There comes a time in almost any entrepreneur’s practice when you revamp your programs. Talking to new prospects about the revised program is easy since they don’t know about your previous options. But how do you get existing clients to upgrade?
Earlier in my practice, I raised my fees on a regular basis, like every few months for new clients that signed up for one of my programs. However, I never did actually raise my rates for current clients. That didn’t feel right to me.
Yet, when you adjust your programs, if you are providing more services or if clients are getting better results, there is a way to discuss this with your current people. I recommend taking the following steps to open a conversation about the new program and pricing:
1. Timing – bring this up a month before a client will be finishing with you. This is a great time to talk about their future goals and plans.
2. Discontinuing current program – Let your clients know you are discontinuing the program they have been in and replacing it with a new and improved program.
3. Set up transition call – Ask if they’d like to have a conversation about the new program to see if it makes sense to continue in a more in-depth way that offers bigger, faster results. This is when you go over program details and pricing so you have established the value your new program delivers.
4. List objections – Type up the advantages of the new program so you actually have a rationale in front of you as to how clients would benefit if they moved up and that it’s in their best interest. Then, write down all of the objections that they would have and counteract those again with a really good paragraph.
5. Don’t be devastated – Expect that many clients won’t want to pay more. At least this process gives you the opportunity to discuss it with them and encourage them to go for the upgrade.
Your Client Attraction Assignment:
To create a list of objections and address each one, think about interviewing clients who are in the new program. This is a great way to also get testimonials from them and prepare them to share their excellent results. It also helps you gather details about their accomplishments so you can elaborate on them in your discussions. Your new programs may be delivering fabulous results you hadn’t even thought about.