While mulling over ideas of how I will meet my business goals this year the matter of pricing popped up. Despite the evidence, this is a sticky topic for me still. Let me explain. I know my work is good, my products are wonderful and my customers are loyal. As a matter of fact, when reviewing my sales for the year, I noticed almost no one (approximately 3%) actually used discount codes I have shared. So obviously I’m not doing too bad right? Well when I sit down and actually put my mind of pricing new items and service, I get nervous. My insecurities rise up and I start to second guess myself.
I had to ask myself, “Why am I still feeling this way? Why is this still an issue?” It can’t be the outward contributors I’ve relied on as good excuse, like “My prices must be too high.” Well I know that customers will purchase good products at any price. If they want it they’ll pay a Mint. It’s not “My products aren't good enough.” My customers have displayed time and time again that they’d purchase my products regardless of a sale. It can’t be my customer service. My customer service would have read me like a dirty novel if I treated them poorly. The reason for my insecurity is strictly internal and completely up to me to fix. It's time to permanently end this discount mentality.
I was in need of soap and really wanted Candle Moments. I had a supply in my lab prepared to sell. Normally I would bounce my little happy self-down to my lab and snag what I needed, adjust my inventory and go about my way. However, I realized this was a bad habit that needed to be stopped. Not only was it not helping my bottom line, but I was feeding a discount mentality. How can I fully expect anyone to pay full price on any product or service of mine, when I wasn’t willing to do that same for myself?
I’m one of those people who believe if I can do it, anyone can. If you can’t, it’s because you didn’t want too. I handle it with non judgement and compassion, but the fact remains, a person can do anything they want to do. So if I can and want too (without hesitation) pay full price for my products and services than others would be willing and running to do the same. Expecting others to regularly invest in my business, message, products, and vision without me giving that same amount or more is unreasonable. I’ll always harbor a tiny bit of doubt in the corner of my mind about others willingness and ability to do so, if I didn’t do it myself.
Expecting others to regularly invest in my business, message, products, and vision without me giving that same amount or more is unreasonable.
To condition my mind and my business I must be willing to do what I expect of my customers. I pay a good bit most of my little luxuries. I ask almost no questions at all if it’s a product or service that I love. I have forgone many a promotion to have my favorite lipstick, hair products, weight loss product and whatever else I “have to have”. Doing the same for Butter Angels is only different because it is mine. Because of that I sat down and ordered 2 bars of soap at full price with sales tax. I fulfilled my order like I was a regular customer (sans the bag and shipping) and skipped into the bathroom to take a shower with my favorite soap.
That marked the first day of my paradigm change and a healthier business.
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