How to charge more? Be worth it (the Amex model) · Teacher Support Network (Free)

Andrew Woodbury

26d ago in General discussion

How to charge more? Be worth it (the Amex model)

American Express is one of the most popular credit cards.

And it's the most expensive.

It's a good example of being expensive and successful.

Amex is pricey on both ends:

1. To have the card, you need to pay a monthly or annual fee

2. Many merchants don't accept it as the transaction fee can be 1-2% higher than other cards.

And yet, over 141 million people have an Amex card globally (as of 2023). Users of the card also spend the most on average - more than Visa and Mastercard.

So, what's the secret?

Benefits.

American Express has a slew of benefits for users, especially their points system. Last month I was able to fly Business Class from Paris back to Canada just on Amex points - I didn't pay a cent.

Many teachers I speak with are afraid to charge more or of being too expensive for their clients.

Amex is a good model - you can be expensive if you're worth it.

Have the benefits outweigh the cost and it's a win-win.

Here's your task: raise your prices now and brainstorm how you can add even more value to your clients.

You got this.

If you want to throw some ideas against the wall, comment below or send me a DM.

I'm happy to help.

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