How Increase Your Coaching Prices - Latest 3 Ways to Get Better at Increasing Your Coaching Prices
Many coaches are way too afraid to raise their asking prices because they feel that they will lose their customers in the process.
You know, asking for more money for high quality products doesn't necessarily mean shooing your clients away.
If you know how to increase your prices wisely, this can even help you generate more sales.
Here's how you can increase your coaching prices: 1.
Create a great online image.
You can charge more and not lose customers if people see you as the best in the market today.
Let me give you an example: I needed my facial warts to be removed a couple of months back and I decided to find a nice skin clinic within my arena.
While doing my research, I found a highly recommended clinic that was endorsed by local celebrities.
Although I needed to drive more than 2 hours to get to this clinic and although I needed to spend more than $500 compare to other clinics, I was decided to have my warts remove only in this clinic as I have an assurance that it is the best and that they will not gamble losing their credibility by offering me inferior service.
2.
Increase your prices once or twice per year.
Even if your target market has great buying power, you will surely lose them if you keep on raising your fees every month.
They will surely think that you are taking advantage of them and that you are only after their money.
Once you have raised your prices, make sure that you communicate the reasons why.
You may need to invest on the latest software to give them better service or you may need to spend money in increasing your knowledge in your field.
3.
Know your prospects' perception of your worth.
Do they see you as the best in your chosen niche? Do they see you as someone who has great reputation? If you answer yes to these questions, I can say that you can increase your prices up to a 100%.
You see, if you have a loyal following and if people have faith that you are going to deliver, they will usually not mind spending more dollars as they have an assurance that they will get great value for their money.
You know, asking for more money for high quality products doesn't necessarily mean shooing your clients away.
If you know how to increase your prices wisely, this can even help you generate more sales.
Here's how you can increase your coaching prices: 1.
Create a great online image.
You can charge more and not lose customers if people see you as the best in the market today.
Let me give you an example: I needed my facial warts to be removed a couple of months back and I decided to find a nice skin clinic within my arena.
While doing my research, I found a highly recommended clinic that was endorsed by local celebrities.
Although I needed to drive more than 2 hours to get to this clinic and although I needed to spend more than $500 compare to other clinics, I was decided to have my warts remove only in this clinic as I have an assurance that it is the best and that they will not gamble losing their credibility by offering me inferior service.
2.
Increase your prices once or twice per year.
Even if your target market has great buying power, you will surely lose them if you keep on raising your fees every month.
They will surely think that you are taking advantage of them and that you are only after their money.
Once you have raised your prices, make sure that you communicate the reasons why.
You may need to invest on the latest software to give them better service or you may need to spend money in increasing your knowledge in your field.
3.
Know your prospects' perception of your worth.
Do they see you as the best in your chosen niche? Do they see you as someone who has great reputation? If you answer yes to these questions, I can say that you can increase your prices up to a 100%.
You see, if you have a loyal following and if people have faith that you are going to deliver, they will usually not mind spending more dollars as they have an assurance that they will get great value for their money.
