Jacqueline Snyder argues that underpricing handmade products hurts both maker and customer. Most businesses fail within a year because low prices don't cover marketing, photography, copywriting, and the time spent on each product launch. Price with confidence, focus on high-margin evergreen products, and build relationships with VIP customers instead.
If you ask someone, how much would you pay for this? They're gonna be like, $10, $20. Like, no one knows what something's worth because they don't know what it takes. You are assigning the value of the product to it. If you assign a value that's too low, you're actually doing a disservice to the customer because you're not going to be around in a year. If it's a handmade product and you are proud of it, you have to price in the margin that makes it reasonable to continue in your business. Every time you introduce new products, that's marketing time, copy time, your team's taking photos, they're answering questions, they're in the DMs. If this isn't going to be like a slammed dunk huge volume, it's actually made you no money. We did all this work just to create that product where we could have been marketing our evergreen products, like reaching out to our VIPs, spending time fostering that connection with our customers instead of chasing some low price point thing that maybe doesn't even align.
