Ok, so let’s talk about pricing programs and selling programs. This is a huge topic in the coaching and transformational industry, and one that I know can really stop ethical practitioners in their tracks until they really hit on the aligned place for themselves.
(What I mean by this is that for in-integrity practitioners, we find it VERY hard to sell something – impossible, actually – if we don’t feel we are being in integrity with the price or how we’re selling it).
I’ve got some philosophies – directly related to my personal values – that are kind of different from many other folks in the industry when it comes to all of this, and I wanted to share a few of them with you today (I’m not sharing them all because it would take hours to read!).
Before you read, please know this:
Anything I ever share with you – in my newsletter, on social media, in my programs, is not THE truth; it is simply MY truth. My truth that I am sharing with you for you to consider for yourself.
What I share with you might resonate really deeply for you, or….it might not. You might completely disagree with it. Either way is ok. The idea isn’t for you to believe everything that I believe; instead, my purpose is to share thought provoking ideas with you in order for you to clarify what ideas are right for you.
I honor your truth, whatever it is.
So check out some of these philosophies on pricing and selling, and help them guide you to your truth.
1. The value of my offerings far, far exceed the price of my offerings
I actually underprice my offerings.
Even though my programs are simply not comparable to anything else in the industry, comparably, I charge way less than most with my reputation, experience, and proven results.
Now, I know that this is a “no no” for a leader in the field to do because we’re “supposed” to be all “high end” and “charge what I’m worth”, or else it’s assumed we are not valuing ourselves and our work enough, or that our clients won’t value it.
But that just doesn’t track for me.
I underprice my offerings: the value that my clients receive is worlds higher than the price that they pay. And my offerings are a “deal” in terms of industry standards.
I don’t say this with shame or with misplaced pride in any way.
Instead, I say this with deep pride in my generosity and commitment to providing extraordinary value, and…with the satisfied knowing that even though I don’t put an astronomical price on my valuable work, my business is more than thriving.
Now, to be clear: it’s very important to charge a rate that feels good to you. And by “good”, I mean, one where you feel you are valuing your work and being valued, and one where you are able to make a living.
One of my magic money-making tips is to surprise my students with all that they receive from me. It creates re-signs and referrals and incredible reputation.
Which leads me to another important pricing and selling philosophy…
2. I refuse to over-promise. In fact, I under-promise and over-deliver
I am just not into overblown marketing promises; They are anathema to my being.
I will not tell people they can reach their dreams overnight. I will not tell people that my offering will solve all their problems. I will not tell people that it’s easy-peasy to reach their results. I will not make wild promises just to get someone to buy something from me.
In fact, I do the opposite.
When I talk to prospects, I let them know that my offering isn’t a magic pill. I let them know that they’ll have to put real work in to receive results. And I let them know that progress is a journey.
And then I over-deliver like no one’s business.
The result? Ideal clients in my programs who aren’t expecting me to magically make anything happen for them and who are prepared & excited to roll their sleeves up and do the work.
Also, ideal clients in my programs who are beyond grateful for all I’ve offered and all they’ve received.
It’s a win-win.
3. I don’t encourage anyone to spend more than they are actually able to on my offerings
There is a big difference between “I’m not sure I want to spend money on this program because I don’t know if I’ll get results” and “I’m not sure I can spend money on this program because I don’t have the money in the bank.” And I believe it’s important for us as entrepreneurs to know the difference when we speak to prospects.
Now, I know it is particularly controversial for me to say this because many other entrepreneurs feel otherwise, but I will not encourage anyone to spend more money than they have on my offerings and I will not encourage anyone to spend money they need to use for rent or food or anything like that on my offerings.
It just doesn’t feel right to me, no matter how much I might know that the program would be so wonderful for this prospect.
I am a HUGE HUGE believer that buyers should feel a combination of excitement AND a little bit of fear when they make the investment to work with me. (the fear lets you know that you’re taking yourself and the investment seriously!)
And…I am also a HUGE believer that the amount of the investment should NOT feel uber stressful or pressure filled for the buyer. That’s just not ok for the nervous system.
My values dictate that I will not encourage anyone to put themselves in a stressful or pressure filled position in order to be in a program with me.
4. I will not encourage a sale if I don’t believe it’s the absolute right fit for the prospect
I don’t really need to explain this one too much!
Short story: I routinely tell folks NOT to step into my programs…and I feel SO GOOD about this.
And guess what? It doesn’t cost me revenue at all. Those folks are grateful for my honesty, and almost always eventually step into a different program when the time is right as well as tell their friends about me and my integrity.
I hope this article is helpful for you as you move through your work and price and sell your offerings.
May you always feel in integrity and filled with value, as well as honoring of your prospects as you do this work.