How to price your Black Friday offer without short changing yourself.

Black Friday advice, part 1

My dear Kindred Spirit,

One of the things my clients struggle with most is pricing. In general it can be challenging to land on the right number, but this is especially true when planning for a significant discount like those we see on Black Friday and Cyber Monday. 

So what to do?

When considering how to price any offer, think about the total income you'd like to get from your total sales. Let's say you want to earn $20k gross from the sale of a three month group program beginning in January that has 12 spots in it. It might seem obvious to offer the program for $1,667 in full or $555/month (plus admin fees). But how do you then take advantage of Black Friday without short-cutting your desired income? 

The key here is to think ahead. If you know your launch period is going to include Black Friday, set $1,667 as the Black Friday price. From November 29th to a date of your choosing, the discounted rate is $1,667. When the special deal ends, the price goes up. Significantly. Let's say to $1,999.Who wouldn't want to save $332? This increases the possibility of more sales during the Black Friday period, and allows you to go beyond your target amount.

Is this underhanded? No. Not really. You weren't charging enough to begin with! And please, if you decide to offer the program again in April, after getting all of those lovely testimonials, charge $1,999 or more. 

Seriously, one of the things that bugs me most is when women solopreneurs shortchange themselves in the interests of being nice, falling into the people-pleasing trap of thinking that if you're not being nice you're being ruthless.

There is a wide range of ways to be in business, and I prefer strategic and profitable. 

I hope this helps! Part 2 will show up in your inbox on Monday.

to our success,

Laura