How to Increase Your Prices

I paid out of pocket to see a counselor through BetterHelp.com rather than use my insurance. Referral systems are overbooked with a long waitlist and I wanted a therapist stat. So I spent $400 for a month of weekly sessions and got matched with a woman of color counselor and got an appointment within 48 hours.

Growing up poor, I'm super budget-conscious. But there are a host of things I will pay extra for.

If you are trying to figure out premium pricing, try to fall into one of these buckets.

Premium Price Tiers

Speed - There are many critical services people will pay more for if you can deliver quickly. When my sewage backed up into my bathtub, you bet I paid more for the plumber who could come immediately.

Best Product/Service - If the thing you offer is the best, people will pay more for it. When you charge more, people think it's better. Our online course business exploded when we went from charging $50 a class to $500.

Mission Alignment - People are willing to pay more if they believe in your mission. I pay extra to support people of color-owned businesses.

Convenience - If your product or service saves someone time and energy, they will be willing to pay more. When starting a family, my husband and I decided convenience was a family value we wanted to honor to have more time for our family. We budget in some areas to spend more on things that save us time, like ordering healthy meal kits.

Uniqueness - If you are the only one offering what you have and people want it, you can definitely charge extra. A Latina creator, just made a Mexican chamoy sauce for diabetics without sugar, and me and the whole Latinx community went crazy for it.

If you are struggling to charge more for your products/services, think about how you can fit in one (or many) of these tiers and trust that you will find customers who will pay more.