The problem with raising price is that the truth comes out. And when the truth has nowhere to hide, our personal feelings can take a bruising.
Sometimes that truth is brutal and frustrating; other times, it is motivating and invigorating. But make no mistake – the truth will reveal itself, whether you like it or not.
Whenever I take the plunge and raise my base wedding reception fees by $300 or $500, the brutal and honest truth comes out about what people think of my services. When someone refuses to pay my price, it creates an honesty and transparency that is often left disguised, hidden behind the veil of when I previously asked for fewer dollars.
Very few things prove the statement “I really, seriously, value what you do,” like someone willing to pay a lot for my entertainment services.
If you truly want to discover if people are telling the truth about how great they think you are, raise your price, ask them to pay it, and carefully monitor their responses.
The public’s reaction to your increased price will ultimately provide the truth about their praise for you.
Are they telling you the truth…or just trying to make you feel good?
We all place a very high value on a select group of things. Often times, we are willing to pay whatever needed for those things.
How highly do wedding couples value you? Are they willing to pay anything for you?
This is exactly how I buy things. This is how you buy things. This is also how our clients buy things.
Asking for a lot more money than the average is the only honest way to find out how much people actually like you.
Do they really think you are Toronto’s #1 DJ? (That’s what you wrote on your website.)
Do they really think you are Winnipeg’s most popular? (You said it on Facebook.)
Are you ready to find out if, what people really think about you, matches the words you have written on your website and social media channels?
Are you ready for the truth?
Can you handle the truth?
You are not alone. Many DJs are scared to know the truth.
Most DJs (I said most, not all) sit in a comfortable price range, remaining “competitive” in the marketplace, so that they can live within the illusion that people think they are the greatest thing in entertainment since Bill Murray starred in Groundhog Day or Adam Sandler performed in The Wedding Singer.
Nothing says, “I think you are the GREATEST!” like someone willing to cut corners on other parts of their day so that they can have you, at your higher then average performance fee. That is the truth.
On the other hand, nothing says, “I was just kidding, you’re about the same as everyone else” when they won’t even pay you a few hundred dollars more than the average. That, too, is the truth.
This is the internal conversation we all struggle with, but seldom want to talk about, much less, admit at all. This is the problem that each of us has with raising price.
No one avoids it. Not me. Not you.
Truth…the unhidden, unfiltered, unshackled, honest and transparent…truth.
Are you ready to know the truth?
Ask your potential clients to put their money where their mouth is.
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2 thoughts on “The Problem With Raising Price”
Great concept and post Dave! Too many performers can’t handle the truth. Sometimes a below average price is actually running from the truth. Low prices avoid the truth that you are responsible for the feel, tone and outcome of each event no matter what your fee is.