Are you wondering if you should raise your rates? If you have been thinking about the pros and cons of a price increase, I have a recommendation for you. First, if you want to raise your rate, do this on your super premium packages. However, to keep your programs as appealing as possible, raise the value you offer at the same time. Give clients so much that it starts to seem incredibly affordable for everything they get over the duration of the program.
When you make it all about the value and the access to you, you can outshine your competition and stay ahead of them.
Raise Your Rate Without Slowing Registration.
Our clients have gotten such amazing results at an affordable price. It’s not me saying that. They tell us that for such a low price point, it’s a no-brainer for them to choose us and keep referring clients to us. They sign up again and again and often move up to the next level. This is a way to raise your rate and not feel a change in the number of clients who register.
Now if your prospects balk at a year-long program, you could offer a six month package. I did a six month program for a long time and people at first would complain about the length. I would say, “Listen, the reason it’s a six month program is it simply takes that long for me to teach you all the elements. You’re going to get results right away, but it’s at the six month mark that things really happen.” Believe me, they get it.
If you have a solid rationale as to why you are teaching over a period of six months to a year, clients will understand. I explain to new members of our coaching program that because I have so much to share, it takes time for them to get it all. Honestly, it’s a two or three year curriculum and I give all I can in the first year. But that’s why most people stay for a second year and then often up-level to the next program in the third year.
Make the value of your program so strong that it becomes almost crazy to miss out on it. That’s how you easily raise your rates by adding more value and the best way to continue filling your programs.
Your Client Attraction Assignment:
One great way to raise your rate is to create a super premium package. If you don’t have one, now is the time to create one. This is a smart way to withstand bumps in the economy – because it really becomes all about the incredible value clients can get as well as more access to you – which is often what they want most. Create your super premium package and start to attract higher end clients at the fee level you deserve.