Why low rates can hurt lightworkers

money2Setting rates for services is often challenging for lightworkers. Some lightworkers feel guilty about charging at all for their holistic services. Others may want to make sure their rates are low enough that anyone can utilize them.

Still others may worry that if they charge too much, potential customers will go to other lightworkers who charge less. But while you may think that lower rates will automatically translate into more sales, that’s not always true. In fact, quite often, the opposite can occur.

Chris is a tarot reader who charged $25 for a half hour reading when he first launched his business. He chose $25 because he’d done some market research and found that other tarot readers in his area typically charged between $35 and $50 for a 30-minute reading. Chris believed that if he undercut his competition, he would get more business.

However, after a couple of years, Chris gained more confidence in his ability to meet his customers’ needs. He saw how valuable his work was to his clients and he knew that he would be better able to service his current and future customers if he wasn’t financially struggling. After much soul-searching, Chris decided to raise his rates to $35 per hour.

Chris was nervous about what this would do to his business. In fact, he thought he would lose customers. But not only did his current clients go along with the new fee, but he started getting new customers, and very quickly, Chris had more clients than he’d ever had before. Chris didn’t understand why this was happening until he had a conversation with one of his new customers after the reading. The customer was thanking Chris for the reading and Chris impulsively asked how the customer had found him. The customer said she had seen Chris’s ad in a local metaphysical magazine, along with the ads of several other tarot readers. She said she was torn between going to Chris and one other tarot reader. The reason she chose to see Chris was because the other tarot reader charged only $25 for 30 minutes so she assumed that the other reader didn’t have as much experience as Chris.

That conversation was an eye-opener for Chris, just as it should be to all lightworkers. Consumers often believe that the more a product or service costs, the better it is. If you charge too little for your services, there is a chance that potential customers will believe that you have little experience in your craft and may go elsewhere.

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