KNOW YOUR WORTH
Have you ever wondered what makes a lot of coaches and service providers undersell themselves and their services? Well, if you’ve ever heard anyone say “I am not a sales person.” that’s part of the issue. Combine that with a healthy dose of “It’s rude to discuss money,” and you can see why it’s just easier to keep your rates low. It helps if you think of your services from a different angle. Not only will you see things in a clearer light, but selling suddenly won’t feel so…salesy.
Traditional pricing discussions usually go something like this:
You’ve found a potential client and you begin to explain what you can do for them, how your coaching or service works, what he or she can expect (how many calls/emails, phases of work, length of contract), etc. And then you say, “My rate is $XXX.00.”
You’ll get one of three answers: yes, no or (the kiss of death) maybe.
However if we switch the focus from what he or she will get from you, take a look at what she will achieve when she hires you.
This is easy for a business coach. Talk money. How much more profit will your client make when she hires you? If your coaching fee is $1,000 per month, but you can show her how to increase her sales by $3,000 per month, then your price is inconsequential. She’ll earn it back three times over, not only while you’re actively coaching her, but for the rest of her business life.
Can you think of someone who wouldn’t want to jump right in?
What this approach does is talk about the cost of NOT hiring you, rather than the cost of your coaching. Because if she doesn’t work with you, she’s losing $3,000 per month.
There are other kinds of coaches though. What about them? The same applies, you just have to find a way to show your clients the cost of their inaction.
For a life coach, inaction (to your potential client) might mean years of feeling unhappy and unfulfilled. Imagine what it might be worth to your client to lift that depressing burden forever?
This is the very same for health and wellness coaches. Imagine adding 10 years to the life of an unhealthy, overweight man? That’s priceless.
Dating coaches, we didn’t leave you out! For someone who’s been unlucky in love, in and out of one bad relationship after another, the promise of a man (or woman) who will love and cherish them is worth nearly any price.
Be an artist – paint them a picture of what their life will look like with you’re guidance.
Show then what their life/business/love look like without your coaching services, and what can it look like with you? Once they see the difference, pricing becomes nearly irrelevant.
After you’ve set prices, its time to start marketing! If you’d like 1 on 1 help with pricing OR marketing for your products or services, we would love to talk to you! You can schedule a complimentary call with our chief Business Strategist & Productivity Coach Angel Santos at schedule.growmybrand.org or call us at 713-348-5157.
Can’t wait for a call? Check out our Business Building Bundle at http://growmybrand.org/index.php/training/!