How to discover your business superpower to price with confidence

Unlock the value of your unique difference to confidently set non-negotiable prices

As a small business owner or managing director, understanding and embracing your unique superpower – the difference that sets you apart from the competition. Crucial for confidently justifying the non-negotiable prices you charge for your products and services.

Furthermore, you can capture the true value of what you provide to stand strong on your prices, and the investment your customers and clients make with your business.

As a starting point, this article explores the importance of recognising your superpower and making it work strategically within your offerings by applying the magic number 3 when it comes to proposition, packages, and pricing.

Understanding your superpower

Every business has a superpower, a unique selling proposition (USP) that sets it apart from others in the market. There are probably lots of businesses doing the same as your business. There are probably lots of businesses doing the same as your business. They won’t be doing it your way. They’ll have different strengths and skills in comparison.

No one will ever be YOU

For example, pinning down the superpowers of the business founder and the specific attributes that set your business apart is what makes your business special. And every business is special; each and every one is unique.

That superpower isn’t always easily recognised by the managing director within a small business, they’re too close to the business you see. When you work with the right person, they will easily identify the owner’s and the business’s superpowers. As a result, it’s then the marketing team’s job to bring this to life.

Your superpowers could be anything from the way you’ve always done something, exceptional customer service, innovative products or services, added value, superior quality, or niche expertise. Identifying and leveraging this superpower is the key to confidently setting prices that reflect the true and real value you provide.

It’s important you know your worth.

Why your difference matters

Without a doubt, your difference matters because it is the reason customers choose you and your business over others. It creates connection and resonates with your target audience in a way that they don’t question the price. They’re crystal clear on the value, the outcomes, benefits and experience that you provide.

With that in mind, By clearly communicating your superpower, you can justify higher prices, and attract customers who appreciate and value what you offer.

Embracing your superpower

To fully embrace your superpower, you need to:

• Clearly identify what makes your business unique

• Understand the value it provides to your customers

• Communicate this value effectively through your marketing and sales efforts

• Back it up with independent evidence – reviews, testimonials, case studies

The price is the price

Justify non-negotiable prices to yourself first

This is one of the biggest and first steps you must take. Setting a non-negotiable price for your products or services can feel very uncomfortable. I regularly got told I wasn’t charging enough for the value I provided in the first couple of years of business. Researching and testing price points really helped. Own this, and convince yourself first.

I used to practise saying my prices in the mirror without flinching, it wasn’t easy. You have to be totally behind this. Confident and comfortable at all times.

Your non-negotiable prices reflect your value; they are essential for maintaining the integrity of you and your business, and ensuring profitability. The aim is to have a profitable business that customers and clients value.

Start with you

Here’s how you can price with confidence…

Value-Based Pricing
Value-based pricing involves setting prices based on the perceived value of your product or service to the customer, rather than on the cost of production. This approach allows you to charge higher prices for offerings that deliver greater value, and it emphasises the importance of your superpower in creating that value. To implement value-based pricing:

Research what your target audience most values
Analyse what competitors offer, their strengths, value and pricing to understand where there are gaps in the market, where you can position your business in a way that differentiates from the rest.

Communicate the unique benefits and value of your product or service until you bore yourself silly – this means you are getting it right. No one will ever hear it as much as you. Everyone else needs to see and hear what you offer a number of times for this to stick firmly in their minds

Some great examples of unique business messages:

Patagonia – “We’re in business to save our home planet.”
Ecolab – “Making the world cleaner, safer, and healthier.”
Chocolate and Love – “Award-winning organic chocolate with love.”
Rolls-Royce – “Like nothing else on Earth.”
Social Stories Club – “Gifts that change lives.”
Tesla – I won’t even go there can’t stand Elon Musk, plus hydrogen cars are already making headway.

Packaging your offerings

Let’s explore packaging your products or services at 3 different price levels – high, medium, and low – you can cater to a wider range of customers while still maintaining your non-negotiable price for premium offerings. See, it’s that magic number 3 again to keep things simple and doable.

3-level offer

Here’s how:

High Price Level
Create a premium package that includes exclusive features, benefits, or services that justify a higher price point. This package should highlight your superpower and offer maximum value to customers willing to pay a premium.

Medium Price Level
Develop a mid-tier package that provides a balance between affordability and value. Here you should still emphasise your superpower, yet with fewer exclusive features than the high-price level.

Low Price Level
Offer a basic package that delivers the core value of your product or service at a more accessible price point. This package will attract price-sensitive customers while still showcasing your superpower.

Communicating your pricing

If you don’t let people know what your prices are how the heck are they going to know?

In addition, clearly communicating what you offer, together with the value provided, needs to be said and done consistently both on and offline, in everything your business does. This is key to justifying your non-negotiable prices. If customers want high level, they pay for it; otherwise, they can choose from medium or low level offers.

Boundaries you see! You get clear on what your boundaries are, in turn, prospects and customers do. This is key to justifying your non-negotiable prices.

Here’s are three suggestions for getting across the value your business provides:

• Highlight testimonials and reviews from satisfied customers and clients that have experienced the benefits of your superpower

• Provide case studies that demonstrate the tangible results your products or services have delivered

• Use clear and compelling messaging in all of your marketing, emphasising the unique value provided

Roundup

As the Managing Director of a small business, you now have permission to get confident in knowing and embracing your superpower; it’s essential for justifying the non-negotiable price you charge for your products and services.

By understanding the importance of your difference, implementing value-based pricing, packaging your offerings at three price levels, and effectively communicating your value, your customers and clients will recognise and appreciate the true worth of what you provide.

Remember, your superpower is your greatest asset – use it to unlock your business’s full potential for success.

Ready to discover and leverage your superpower for confident pricing?

Join our upcoming webinar, The Price is the Price, where we’ll dive deeper into strategies for setting and justifying your prices. 

Sign up today and take the first step towards getting confident and comfortable with the value your business provides. Know your true worth.

Anna Short, Managing Director and marketing strategist at Boo! Marketing, has successfully collaborated with numerous small business owners in professional services, engineering, technology, and marketing. She assists them in aligning their marketing strategies with what makes them and their business unique to create stronger connection to the right types of customers and clients.

Are you a small business owner that’s marketing to everyone and no one?
Get in touch or email Anna at: anna@boo-marketing.co.uk

Marketing is central to attracting and keeping the right types of customers and clients. It’s far more than marketing too, it’s about the business, how it develops and manages its relationships. With a focused marketing strategy you will always get and keep the right types of customers and clients.

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