Stop Creating One-Off Services! A Strategic Approach to Selling Premium Offerings
As women entrepreneurs, we often fall into the trap of continuously adding new products and services simply because we can. This chaotic approach leads to a selection of unrelated offerings that can confuse our audience and restrict our business’s growth. I’m here to tell you - there is an easier way!
Are you asking yourself, “How do I price my services and products effectively?” Follow a structured strategy that will help you create cohesive product lines and boost your premium service sales. Say goodbye to 1-off services and hello to a system designed to drive interest toward your highest-value items.
The 5-Tier Pricing Strategy:
Free (Top Tier)
Easily created content to build brand awareness
Requires the least time and effort
Exchange
Also known as lead magnets
Free valuable content in exchange for contact information
Affordable
Lower-priced options to attract cautious clients
Showcase your expertise without a significant commitment
Sustainable
Slightly discounted from the premium offerings
Provide consistent income; an option that allows customers to pay with installment plans rather than full cost
Premium (Bottom Tier)
Your most valuable and high-priced offerings
The products/services you're most motivated to sell
Most women business owners start at the top with free offerings. They crank out tons of social media content for new product launches, but no one is biting. Why? This is because they haven’t built the foundation for the other tiers; it is essential to have each element present within your company’s pricing strategy to maintain relevancy within your target market. The best part is this gives you a road map from start to finish on how to price your services and products. Here’s a tip: begin with the bottom of the triangle, Premium Offerings.
How to Sell Your High Ticket Services: The Premium Tier
Let's use a company like Women Entrepreneurs Inc. as an example to show this 5-tier strategy in action. A Charleston marketing agency offers a 5-page website for just under $5,000. This is a hard sell to women business owners who don't already know, trust, and love the brand. How do we get these clients to invest in high-value work?
The 5-tier pricing system is built to drive clients through different levels of offerings, from free resources to premium services like website design. It creates a feedback loop that constantly pushes customers to consider purchasing the next tier of products and services. As a premium offering, this category represents the service or product you are most motivated to sell. Identify your business’s highest-value service, and let this be the option that all other tiers are working towards.
Use the Sustainable Tier to Capture Clients Who Need Financing Options
The Sustainable Tier gives customers who want the premium service but may be more receptive to options with flexible rates. Our marketing agency example can offer a 6-week website design course for 3 installments of $1,600. This gives customers access to sessions to get direct feedback from industry professionals and teaches them how to create a business website. The agency can generate a steady stream of income from the same amount of work input, and customers pay over the course of many months as they develop a new skill.
The Affordable Option: An Easier Sell to New Customers
The Affordable Tier services get your foot in the door with new clients. They are streamlined deliverables that can be finished in a few hours or less. These products and services typically cost less, making them easier to sell for new businesses who are not ready to commit to a higher financial investment or 6-week course. This is an introductory rate that provides the audience with a taste of your services, so you get the opportunity to introduce them to your brand.
For our Charleston Marketing Business example, the affordable service would be a Website Audit for $750. This reduced cost makes it easy for women business owners to invest in your offerings without making a locked-in choice. When push comes to shove, sometimes we have to offer lower-cost services to secure a first-time buyer. Do not give away your blood, sweat, and tears for free! Channel the energy into this tier, where you still make a profit from tasks that do not overwhelm your schedule.
Exchange & Free Tiers: Use These CAREFULLY
The final two categories of this triangle include the Exchange and Free Tier. Use these strategically - and make sure you don’t spend all your time or marketing budget here. They are crucial, but not the offerings that bring any direct profit. An Exchange would look like a free resource for creating a business website sent over email. Provide an expert guide to those who sign up for the newsletter, granting your business the ability to market other related services directly to them. Here is an example from our site! A Free Tier example would include sharing free tips and tricks about website design on social media.
How Lululemon Uses this Pricing Strategy
Let's examine how the successful product-based company Lululemon uses this strategy with their Align Collection:
Premium: Align Jumpsuit ($150)
Sustainable: Installment payment plans for the jumpsuit
Affordable: Align Tank Top ($48)
Exchange: Monthly membership program with exclusive offers
Free: Instagram content showcasing products and lifestyle
Want Help from a Pro? Benefits of the #VISIBLE Method
✅ Put an END to social posts that don’t convert to sales
✅ Reduce complexity in your business
✅ Eliminate confusion in the marketplace about what you offer
✅ Allow you to sell MORE of your premium services with ease
By using this 5-tier system, you can create a seamless flow of products and services that naturally guide clients towards your premium offerings. Create a pricing strategy that continuously drives sales for you!
Need Help? WE Inc. offers personalized #VISIBLE plans and 1:1 coaching to help you maximize this strategy for your woman-owned business. Schedule a complimentary consultation with our team to see if this is the right step for your company.