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Why the Pricing of Services is Far More “Flexible” Than the Pricing of Products

Stretching cat representing that the pricing of services is more flexible than that for products

You get this intuitively; you probably just haven’t focused on it before.

It’s pretty easy to comparison-shop like products. A shoe is largely just a shoe, yes? But it’s not so easy to comparison shop services, for the very reason that they are typically not, by nature, “like”. I can structure my “coaching package” very different from yours. I can:

-Include a multitude of different services in my package than you do (apples vs. oranges)
-Include “free” products with my package that you don’t
-Offer more personal access to me than you do
-Offer recordings of my consultation sessions that you don’t
-Offer different lengths of service periods than you do
Guarantee results differently than you do
-Go into much greater depth than you do
-Offer evidence than I’m smarter or more insightful than you are
-Prove that I’ve satisfied more clients than you have
-And so on

With all of those differences, it’s hard to make a direct price comparison.

That’s why, when people are shopping for services, they put more emphasis on the reputation of the provider, and the connection that they feel with that provider.

Bottom line: you might struggle to get $200 for your coaching package, whereas I might readily get $2500 for mine, just because I packaged my service’s “bundle of benefits” more to the prospect’s liking and believability.

Remember, value is whatever the prospect thinks it is.

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