5 Tips On Your Offer And Your Pricing

In the Report (get your copy here), I share how crucial it is to compete in your market, no matter your business size, and that simply asking people to "support local" isn't enough as a pricing strategy.

I understand this can sound unsettling, which is why I have put together this deeper dive—5 actionable tips to help you set or negotiate pricing and refine your overall offer!

Tip 1: Talk About what “Supporting Local” Will Give Your Customers—Don’t Just Expect Sales Based on the Sentiment
When you ask people to “support local,” focus on expressing the unique value that brings, like scarcity and care. There is a difference between gifting a mass-produced mug from The Warehouse vs. a handmade, one-of-a-kind mug. Be sure to call out what that difference is. Both might function the same, but the handmade option carries meaning, warmth, and a uniqueness that a big store-bought item can’t - and you know a gift receiver can feel it. Do you emphasise these unique selling points in your pricing and marketing?

Tip 2: Add Free Value with a Long-Term Payoff
Offer extra value that is useful for you in building loyalty and awareness. For instance, if you’re a jeweller, you could offer a free fitting service. You’ll still charge for adjustments if needed, but that little extra time doing the fitting builds loyalty and lasting relationships. Only luxury boutique brands offer this level of service—why not you?

Tip 3: Highlight the Longevity of Your Products
Durability and sustainability are more than just buzzwords; they’re powerful value propositions. Think about guarantees, lifetime repair warranties, or even a return-and-recycle program. These strategies (when done genuinely) boost perceived value and align you with high-end brands. Plus, it emphasises how great you are for the planet! Infinity wins! 

Tip 4: Understand the Power of "Anchoring"
If you haven’t heard this concept before, do a quick Google first to get the gist. 
Right, my advice? Know that anchoring isn’t about discounting—it’s about setting a perceived value for your product. It’s a psychological tool that helps you establish what something is worth in your customers’ minds. When you give them an initial higher price, it serves as the "anchor." That number becomes their reference point when assessing the value of your product. For example, if I tell you that a beautiful handmade mug is normally $50 but offer it to you for $35, you’ll feel like you’re getting a great deal. Why? Because your mind has already anchored to the $50 price point.
Now, if I had only ever priced that same mug at $35, it wouldn’t feel as special—it would just be another $35 mug. The $50 anchor creates a sense of value and makes the $35 price tag feel like a win - it also means you get $15 more for every non-discounted mug you sell! 
Also - recognise that if the mug is priced at $50 vs $35, what perception do you have of its quality and value? That’s right - the cheaper one must be cheaper for a reason, right? That’s what your Customers' brains will tell them. When your customers compare you to others, they’ll be using that anchored price as a benchmark. So, aim to anchor your prices in a way that aligns you more with boutique, high-quality brands rather than mass-produced alternatives. It’s a powerful strategy to elevate how your products are perceived.

Tip 5: Compete—But Ensure You Cover Your Costs
Your business needs to be sustainable. Pricing too low to “compete” risks undervaluing your hard work and could jeopardise your ability to continue. Believe in the worth of what you offer, communicate it effectively, and don’t price yourself out of profitability. Your products are unique and awesome—don’t let them get lost in the noise.

Lost on any of the above? Flick me an email, I'm happy to help.

Alex