I know, you hear this all the time….. “I love your work but you’re too expensive.”
Sometimes you’re even asked to discount your carefully created packages and collections and you ask yourself “What is the point?”
The first few times you hear this, it stirs all sorts of crazy emotions in your mind. You start asking yourself whether you are actually too expensive? You start asking yourself why on earth you ever thought someone would pay you that much?
I hear this too… EVERY. SINGLE. DAY.
I used to completely freak out. Just those words on an email would stop me in my tracks and manifest themselves throughout my body and mind. I would start to question EVERYTHING:
My financial situation
I used to let those three words (you’re too expensive) paralyse me.
These days I treat this message in a whole new way and I’d like to share this with you.
1) First off I want to start by saying that the phrase ‘YOU’RE TOO EXPENSIVE’ is not an objection of YOU. Whether a potential client can’t see the value of your service or they simply can’t afford the price you charge, this is about THEM. This is not a reflection of you, your work or the price you charge.
2) Of course it is entirely possible to price too high! It’s important that you feel aligned to your prices and can confidently talk about them to other people. Your pricing has to MAKE SENSE. I often see people offering packages and collections that just don’t add up – people are smart when it comes to wedding budgeting so don’t underestimate anyone.
3) Your price MUST be in line with the expectations of your target market. If you’re wildly more (or less!) expensive this will ring alarm bells and could prevent a booking. At the same time, it’s incredibly important that you are clearly demonstrating the value you offer your clients. This is where your niche will come in. Show people why you charge what you charge.
4) Finally I want to say that it’s OK to be too expensive. Your pricing will naturally eliminate certain clients. Not always, but often, a budget can be an indicator of whether there is a match between you and your client. You will NEVER and SHOULD NEVER be right for everyone.
There is most definitely an art to pricing, especially for the wedding industry. If you feel you need help with this and are looking for a way to feel more confident about what you charge please book a time to talk this over using the link below.