are, effectively, settling.
Don’t do it!
OK, that’s easy to say, but then how do we find out if our program works?
What To Do Instead
You market, and sell it, the first time, at the correct price point. You put the right people into the program (it’s OK if it is SMALL the first time) and get real time data from them, not via their ‘feedback’ but via their RESULTS.
I spent years as a market researcher in my first life, and I can tell you there is a distinct difference between what people SAY THEY WANT TO DO OR HAVE, and what they ACTUALLY DO OR HAVE.
Real data and real results is key.
If your program doesn’t sell, get over it, and then get to the bottom of your result… what was out of alignment that it didn’t sell at that price point? What skill do you still need to develop, or what do you still need to learn about your market? Resist the urge to beat yourself up, and simply observe with great commitment.
4 Reasons You Won’t Do It
There are 4 reasons people don’t market what they actually want to sell at the price they want to sell it at.
- They want to feel like they are moving forward, and they are OK with not making money.
At the end of the day this person likes the IDEA of their business more than having an ACTUAL business. They love the process of creating content and developing ideas, and since they have survived this long without monetizing them, this has really become a habit they can live with at some level.
- They are afraid to sell it at the higher price point because they are simply afraid to ask for money (and they think if its low enough they won’t have to ask).
It can feel easier to ask for less money. And lower price-point items ARE easier to sell through an email or a sales page, where as higher investment items generally require a conversation. However, if something is underpriced, you will give off a double-binding message in your marketing, and people will feel that something is ‘off’ and they won’t buy it anyway. THEN you’ll get really discouraged because they wouldn’t even buy it for that price, how will you ever make money!!!? But the Truth is you just sold out on yourself.
- They are afraid to sell it at the higher price point because they are worried about what people will think of them (their mother’s “who do you think you are?” playing in the background of their mind).
Oh how common this is! Many entrepreneurs are actually ashamed to own their real value because they are worried what people will think about them when they do. Who do you think you are to charge that? You must think you’re something special! How greedy! Here’s the thing – people will judge you no matter how you run your business, so you might as well focus on what YOU want. (And we need to HEAL & INTEGRATE the part of you that still listen’s to your mother’s voice in your head).
- They aren’t 100% clear and confident in their own value.
Often people are so concerned about getting it right, they haven’t given themselves the time and space to put their value into context. They’ve simply compared themselves to 4 other people in their industry and set their pricing based on how they view themselves relative to the others. This is the worst idea! You want to follow DESIRE-BASED PRICING (I teach this in my retreats), and you want put your value into context for yourself.
I remember when I went from an hourly rate to a packaged price and significantly raised my rates. I suddenly realized that I was not just providing hourly coaching, but that I actually knew how to save people 10 YEARS IN THE SELF-HELP AISLE reading different stuff through the same lens. It changed everything for me.
But once I got the new CONTEXT for my value, I still had to OFFER it to the world, and be 100% OK with rejection. Not everybody wants what you offer. Period. They won’t want it whether it’s expensive or cheap. But for the people who do, you do them a disservice by charging too little for them to take you seriously. And they miss out on the genius you provide.
If this article resonates for you and you want to dive deeper for yourself into what keeps YOU from selling what you want, how you want, join me at the next Inner Alignment Intensive, because 2 ½ days just might change your life! https://retreatandgrowrich.com/inner-alignment/