Want to know what keeps a lot of coaches and service providers from charging what they’re really worth?
It’s that all-too-common belief that “I am not a salesperson.” Combine that with a healthy dose of “my clients won’t pay that,” and you can see why it’s just easier to keep your rates low.
It’s time to 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.”
Here’s how traditional pricing discussions go:
You talk to a potential client, and you explain what you can offer, 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.”
Your client either says yes, no or (the kiss of death) maybe.
Let’s turn that around, and rather than focus on what he or she will get from YOU, take a look at what she will achieve when she hires you.
For most service providers, this is easy. Talk money. How much more profit 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.
Who wouldn’t jump on that with both feet?
What you’re doing here is not talking about the cost of your coaching, but rather the cost of not hiring you. If she doesn’t work with you, she’s losing $3,000 per month.
What about other product-based businesses though? The same applies, you just have to find a way to show your clients/customers the cost of their inaction.
If you’re 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?
The same goes for realtors. By working with you, their home can be sold quicker and they get more value for the home. If they are searching for a home, you can get them into a home and meets their budget requirements. You can even get them in their new home quicker, thanks to your lending networks. That’s priceless.
What about dating coaches? 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.
You just have to paint the picture.
What will 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.
How are you going to get your clients/customers to see the bigger picture when it comes to your pricing?