Have you increased your prices lately? If you answered yes, let me congratulate you! Sometimes business owners fear raising their rates, believing they won’t get clients and will lose out on prospects. I went through this as well in my earlier years.
Yet, you can stay with your pricing structure so long before you need to change things, especially if your calendar is getting full. That’s a sure sign it’s time for a fee hike. When I started to really fill my practice, I raised my prices as frequently as every couple of months.
Sometimes, after an increase you may notice a bit of resistance. Perhaps you’ll get calls from several prospects, run through the get acquainted information and then they don’t sign up. People might tell you “that doesn’t fit in my budget,” or say they’ll get back to you but you never hear from them. Even if you use the bookend method of scheduling a follow up call, they still don’t say yes. This can make you question if your price is too high and wonder if you should reconsider. However, that is usually not the case.
More often, the resistance is within you and can be a mindset problem. To address this, there are two vital steps to take to ensure you stay in the flow and still get new clients.
1. Add Value. You want the value of your offering to be so yummy that people find it a no brainer to sign up. So, you have to add value when you take your prices up. Add any of the following:
– Brief chats by telephone
– A VIP half or full day in person
– Extra programs on audio or ebooks
– Making your entire library available
2. Align Your Energy with Your Pricing. This is a mindset matter. You need to check in with yourself to make sure you are aligned with the relationship between the value you provide and the price you want to charge. Do you have thoughts about not being fair or that other people charge less? Some prospects will think your fees are too high while others will see tremendous value. The truth is, it doesn’t matter what other people think; it only matters what YOU think.
Check in with yourself and ask, “Do I feel I’m giving clients and prospects everything that justifies this fee? Will get the results they desire?” You want to give even more value so that you have a strong conviction around the program fee to get clients. You need to feel this in every cell of your body and every fiber of your being – that’s how you know your energy is aligned with the program’s value and pricing.
How do you feel about the value you offer clients? Maybe it’s time to check in with clients to discover what else they might need or really want from working with you. It’s so much easier to get clients when you don’t have to struggle to point out the incredible value they get from working with you.