Know Your Worth… But Also Know Your Market!

Alright, let me hit you with a little truth bomb today (there's going to be a lot truth bombs shared in this community). We’ve all heard this “know your worth” mantra getting thrown around like confetti, right? Folks out here got people walking around saying, “I’m charging high ticket because I deserve it!” And listen, I’m all for self-love, but just because you slap a higher price tag on your product or service doesn’t mean people are going to pay it. It’s like trying to sell water at champagne prices because you “know its worth.” Folks on the corner like, "Do you know what water does for the body? It's definitely worth this $1000 price tag!" You see where I’m going with this? It doesn’t quite make sense.

Let’s break it down: Knowing your worth is cool, but it’s even cooler to know what your market is willing to pay. Think of it like dating—you can believe you’re a 10, but if you’re out here acting and looking like a 4, people aren’t lining up to swipe right. It’s not just about claiming “I’m worth it,” it’s about making your audience say, “I need it.”

Here’s where branding comes into play. Your brand is like your first impression on a date. You have to look, sound, and act like the price you’re asking for. You can’t have a Bentley price tag with the appearance of a beat up Hyundai. When your brand is aligned with your value, people will pay. But if there’s a disconnect between what you’re offering and what your audience perceives you’re offering, that’s where the struggle ensues.

Let’s back this up with some numbers—so y'all know I’m not just talking out here. Studies show that businesses using data-driven pricing strategies can increase their profit margins by 3-8% ​[McKinsey & Company]. That means the companies actually doing the research on what people will pay, adjusting their pricing based on what the market wants, are walking away with more money in their pockets than those guessing their value like they’re playing the lottery.

And here’s another stat to chew on: Companies that understand their competition and brand positioning are 2-3 times more likely to succeed​ [UpFlip]. So before you hit people with your price, do you even know what your competition is charging? Are they out here charging $10 for something you’re trying to get $100 for? Because if that’s the case, you’ve got to really make sure your brand is coming through looking like a gold-plated ticket to the VIP lounge.

So, don’t just “know your worth” based on your personal belief and the hype squad around you. Be intentional—know your market, know your client, and know your brand’s positioning. Because when those three things align? That’s when you stop selling dreams and start selling solutions. And, trust me, when you’ve done your homework and have a brand of quality that backs up your price, people won’t hesitate to pull out their wallets.

Remember, it’s not about thinking you’re worth a million dollars—it’s about making your audience believe you are, too. So next time, before you set that price, ask yourself: Does my brand and my work support this? Am I speaking my clients’ language? Am I giving them something they actually want to pay for? And if the answer is “yes,” then congrats—you’re on your way to the bank.

But if you’re not sure? Well, let’s do some work, you down?