The biggest thing I can tell you when determining what you are offering is to ask this question.
What does your offer (Program, coaching, service) solve? What does it promise to alleviate?
Most people when struggling to figure out what to charge or how to craft their offer from a video or a webinar struggle with that biggest fundamental question. Or they will downplay what their solution solves.
They will focus on say the feature set of their solution and not the big picture. They often times don’t RAISE THE STAKES enough in their own offer.
For instance, I have a coaching client who is a personal fitness expert. He has a program that teaches fitness and meal plans that are intended to help someone get back in shape and stay consistent with a new lifestyle. He was struggling to figure out what to charge for the program.
The key points I ask are these.
1. What is the maximum benefit of the benefit of your program?
When I asked him, this is what he said.
“Well, a person can lose weight, get healthy and build endurance.”
Yes, that is the benefit, but what is the benefit of the benefit?
If they get healthy, eat right, stay fit, build endurance, what can/does that do for their lives?
When I asked to reframe to that, he started to tell me a story of one of his clients who went from being obese and depressed to losing the weight which was a bridge to finding the love of his life, transitioning into a different career that made him happy, and finding more time to do all the things he couldn’t do before when he was obese.
And to make matters even more severe, before that,
this person was on the verge of suicide.
As he unfolded this story, the benefit of the benefit emerged.
The result of his program is nothing less than LIFE CHANGING. The vehicle for this massive change is through fitness, and meal plans.
2. The second thing I ask (which he started to answer on his own) is, what feedback are you getting from clients? Are they telling you the RESULTS they are seeing from your program?
You see, even if you find it a challenge mentally, your clientele’s feedback can help with that.
I have another client who sells a program on getting rid of acne. When I asked her what her audience says about her program, she actually revealed that her clients call it LIFE CHANGING.
What will someone pay for LIFE CHANGING?
3. The Results Equation…
Basically it is the greater the result, the greater the investment…
If you are someone pivoting to working for yourself, this next section is for you.
No Clients and In Transition?
I hear this all the time.
“Casey, what if I don’t have any results from clients?
I’m transitioning from a day job/career to finally working for myself.”
Well, my response is…”Did you get results for others while at your previous job?
Or have you helped someone with your expertise that you didn’t charge?
Or maybe you helped yourself?”
All of these scenarios can be used to measure results as long as there was transformation.
But don’t make this common mistake when pivoting to work for yourself.
4. STOP CHARGING HOURLY…
***Many times the temptation is to take what you were
doing in your previous company and charge similar prices.***
For instance, if you were earning 60k working for someone else as let’s say a photographer, the natural instinct based on what you’ve been used to is to charge prices on an hourly basis in a similar fashion. The problem with working by the hour is that the 40-hour workweek construct as a w2 employee is NOT the same when you begin to work for yourself. As a small business when starting out you are doing most of the work yourself. And as such there might be weeks where you are working 60 hours or more. Or sometimes 20 hours depending on the workload. So taking that 60k and dividing it into hourly won’t make sense for your transition.
Nowadays, if I were to breakdown a result I can get with someone in an hourly basis, my hourly value is 2k per hour. However, I rarely do hourly coaching. I might do a day’s worth of coaching to a client, where I dive into their business which can often lead to a 6 figure result for them.
But as such even if I were to break down my hourly, I still focus on what results can be achieved from working with me. Adjust your mindset when making the transition to working for yourself.
If you are say a photographer, base your pricing on a per-project basis.
Let’s say you are a headshot photographer.
As such if you can highlight that it isn’t that you will shoot someone for 3 hours and deliver x number of photos to them, it is about how you can help them to get the auditions they want through a compelling picture that few others can do.
As such, people who hire you will pay you per project based on your best results. (The result being that your clients get booked in acting projects) So that would be more like a 2k package where it is less based on hourly.
5. STOP UNDERCUTTING YOUR COMPETITION.
The common track for most startups is to undercut the market (their competition) by offering lower prices. But inherently by doing so, you start attracting the wrong clients.
You start attracting clients solely based on price.
Clients who are only looking for a ‘deal’ are higher maintenance,
don’t value your time and often take very little action.
Do you think your IDEAL client would rather
you get them results or pay bargain basement pricing?
If you can solve their BIGGEST PROBLEM, that is what they care about.
You see, CHARGING HIGHER PRICES HELPS TO FIND THE RIGHT CLIENT.
It helps you to qualify the right clientele.
(Hint, this is where a webinar funnel comes into play. It is the best qualifier I know.)
AGAIN…Big Results = Allows You To Charge Higher Prices.
For instance, we have helped our clients earn 20k a month all the way to 20k a day and that
is exactly why our coaching programs aren’t cheap, nor are our software products.
6. CONSIDER YOUR SERVICE AS AN INVESTMENT NOT A COST
[Hyper Growth Comes From Skin in the Game]
When people join our programs they are paying an investment in themselves to potentially get to the same point as our other clients. We provide transformation and clarity.
So think about what transformation can you provide your clients?
When you start to become a more premium service and charge accordingly, your client’s investment will often time get them results faster due to skin in the game.
Do you think people take action when they purchase a $30 ebook? Often no.
But if they spend money, they put a deeper urgency on themselves to succeed.
I want you to flip the dialogue in your head.
Instead of thinking about how charging higher prices can benefit you, think of how it can, more importantly, benefit your client.
By valuing your time, they in turn experience that, and oftentimes have more faith in your abilities to help them gain success.
This is the equation to working less and earning more
while getting maximum results and transforming your client’s lives.
2 tips for positioning your expertise
We recently did a survey to our audience and asked them what was the biggest struggle when bringing their business online.
Many of them said they didn’t know how to attract high paying clients.
And then they didn’t know just HOW to sell something to them.
Well, it first takes knowing exactly who that audience is that you are trying to attract and doing research to find out if you want to attract them in the first place.
Half of it is science and research, the other half is testing and refining.
There are ways to start to determine if you are creating the right content to attract the right audience.
1. CALL OUT YOUR AUDIENCE.
In your marketing message are you saying WHO you are attracting?
For instance, are you saying something like…
‘Are you a successful photographer who’s had success in the biz, but now looking
for ways to get more clients…actually…better clients? If so…I have something for you.’
If you want to attract a person who is of a certain status or has a certain revenue they’re generating, let them know.
Highlight those you have helped. Bring in case studies and even if you helped them for free, ask them to give you a testimonial on the transformation they achieved working with you.
2. TAKE ON FEWER CLIENTS.
If you are just starting out, I have a little piece of advice. Stop trying to get thousands of customers and clients. Try to just get one client at a time. The pie in the sky notion of selling a course or something to thousands and not to say 100’s on autopilot sounds good, but oftentimes it still takes a boatload of time to get it right.
I would start with a coaching program if I were to start over.
Fewer clients, higher prices, and scalable.
I would offer a group coaching where I had one session
a week where everyone in my program could come. This would leverage your time in the best way while still providing quality content.
When I started out, that is how I was able to generate consistent revenue online.
I sold coaching programs from a webinar,
took on fewer clients and sustained a good revenue.
Sell high ticket group coaching from a webinar!
In fact, sell everything from a webinar.
I think the problem happens when people try to jump over to wanting to sell thousands
of courses even before they’ve just had 20-30 higher-paying clients that were maybe a hybrid of one on one clients.
When I first started out, I was a YouTube Marketing Consultant. I had 5 clients paying me 2k a piece in the best month during that time.
I knew it wasn’t scalable, so that is why I started to build a hybrid of it. Where I could be a consultant but at the same time sell my course. Which leads me back to making an offer from a webinar.
Let me break down the OFFER HIERARCHY based on whatever your program or offer is.
DIY [Your Membership Site or Course]
What is the best pricing or offer for your membership sites?
For Do It Yourself programs and courses I would suggest any type of offer
I know that is a big spread but hear me out.
When I built my first course, I originally sold it for only 199 dollars and it was a big value-based program. It was a YouTube marketing course. Selling it at that price revealed some holes.
A good portion of those people didn’t consume the course at all. They basically bought and shelved it. This was the my very first experience with realizing that pricing is a qualifier.
The people that were buying at 197 were needing
more hands-on support and they were more apt to refund.
I increased my pricing to 297 for the course and then guess what happened?
I sold double what I sold at 197. And I didn’t change my webinar (which I sold the course from), nor did I change the offer. (ie. I didn’t add bonuses or anything else to increase the perceived value.)
My next experience was a fluke.
I was hit up by a big name internet marketer who wanted to promote my course…but the only catch was that it had to be a 1k program.
So what did I do?
I increased my price to $1,000. And to make the offer enticing, I added:
A 30-minute consultation (That they could only get from the webinar)
3 additional bonuses that filled in gaps in my program.
I changed the value proposition and targeting slightly. (Ie. I turned the program into ‘How to become a YouTube Marketing Expert/Consultant’ instead of just, how to leverage YouTube marketing.
With a price increase, I sold just as many at $997 as I did at $297.
What’s also amazing is that those who bought that level had greater results and fewer refunds. So now, I focus on at a minimum for a training course (Full course) at least 1k.
Yes, if you offer parts of that bigger course you can charge segmented prices…
(As an example, I sell my EliteWebinarMastery Foundation Module for 300 by itself. But the full course is 2k.)
For a 1-2k offer. Consider a 3 , 6 or 12 month payment schedule.
Also, consider bonuses based on full price as well as super quality webinar only bonuses.
****To learn more about the 6 steps to a high converting webinar, watch this free workshop. ****
Now, when making an offer from a webinar (direct to sale), at one point after the main content on your webinar, you will begin to transition into making your offer off the webinar. Below are pulled right from my slides on a webinar that converts at 20% when run live. That means. Of the people that come to the workshop, 20% purchase.
Something you should know. First when getting to a pitch and offer point.
Mention the benefits of the benefit first and people who are experiencing results from that benefit. Plus the results someone can achieve from it. This will help to start to bridge into WHAT the investment is. The investment needs its own crafting and justifications.
Such as how long after someone comes into your program will they potentially earn their investment back.
Such as these series of slides…
You need a high ticket webinar funnel. Something that I have coined with my webinar expert friend Jon Schumacher…An evergreen profit center.
Below is what it looks like.
The basics of a high ticket funnel are that much of the funnel is based around qualifying the type of audience that is going to receiving your offer. And in this high ticket funnel, the more your message is in line with the audience, the better you will do once you get these people on the phone.
The offer on a high ticket funnel should take someone to an application or strategy call.
Preferably both. Whether you first take people to an application first or not, it is very important to have it for your own benefit so that you know if someone is worth your time on the phone converting them to a client.
Here the breakdown of the [Evergreen Profit Center Funnel]
The key to a high ticket offer is… LESS IS MORE….
In fact the more intimate and more concise and simple the process the better.
People simply want clarity. They want to know the secrets without all of the fluff.
So often times, doing less than more is key. While at the same time doing it in an ENGAGED way that promotes exciting education and lightning fast implementation.
High ticket should be HIGH TOUCH, ENGAGED, LEVELED UP METHODS FOR EDUCATION and a REQUIRED COMMITMENT AND ACCOUNTABILITY.
And as we use webinars to acquire clients, we also use webinars as a backbone to our TRIBEMINDED system which provides this high touch, leveled up training + accountability.
The ultimate benefit of it is that this method also gives TIME back to you.
As such, if you combine the TribeMinded method for your coaching offer (Which is basically how you fulfill your program), you will close more clients into coaching clients.
This unique system allows you to ALWAYS BE CLOSING people into your program which creates a learning track specific to them.
The problem: Most coaching programs open doors and have to close every so often. Those times when you close your doors for say your 8-week coaching program can mean NO MONEY/REVENUE coming into your business.
The common solution has been: Open the program and close the program every 2 months…and again, that means once you close the program, even if you only have 1 person in, you have to run it. (This is a terrible use of your time.)
The SOLUTION: Our method allows you to both acquire and close people into EVERGREEN high touch programs that work without you being there but still have that high touch experience.
In fact, your total time commitment per week can be as little as 1 hour a week.
This also means there is no ceiling for how many people can be added to your program.
The TribeMinded EVERGREEN COACHING program gives you the ability to create a bigger leveraged impact that brings in more coaching clients more often.
If you want to learn more about our automated booking and fulfillment program designed for coaches/consultants and those in the service industry looking to turn their service into more of a coaching to leverage their time and roll in more clients you can join our streaming workshop all about it.
If you want happy clients, who succeed faster, who are way less of a headache, follow the steps above.
And when creating your offer, follow the above steps.
Comment and let us know what questions you have about what you offer.
And of course…for more on this, join my streaming workshop on this topic.
(PLEASE NOTE: All slide images were taken from my coaching program so that you could get just a simple taste of it.)