Phil Risher explains why the cheapest option kills your value. Higher prices work when you attach a story to what you sell, attracting customers who buy who you are, not just what you do.
If you're always the cheapest option, don't be surprised when your customers treat you as one. The amount that you charge is directly tied to the perceived value. Imagine there's a painting that's hanging on a wall and you tell someone, "Oh, I spent $20,000 on that painting." Instantly, you're like, "Wow, why did you spend so much money?" There's a story attached to it that's not a commoditized painting that they downloaded off of Canva. Your business is the exact same way. You have to give the story about your business as to why people should spend more money. There's a really good book on this called Marketing to the Affluent by Dan Kennedy. In that book, he says, as you charge more money for what you do, people work with you because of who you are, not what you do. You have to give them the story of who you are so that they can validate your pricing.
