Episode 352: Your Pricing Is Telling a Story

What We Cover In This Episode:  Why setting your price by working backwards from cost and sideways from competitors is producing the wrong number [6:31] The way your price creates a perception of exclusivity before a prospect ever sets foot in your studio [8:10] Why your pricing menu is actually a behavioral system, not a payment method [16:23] What a discount is actually saying about your original price [17:57] Why premium is not a price point, but rather a promise your operations have to keep every single day [23:51] How to audit your pricing against your mission, and what it means if the two are telling different stories [30:19] Quotes:  "I think if you have a lot of class packs, you're kind of selling a bundle of classes. When you sell a membership you are selling them a plan; you are selling them a routine." [Nick, 9:24] "The pricing model is a behavioral system not a payment method. Whatever it makes cheap or easy is what your members will do more of. Whatever makes it expensive or awkward is what they will do less of, regardless of what you tell them in onboarding." [Nick, 16:27] "Pull up your pricing sheet tonight. (36:40) Read it like you're a stranger. Write down the one sentence that the sheet says about your studio, and if that sentence isn't the studio that you're trying to build, You don't have a pricing problem. You have an identity problem that your pricing has been honest about for years." [Nick, 36:57]   LINKS:  Book a Call with the fitDEGREE Team Learn More About All of Our Partners (Including LoopSpark & LezVU) and Get Exclusive Offers Visit the fitDEGREE Knowledge Base Send Megan Your Playlist or Discuss the Podcast Here!  fitDEGREE's Business Portal [email protected] https://www.instagram.com/fitdegree/ ​​https://www.instagram.com/fitspot_guru/  https://www.fitdegree.com/blog  https://www.youtube.com/channel/UChJ5rK6zWPXjbxtUQx3ys9Q https://www.tiktok.com/@megan_fitdegree