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The Nitty Gritty:
- Why Christina prices her contract templates on results (and how her pricing structure changed over the last two years.)
- How she found her niche of creatives, including calligraphers, photographers, wedding planners, and coaches (and what her surprising top-selling templates are.)
- How The Contract Shop’s Shopify metrics encouraged Christina to raise product pricing — and how that pricing change inspired her to add additional education to her products.
- Christina’s smart method for creating content that reaches customers at different stages of business.
On this episode of Profit. Power. Pursuit., Christina Scalera, IP lawyer and founder of The Contract Shop, shares how The Contract Shop started and how business evolved over the last few years by increasing prices, offering semi-annual sales, and creating solid informational content.
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I was really, really, really scared every single time I raised the price — and nobody noticed. Nobody wrote me an email that was like ‘you raised the prices!’” But I was horrified because I was like ‘nobody’s going to buy now.
— Christina Scalera
Raising prices is scary — or is it? Pricing is all about experimentation and seeing what sticks. As Christina mentions in this episode, she raised prices multiple times — and every time, sales never slowed down. Now Christina’s at a point where she’s comfortable with her product prices — but it was a two-year journey to get where she is today.
Sales and incentives
I’m a big proponent of a twice-yearly sales system. There’s two reasons for that. One because it’s a massive revenue generator. It’s dependable. At 6 month intervals, it’s something that people can tolerate. Secondly, and more importantly, not everybody can afford our templates at the price they’re at.
— Christina Scalera
The Contract Shop’s products range between $17 for the perfect email checklist to $1,499 for a bundle of multiple vendor contract templates for wedding planners, with her most popular templates ringing in at $455. Christina realizes that not every potential customer can afford regular pricing for higher end products so every year, she runs two sales: one during the late spring/early summer and one during Black Friday. She also runs these sales as a recurring source of revenue.
I write blog posts in groups of 3. I write one to the core consumer and that’s usually the longer one. Then, I think about someone who’s a little more beginner — where are they at and what’s the issue they’re facing around this topic? Then I think about somebody who’s more advanced or has more years under their belt: what are they concerned about around the same topic?
— Christina Scalera
Christina cares about creating great content — and it pays off. “There’s zero trick: it’s just me being really passionate about writing and creating long blog posts,” she says.
So how does she create awesome content? She thinks about her topic and what each of her 3 customer types need to know. For example, they might want to know more about the client experience. The core customer wants to know how to create a great experience. The beginner customer wants to know how to find clients. The more advanced customer wants to know how to address client refunds. Ultimately, the end result is always to offer a contract to meet their needs.
Listen to the full episode with Christina Scalera to hear more about The Contract Shop, pricing changes and incentives, and behind the scenes of her content creation method.