Do you often deal with “price objections” from your prospects? If so, you’re not alone. Many of my agency clients and I have heard prospects say, “I cannot afford your program.”
Years ago, I would often offer discounts and even free services without blinking an eye. However, as of late, I’ve take a different approach and it has truly begun to pay off. My new motto is go high-end or go home.
If potential clients are unable to pay your prices, then they aren’t your ideal client. If your program is truly priced on value, then it is time you stopped discounting or giving it away. Instead, you need to focus on getting into some other rooms, where there are actually people who can make the type of investment you are asking for.
What I’ve learned through the years is that the loudest boos come from the cheapest seats. You would be amazed at the types of emails I get with complaints, demands and refund requests, from people who aren’t even paying the full program price. In addition, if you are in the health and wellness industry, then you need clients who are actually going to follow through with your program. If they aren’t willing to make the initial financial investment, they aren’t going to be willing to make the time and effort investment your program requires. My absolute favorite clients are the ones who struggle to make the initial investment, yet somehow find a way. Those clients value the program, work diligently to follow the program and usually see the best results. Their investment costs them, so they work hard to make it worthwhile.
Do not make cheap your unique differentiator.
Create programs and services that are worth every penny, and don’t apologize for your prices. If you are truly offering value and improving people’s lives, then you can stand behind every dollar you charge. Set fair prices, and then be confident in the ways your programs and services will enhance people’s lives. .
Are you a good example?
Are you a business coach with a $5000 dollar package who isn’t willing to fork out any of your own money for your own business coach? Are you a trainer who is asking people to invest in a $199 program but you aren’t willing to invest in more training and professional development. One of the reasons I can stand behind my coaching packages is that I myself believe in the power of a good coach, and shell out a whole lot of money each year for my own coaching. If you aren’t willing to invest, then it will be a hard sell to get others to be willing to invest in you.
If you are legit, if you have a program that truly helps people, then set your price accordingly and stand behind that price. Put your foot down. Don’t offer discounts. Don’t give your services away for free. If people aren’t willing to invest, then they aren’t your people. If that’s a problem you keep running into, you need to do one of two things:
1-Re-evaluate your pricing. Is it truly as valuable as you believe it to be? If not, adjust your prices or improve your program. If yes, then…
2-Get into some other rooms. The upper class is growing, and there are more and more people with discretionary income at their disposal. Find those people and start marketing there.
Charge what you are worth, every time. Don’t limit yourself, the growth of your business or the good you can do because others don’t see your value. Offer quality, charge a fair price and stop apologizing for that!