Answer1:39
Find the Unique Currency Then Show 10x Return
First identify your prospect's unique currency - what they're really trying to accomplish. Then translate your product's benefits into their terms and connect it to dollar values. Show at least 10x return on investment using conservative estimates.
Answer
Two Questions Every Prospect Silently Asks About Price
Prospects unconsciously ask two key questions: 'How can I know that this is worth a lot more than I'm paying for it?' and 'Can you prove the result you're promising?' Your pricing presentation must answer both questions clearly.
Answer12:30
Conservative Estimates Build Trust While Proving ROI
No, use conservative estimates instead. Back off from your biggest promises to build credibility. Show value even in worst-case scenarios. This makes you more trustworthy while still demonstrating clear return on investment.
Answer1:39
Frame Digital Pricing Against Live Training Cost
Reference what you would charge for live training, then position your digital product as a bargain. For example, 'If this was live training, I'd charge $2,000, but because it's digital, I can offer it for much less.'
Answer9:28
Hourly Value Calculation — Use Aspirational Income Numbers
Take yearly income, divide in half, and remove three zeros. So $100,000 becomes $50/hour, $50,000 becomes $25/hour. Use aspirational income numbers that prospects want to achieve, not just current income.
Quotable
Frame Price Against Value to Justify What You Charge
What you want to do is you want to set up the value proposition and really frame the price so it's positioned as being much, much more valuable than the price that you're charging for the product.
Quotable0:31
Humans Bad at Putting Value on Things — Connect the Dots
We humans are really not very good at putting value on things. We're also bad at translating value kind of from one realm to another. We need someone to connect the dots for us.
Quotable2:54
10x Return Minimum Before Selling Anything to Anyone
I don't like to sell something unless I'm convinced that if a person buys it and uses it that they can get at least 10 times their investment back.
Question1:39
Unique Currency — What the Prospect Is Really Buying
How do I frame digital product pricing compared to live training?
Question2:54
Questions Prospects Ask Themselves About Your Price
How do I price my product to show clear value to prospects?
Question2:54
How to Calculate Hourly Value for Pricing Presentations
How do I calculate hourly value for pricing presentations?
Question
Digital Product Pricing Framed Against Live Training
What questions do prospects ask themselves about pricing?
Question2:54
Conservative Claims Beat Big Promises in Pricing
Should I use my biggest claims when presenting pricing?
Question2:19
How to Price Your Product to Show Clear Value
What is the unique currency concept in pricing?