Three crucial reasons why you should never lower yourrates

When you want to bring in some fast cash or if thingshave slowed down, you may feel tempted to attractclients by lowering your rates. This is an extremelycommon reaction and I understand why you mightthink it’s a quick fix. However, this is a strategy that willnot serve you in the long run.

I’m going to share three crucial reasons why loweringyour rates is a path you never want to take.

1. Lower Rates Devalue You. When you discount yourservices, you devalue yourself in the eyes of yourclients or prospects. They see you are willing tocompromise on what your services are worth. Inaddition, you devalue your worth in your own eyes,which negatively impacts your self-esteem.

2. Professionals Don’t Lower Rates. Look to the peopleyou consider professionals. Do they ever lower their rates? Most likely, they don’t participate inthis behavior. Professionals know the value of what they offer.

3. Don’t Underestimate the Value of Convenience. In fact, if you offer a service by phone or goto your client’s place of business, they don’t need to drive, get stuck in traffic or pay to park.This makes your service even more valuable because of the sheer convenience.

So, make me (and yourself) a promise right now. Put your name into the blank as you take thispledge. I, ________, promise, that I will NEVER ever lower my rates again.

You are setting your intention to never discount yourself again which is huge – stick with this.

Now, if you want to drum up some new business, think about ADDING VALUE. Whatadditional goods or services can you add to make your offer juicier and hard to resist? Bundlinggoods and services with your regular offering will attract new clients.

Here are a few enticing ideas to consider for adding value:

A bonus call to check in after clients implement your advice Your home study system Emailing in between sessions Your new book or audio Access to your group program for a private client

You want potential clients to think, “How can I pass up such a good deal? I’d be crazy to passthis up!” When you add value to your regular offering for a limited time, you can attract moreclients without devaluing yourself with lower rates.

It’s a good idea to offer added value for a limited time. Otherwise, people might feel they haveall the time in the world to take advantage of the deal. That won’t be as motivating. For thisreason, many business owners offer “Fast Action” bonuses when doing a launch, to motivateprospects to become clients NOW.

Your Assignment:If you’ve been lowering your rates or discounting, I hope you took the pledge while reading thispost. If you want to attract new clients, think about what they could really use right now thatwould be hard to pass up. You can always do a little research by asking a few treasured past orcurrent clients what might work for them.

Fabienne Fredrickson, The Client Attraction Mentor, is founder of the Client Attraction System,the proven step-by-step program that shows you exactly how to attract more clients, in recordtime...guaranteed. To get your F.R.E.E. Audio CD by mail and receive her weekly marketing &success mindset articles on attracting more high-paying clients and dramatically increasing yourincome, visit http://attractclients.com