Written by: Vickie Sullivan  |  June 23, 2016

Are You Really Ready to Raise Your Fees?

First it was microbreweries and boutique coffee roasters. Now milk has entered the low-volume, high-end marketplace according to this New York Times, “Milk Jumps Onto the Small-Batch Bandwagon.”

I love stories like this. They show that in a world filled with commodities, premium pricing is alive and well. Here’s the mistake people make, though: Many of us believe this move is mental construct. As in “I deserve to be paid more. Therefore, I will insist on it.”

Actually, you don’t. None of us deserves any particular price point. Premium pricing is a more strategic endeavor than that. It’s not about the quality of your work. It’s about finding where that quality will be the most valued. And then have the guts to brand yourself accordingly.

Related: A Strategy to Scale Up Your Thought Leadership

Check out what dairy owner Mr. Pyykkonen did to get his best price: he changed his customers. Instead of going to the low-cost, high-volume processors, he takes his high-quality milk to people who will pay for it: top restaurants and affluent families. Not only did he change his operations, but he also launched a different business model. And, yes, he had to still stand out.

Of course, the first sale is to yourself. And I agree that if you don’t believe you’re “worth it,” no one else will. You we can’t sell a Mercedes to folks who can only afford a Ford. You have to find your best buyers and position our work to them. Ask yourself: What are you willing to change in order to get the price you believe you deserve? The answer to that question will test your readiness for the big leagues.

Other Resources You May Like:

• Behavior Studies for Pricing Strategy
• Springboard Marketing: Leveraging Your Expertise Into an Empire