Ah, pricing: everyone’s favorite topic and by far the topic I get the most questions on from my clients. Keep these 5 things in mind when pricing any offer.
Ah, pricing: everyone’s favorite topic and by far the topic I get the most questions on from my clients.
Do we price based on what our competition is pricing? No. Do we price based on what we think our dream client can afford? Nope. Do we price based on what *we think* it’s worth? Well, not quite.
Price your Signature Offer, programs and services based on these 5 things:
1. Price your Signature Offer based on the Transformation + Results
In other words, the program promise.
What is the transformation you’re facilitating? The problem you’re helping them solve? The results you’re helping them achieve?
Now think about what that’s worth to your dream client, and what their journey might be like without your support. These are a few of the vantage points you want to look at pricing from as it relates to the value of the results and transformation. It’s really important for you to have clarified the transformation in order to price your signature offer.
2. Consider How the offer, program or service is delivered.
There’s a difference between telling someone what to do, giving them information… and actually showing them how to do it. This is why you’ll see digital courses + content memberships priced much lower than 1:1 or group coaching programs.
So if you’re going to not only teach your dream clients not only what to do, but how to do it, and support them through the implementation of that, then you want to aim higher.
3. How much support are you offering?
Now think about how much support you’re offering your dream client. Support can look like:
- 1:1 sessions
- Group coaching calls
- Support inside of a FB group or slack channel
- It could look like accountability
- Cheat Sheets, guides, templates, blueprints, etc
It can look many ways. And it doesn’t necessarily mean giving more. You don’t want to overload them. You want to look at it like: what can I do to simplify the process for my client? How can I simplify how to get from point A to point B? Where they are now, to where they want to be. At the end of the day, people want to get results, right?
4. Your expertise & track record
Don’t let that scare you. What I mean here is, your expertise and your ability to deliver on the transformation, the program promise, the solution, etc.
So you need to consider things like:
- Where are you on your journey? Are you getting your first client or are you getting your 20th client?
- What’s your track record? What kind of results or transformation or shifts have you facilitated in your clients before?
- How much time have you spent testing, refining and proving your signature method?
Whether you’re a coach, consultant, a healer or practitioner taking your dream clients through a transformational program; or perhaps you’re a business coach. Your dream clients are signing up to get results. That’s what people pay for.
And I’m talking about results here, I’m really not talking about getting a coaching certification and calling that expertise. What results, shifts and transformation have you facilitated that you can underline your pricing with?
If you’re just getting started I encourage you to get some beta clients and build from there!
5. Your ability to articulate 1-4
This is probably the most impactful tip of them all when it comes to pricing your signature offer, programs and services. How well are you able to articulate the value of the transformation you’re delivering, how much support you’re giving them and how impactful this has been for your previous clients? This is where messaging comes into play and knowing the right points to hit and how to articulate them will bring in the sale every single time. There’s some work that goes into this, like knowing your dream client in and out and deeply understanding the transformation you’re facilitating / the results you’re helping them achieve.