Aligning Your Values With Your Pricing
I’ve talked about how value is subjective and how value-based pricing needs to be audience-centric.
This time, I want to talk about values. With an s.
Because values-aligned pricing is super important when you’re a conscious and caring business owner.
Doing The Values Work
Let’s back up.
First, you need to establish your values. Figure out what’s important to you as a founder, the brand you represent, and the audience you serve.
Next, you need to define your values. Because claiming “creativity” or “dependability” or any other value could mean anything—and nothing at the same time. Instead, get super clear on what each value means to your brand specifically.
Finally, you need to apply your values. Take that definition and put it into real, live context so that your brand reflects everything you care so deeply about. Your marketing is the most obvious place to start. (Think: your copy, social content, sales pages, etc.) But your operations (which includes your pricing!) is a potentially surprising, but highly impactful place to look next.
Values-Aligned Pricing
One of the biggest struggles online service providers have is pricing. (I *know* it’s not just me because I’ve had candid conversations with other entrepreneurs and guided clients through this on consulting calls.)
So using your values as an anchor, a lens, or a jumping off point can be super helpful.
For example, if you value providing a luxury experience, you might want to position yourself at a high-ticket price point. If you underprice, you might repel your ideal audience who’s used to paying top-price, won’t be fully committed to the process at a lower price point, or won’t trust the value you claim to offer if it’s too cheap.
On the other hand, if you value accessibility, you might need to come up with a pricing system or offer that doesn’t exclude the majority of people from participating. It could be a scholarship, a pay-it-forward opportunity with existing clients, a pay-what-you-want option, a group offer, a productized or templated service, etc.
Combining Value With Values
If you combine the concept of giving your ideal customer the exact transformation they’re after (aka providing immense value) with showing up in alignment with your shared values, then suddenly pricing gets a lot less mysterious.
I have a super robust workbook that guides you through establishing, defining, and—most importantly—applying your brand values. Or if you’re a fan of done-with-you options that offer empathetic accountability, I have a half-day intensive dedicated to this process of living out your brand values.
Because when you make values-based decisions in your business EVERYTHING—from your pricing and partnerships to your copy and graphics—gets a lot easier. And you can communicate more clearly. And show up more confidently.
And suddenly business feels and does good. Just the way it’s supposed to.
Bonus Resources!
Social Impact Coach Kat Luckock has TONS of resources around values-based pricing, including this IG Live we did together and this podcast episode she shared about her personal pricing journey. She also has this self-paced mini-course,* which isn’t pricing-specific, but covers everything you need to develop and share your story as a social entrepreneur in order to attract and connect with your ideal customers. (Bonus: you can bundle it with my Power To The Persona Guided Template at checkout!)
This is an excerpt from Toward Purpose & Progress, my newsletter where I share business tips, good news, shoutouts to Founder Friends, and other juicy snippets. Subscribe here for more rants, reflections, and resources.