One of the biggest questions I hear from entrepreneurs is when it comes to creating packages, products and services that sell AND make them a profit.
It can be tricky to figure out, but the more you put out what you have to offer and get experience, the easier it will become.
I also have a few tips I can share with you that will help you determine how to price what you offer so that you make money and also ensure that it sells.
CREATING THE OFFERINGS
1. Figure out what you want to offer
Let’s start by figuring out what you want to offer. Are you selling products? Services? Let’s take it a bit deeper. What kind of products and services do you want to offer? Make a list of the things you can and want to offer.
2. Figure out how you want to deliver it
The next part of creating your offering revolves around delivery. How will you deliver what you offer? Will it be via phone calls? Email? Download? In person meetings? This should be based on something that is sustainable for you. For example, if being on the phone drains you, then don’t create an offering that will require you to be on the phone all the time.
3. Create the offer
What exactly this looks like will depend on what you are offering and will also take step 1 and 2 into consideration. If you offer services, I want to encourage you to create 3 different packages at 3 different price points. Start with a lower cost offering with the minimum amount of work you can deliver, create a medium package with a medium price point and then create the higher end package with a higher price point and the most you can offer.
MAKING A PROFIT
When you start creating your offering, you’ll want to make sure you price it according to your services. Make sure you will be able to cover costs + add in your hourly rate. It might be tricky to know exactly the amount of hours it will take you for a project if you haven’t done it before, so I want to encourage you to guess and make this guess the most amount of hours you think it could take you, then add maybe 2-3 hours to it. This will ensure that you not only have enough time to complete the projects while getting paid but it will allow room for the additional hours you may not be accounting for. Also, keep in mind that it’s OKAY to change and adjust your pricing as you do figure out how long projects will take. You can also always modify your services and offerings as you discover what you thrive in and what you want to focus on offering.
SELLING YOUR OFFERINGS
Lastly, I want to talk to you about selling your offerings. How do you sell what you have to offer? Once you’ve created your different price points for your offerings, list them on your website. But when you list your services, create a product description/landing page that covers a few different things:
-What it is: Keep in mind that people who have never heard of you or your business could be visiting your site. Treat them as such. Tell them anything and everything they need to know about what you have to offer.
-How it will benefit/help them: People care more about this than the features themselves. The features are important (and we will list them) but people will make this a priority over the features. Tell people what it will resolve for them and how it will change/improve their life.
-Share the features: Tell people what about the service/product itself and what exactly it includes
-Reiterate the value: Make sure you communicate the value of the service/product or offering. Reiterate them, especially before you list the price. You want to remind them of how great this item is and why they need/want it.
-List your prices: Lastly, if you don’t already do this I want to encourage you to list your prices on your website. Give people the ability to see what things will cost them. Don’t force them to contact you in order to find out. It will help drive away leads who are not adequate and help you save time.
Creating offerings that sell is an important part of building a profitable and sustainable business. If your offerings aren’t selling, don’t get discouraged. Try tweaking what you offer, what you say about it and implementing the tips above to improve until you sell. Sometimes it’s just a matter of trial and error.
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