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What story are your prices telling?

Earlier this month I hosted a conversation about communicating value for holistic healthcare providers here in Portland, and then shared a few of the insights via my newsletter. I got a lot of thoughtful, sharp, and genuine responses Рwhich inspired me to share them with you here, too. Voilå!

So often we only think about promotion when we think about marketing – but really, marketing goes deeper and wider than that. Pricing is a part of the whole, too.

Your prices tell a story.

Here’s an example of the different stories different price tags tell to prospective clients:

Working class acupuncture clinics offer sliding scale prices starting around $20 for a treatment.

An initial acupuncture treatment at a wellness center in Portland’s Pearl district will run me about $110.

How do you think people will envision the experience at these two places differently, just based on the price? What expectations does each price set?

And even more interesting: why would someone choose one or the other?

I think the answer is this: different values.

Some people value community, a focus on the essential, and the philosophy of working class acupuncture. They wouldn’t pay $110 for an acupuncture treatment, even when they can afford it quite easily.

Others value privacy, individual attention from their practitioner, and a beautifully designed healing environment. They will happily pay the higher price, even though they clearly have an opportunity to save money.

As with most elements of marketing, there is no one formula that will spit out the right price for your work.

A lot of things go into the equation: Your own values. Your clients’ and patients’ values. The real and full value your clients receive from your work. How you want to position yourself and your practice. What clients you want to serve. And much more.

What matters is that your prices suit you, that they tell the right story, and that the way you communicate your prices supports that story.

What story are your prices telling right now?

If you’d like my eyes on your prices, just send me a quick note – or let’s look at them together at the next marketing support session. I will be hosting one in Portland, Oregon, on Saturday, October 11 (link to tickets below), and then another one online a bit later. If you want me to let you know when the date for the online support session has been set, just leave a comment or drop me a line and I’ll be in touch.

Eventbrite - Marketing Support for Holistic Healthcare Providers // Fall Session

Photo Credit: Vanessa Pike-Russell via Compfight cc

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