How to Price Your Coaching Program | GET HIGH TICKET GROUP CLIENTS

Welcome back. Today we’re talking about how to price your
coaching program. My client was able to double his rates and
still book clients. He actually booked five additional clients
after we worked together and at his doubled rates. So how was he able to do that and how did
he even know how to price his coaching program in the first place? Well, that’s what we’re going to talk about
today. The first thing that I want you to do is I
want you to look at the market rate and then I want you to forget it. Okay? Why? Looking at the market rate, that means paying
attention to what other coaches are charging, seeing how other courses are priced, and seeing
how other group coaching programs are priced, whatever it is that you’re selling, definitely
take a look at the market and then instead of saying, “well, I’m going to price this
way because everyone else is pricing that way.” I want you to ignore all of that pricing. And then I want you to move into the next
step which is looking at the transformation that you offer. So when you base your pricing on your transformation
it is so much more powerful because just because someone else is selling a course at $200 or
a thousand dollars or $20,000, that doesn’t mean that you should specifically price your
course that way. If you see everyone else selling a specific
type of course for a thousand dollars or selling their coaching for $5,000, that doesn’t necessarily
mean that you should charge $5,000 for what you offer. You could have a much greater transformation
or your transformation might not be as strong. One of the things that’s going to make it
much easier to sell your program is testimonials. The ways that you’ve been able to help previous
clients and the results that they’ve gotten, it’s going to make it that much easier for
you to communicate the transformation that you offer. The first thing you want to do is when you’re
basing your pricing on the transformation that you offer is you want to look at all
the tangible and intangible benefits of working with you. In order to do that, just go back to your
previous clients. Ask them, what was it like before we started
working together? What are the results now that we’ve completed
our work together? How do you feel? Those are some of the intangible things. What were you able to accomplish? Do you have any numbers? Can you quantify that? Were you able to hit that goal that you set
at the very beginning? And when you start laying out that transformation
and getting really clear on the results that your clients have gotten, you’ll be able to
get more clear on the tangible and intangible results of working with you. If you don’t have clients already and you’re
kind of just getting started out and maybe this is something that you’ve been doing full
time and your job or something that you’ve been helping people on the side for free,
but you don’t necessarily have results or testimonials to show, that’s absolutely fine. What I want you to do in order to quantify
the tangible results is to think about what are the costs of not getting this problem
solved? For example, if you know that you can help
someone to lose 30 pounds and losing that 30 pounds is going to significantly improve
their health; you want to start thinking about what are the costs of not losing those 30
pounds? What is their health going to be like? And then what other problems could that cause? So is that going to cause them additional
costs in terms of medical care? Is that going to cause them time off of work? And they may lose money that way. You want to start thinking about those tangibles
that you can specifically quantify and say, as a result of working with me, now you’ll
have the energy to travel and go to work everyday or not go to work and choose to do something
else. Whatever it is that you want to do. And so it’s important that you’re able to
quantify those tangible as well as intangible results. And if you don’t necessarily have testimonials
and you need those, then I want you to go back through, speak with your former clients
or people that you’ve talked to and ask them what would it feel like if you were able to
get this problem solved? How would that affect your life? What other areas of your life will be affected? And there’s an entire process of questions
that you can go through in order to really get clear on that transformation. I talk about this a lot more in my Package
and Profit training. It’s an on-demand course. A four part video series along with a workbook,
sales scripts, and it takes you through how to get really clear on the transformation
so you can create your high ticket offering. So I definitely recommend that you check that
out if you’re still having a little bit of trouble packaging what you offer. The final thing to look at when you’re looking
at pricing your coaching program is to establish the value. Now, it’s important to understand that money
doesn’t exist in a vacuum. When I say that something is worth $5, if
I say this camera for example, is worth $5, someone might look at me and say, “no, I
know that I can get cameras at the store for $400, so that’s not a $5 camera.” Or if you tell somebody, Hey, this is a $20,000
camera, and then they say, “ah, I know I can get cameras at the store for $5,000. So that’s not a $20,000 camera.” Money doesn’t exist in a vacuum. There’s always a comparison. I wanted to share that tiny story with you
to share with you that there’s always a comparison when you offer a coaching service and you’re
telling people, hey, it’s going to cost you $10,000 to work with me for eight weeks. The only thing they really have to compare
that with is anything else that they know that costs $10,000. So they might start thinking, well, I could
get a used car for $10,000 or that’s two semesters at college or whatever other amounts that
they have to compare that with. That’s essentially what they’re going to do. So you don’t want them to figure out what
they’re going to compare it with. You want to establish the value for them and
you do that by comparing it to those tangible and intangible results. So you know, for example, if you tell someone
as a result of working with me, you’re able to lose 30 pounds or more, what would that
do for you and your life? You’re able to run more. You can stay up late with your kids. You won’t have to worry about getting tired. And so that’s gonna allow you to do so much
more in your life. Not only that, but you’ll save on your medical
bills and you potentially won’t have to pay, you know, 20 or 30,000 dollars down the line. Your insurance might go down etc. Whatever those tangible results that you determined
that you quantified, you can put that into your offer. And now when you say it only costs 10,000
to work with me, they’re thinking, wow, I’m going to save $20,000 just in medical bills,
insurance and all these other things, plus I’m going to be able to run around with my
kids and all those things that I’ve been missing. Now the $10,000 seems small in comparison
to $20,000. For the numbers, I just chose those numbers. I literally just picked those out of the air
for the purposes of this video. But it’s important to understand that once
again, money doesn’t exist in a vacuum. So when you’re explaining the value of your
program, you’ve got to base it on that transformation. One of the best ways to do this, to explain
the value of what you’re offering and to make that offer, is to create a webinar, create
a selling presentation. I really, really love webinars for the ability
that they have to establish that value. I’ve got an entire process to create a webinar
that clearly establishes your value, and that was exactly what I did with my client, Kelly,
when he first started working with me, he was charging a certain amount, I won’t say
how much he was charging, but I looked at him and I said, Kelly, do you realize the
results that you’re able to get people, the transformation that you’re offering? You need to double your rates. Immediately he doubled his rights and he booked
five more clients at that doubled rate. He immediately gave himself a raise by being
really clear on what he offered and the transformation that he offered, but he didn’t just double
his rates and then offer that rates to clients. He actually brought them through a webinar
first. So the webinar helped to establish his value. That way when he got on the phone with them,
it was that much easier for them to say yes at those new doubled rates. I stand by the power of webinars to help you
establish your value, to deliver the details of that transformation. If you’d like more help with creating a webinar
so you can sell more of your group coaching one on one or courses, then I’d love for you
to join me in my free training. It’s called You’ve Got Clients. During this training, I’m going to share with
you exactly how to create a webinar that brings people through the thought process they need
to go through in order to build that value. I’m going to share with you exactly how we’re
booking coaching clients using a webinar as well as how we’re getting inexpensive webinar
registrations so that we can have an ROI that’s that much higher. In order to join me, all you have to do is
click the link in the description box or you can go to. in order
to get signed up for the training. If you have any further questions on this,
just leave them in the comment box below and don’t forget to click that like button and
subscribe if you haven’t already. I’ll see you in the next one. Bye.


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