“This guy’s not expensive enough.”

I’ve personally seen numerous examples, both first and second hand, where increasing the price actually allowed people to sell more.

In 2013, one of my clients was trying to choose between two Public Relations service providers, one who charged $8,000 per month and the other $10,000 per month. I informed him that I thought the $8,000/mo provider would deliver better services. However, my client remained doubtful, feeling that the $10,000/mo provider must be more competent to charge that price. I told him that just because one service provider has the audacity (I used a more vulgar term) to charge more doesn’t mean he is better. But my client still couldn’t decide.

Ultimately my client decided to use both of the services for a period of three months. Though expensive, this was great for me personally because it allowed me to gather valuable data on their actual performances and draw comparisons. After the...