Yes, You Are Worth It!

Business, Social Media

During this Holiday Season, it seemed to me that online shops were all but giving their product away. There were sales deals of buy 1 get one 1/2 off, Black Friday sales of up to 50% off, buy 2 get one free, and the list goes on. As Christmas week approached, some discounts were even greater. If 50% off didn’t work, maybe 70% off would entice buyers. The end of year sales frenzy is definitely a way to reduce inventory and recoup capital and add new product to their shops. So why do we feel the pressure to sell our products below cost during the holidays? It’s the same product sold in our shops throughout the year so why cheapen it’s value for a few weeks?

After the rush was over, I decided to revisit a few of my favorite shops. These are shops, among other reasons, that I respect for their sales approach. This includes advertising methods, pricing structure, and special discount events. One shop primarily sells pre-made items, that are ready to ship while the other shop sells a combination of pre-made and made-to-order items. These well established online shops offered some holiday discounts but they didn’t give away the farm, so to speak. They consistently offer quality products, great service, and customers are willing to pay the price. My business motto has always been “quality over quantity” and ideally should be reflected in product pricing.

Each handmade artisan knows what it takes to design, create, and produce a quality item. Production of a handmade item requires design time (which can be hours or days), the expense of shopping for fabric/yarn/art supplies, and perhaps making a proto-type. These happens before one takes into account marketing the finished product, time creating the product, and shipping costs. So what is your product truly worth to you? Maybe it’s time to reevaluate product value and re-price accordingly.

I recently saw a statement on Facebook or Pinterest and felt I needed to re-post it. I have to say, it hit me square in the forehead. It was a reaffirmation of our Lady Like business statement.

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I expected the usual 25-30 people on Facebook who saw the post. Surprise! As of writing this blog, 920 people have seen it and are re-posting it. I’ve never had that many see any of my posts. What great encouragement! And I hope this means that many of you are inspired and finding their worth and not making concessions. This statement can be your business motto but also can apply to your personal life:  Yes, You Are Worth It!

34 Responses

  1. I am not surprised that your quote resonated with so many. I think it is important that products hand made or produced in America not be pressured to compete with imports and are able to make a fair profit on their labor.

  2. Thanks for sharing this! Great article, I enjoyed reading this!

  3. Just had this conversation with my daughter (who designs jewelry with me)and our web developer. We would NOT slash our prices despite it going on around us. We offered our fans and customers some specials but where it devalued our product.

    Well written article about a difficult marketing issue around holiday sales.

    • ladydi says:

      Thanks Roslyn for sharing about your business. To us it signals that your product isn’t worth it’s price when you slash the prices. I love mother and daughter businesses! 🙂

  4. I’ve always thought price reductions during the holidays was a way of saying “thanks” to customers. As for my own business, I rarely give discounts. What I do is give BONUSES to add extra value for my loyal customers. It just makes more sense.

    • ladydi says:

      I agree Martha on saying thank you also. I did a three day 15% off to compete with the market. It didn’t produce many sales because most discounts on Etsy shops were 30% to 50% off. I can’t make any money with those discounts. I try to give my repeat customers a special gift in their next order as a surprise. Thanks for sharing.

  5. Kungphoo says:

    What a true statement.. People always want a deal, and when you give it to them, you discount yourself..

  6. Shari says:

    This was very helpful to read. My business partners and have wrestled with undervaluing our services and it’s kind of reassuring to know we’re not the only ones. Thank you!

    • ladydi says:

      Thanks Shari for your comment. I think we would be surprised how many businesses feel this way. It’s a tough decision to make to discount our worth.

  7. Nice post! I see too often that places do the deep discounts because they are looking at what their competition is doing and undercutting is an awful way to do business. I love the idea of looking inside and giving value to your work.

    • ladydi says:

      Thank you! I saw a lot of undercutting at one of craft fairs I participated in this Winter. When you try to keep up with competitor’s cuts, eventually you’re working for less. That’s discouraging for so many handmade businesses. You have to believe that what you do is worth the price.

  8. True words, it really amazed me how discounted some items became around the holidays. Good for you for sticking to your guns and not falling into the under pricing trap, it’s a downward spiral.

  9. Veronica says:

    Giving discounts too low will give people the impression that you or your products have any real value

  10. Darla says:

    I loved reading your post! My hope is that other creatives will see their value and stop under selling their hard work. I agree 100%, you are worth it! The important and sometimes challenging part is believing in your self. Great post:)

  11. Rita Barakat says:

    Love it – I dont know why creative types would do it, I would much rather have quality and we work hard to produce that! Kudos!

  12. Casey says:

    It’s funny I read this today, because I was JUST talking with a friend about this. She sells on Etsy and was severely cutting herself short, so I approached her about it. Now she’s thanking me, because she had been undervaluing herself and her work. I told her she’s not just a mom making pretty little hats; She is an artist, a craftswoman, and a businesswoman, and she needs to be paid for her skill.

    • ladydi says:

      Thanks Casey. We are in a similar business and I appreciate your comment. Undercutting just sends up a signal that you don’t feel your product is worth a higher price. Each artisan takes time and effort to create the best finished product. Good luck with your business and like your Etsy blog idea! 🙂

  13. Jenifer says:

    I love this reminder. It is so hard to resist competing with the big box stores. We have to remember that people shop from us because they want a handmade product, so discounting it sends the message that we are overcharging to begin with. I love the quote you found!

    • ladydi says:

      Exactly Jenifer. It diminishes what we do and sends the message that we overcharged to discount later. Thanks for sharing. Love all the positive comments I’m receiving. 🙂

  14. Absolutely. If we devalue our products, clients get the wrong message. I’m not for over-pricing but I do agree that we must be paid our worth. In fact, it has been proven (like in my line of biz) that when people value what they pay for, their engagement & results boom! When they think they got something for nothing, they get lazy… so same principle with you. They will value your products because they are valuable and NOT because you sold them cheap… Great article! 🙂

    • ladydi says:

      If I believe in our product, pricing and quality, I believe our customer’s will come back and hopefully pass on our shop name to others. I do believe in all these things. Thanks Norma 🙂

  15. Sharon O'Day says:

    This pertains to so much more than just the marketing of our goods and services. I see so many women “discounting” who they are and how they deserve to be treated. No wonder you got such engagement on that quote!

    • ladydi says:

      Yes Sharon, you are correct. This statement is universal. It continues to get more views since I originally posted it on my Fan Page. Thanks for commenting.

  16. Pat Moon says:

    If people would only realize that always expecting a discount is going to either drive the real price up or drive the quality of the product down. What happened to “You get what you pay for!”?

  17. Gilly says:

    This is a really good point and important to really think about when servicing your customers.

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