Attracting more clients is nice, isn’t it? Problems can develop however when you have too many “low-end” clients without enough “high-end” clients. In fact, it can be pretty easy to fill your days working with people who’ve purchased one of your entry-level programs, clogging your schedule and making it difficult to find the time for clients who are willing to pay more for your premium programs.
When that happens, it’s time to work smarter, not harder.
I was once told a story by a retail salesman that clearly outlines this idea… Two men were working together in a mattress store. Both were high volume sales professionals, though they differed greatly in their approaches.
Salesman A was a real go-getter, selling five or six sets a day, while Salesman B sold just two or three. So, how could “B” perform at such a high level? He sold a higher-end product, of course. While his associate was breaking his back to sell five queen-sized mattress sets at $700 each, our Salesman B was working to sell mattress sets that retailed at $1500 or more.
Since this is the real world, both of our retail pros sold a mix of goods which brought their averages down but, the results were clear and somewhat staggering: Salesman A averaged $450 per sale, while Salesman B averaged $750 per sale, a 40% higher average price per sale. Who do you think the boss loved?
This is a clear example of “Working smarter, not harder” but, what I think is most interesting is the answer to this question: “Why?” Why did “A” focus almost exclusively on the low-end of the product line, even with the example of “B” to follow?
Salesman B did not believe in his product enough to focus on the high end. He did not believe that any mattress was worth that kind of price! And, because of that lack of belief, a lack of belief in the value of what he was selling and which defined him as a salesman, he was forced to work harder than his associate to earn a comparable income!
Believe in Your Own Value
Believing that what you have to offer has real value is the first step toward booking more premium coaching program sales. Beyond that, believing that you also offer value, because of who you are and what you bring to the table as a coach will give you the confidence you need to ask for – no demand – a Premium Price for a Premium Program.
Yes, believe in your programs, but – believe in yourself first!
With all of that in mind, here are the 5 Strategies to Sell Out Your Premium Coaching Program:
- Get Over Yourself – I don’t want to sound harsh but if you do not believe your programs are worth more, you will not attract clients who are willing to pay more. Even more critical, if you don’t believe that YOU are worth more, neither will your clients. You may not be aware of what your subconscious mind is saying to you below the surface but, if you’re having trouble finding high-end clients to work with, you are likely being held back on a subconscious level by your own limiting beliefs. It’s time to set those beliefs aside and get to work – with clients who are willing to pay a premium for your programs!
- Offer Solution-based Programs – The best programs are loaded with benefits; solutions to the pain points that your clients are struggling to overcome. You must define their expected results for them, in very specific, measurable terms that will clearly lead to relief from the challenges they’re facing. Few people will pay a premium to “feel better”. High-end clients want actionable steps that will lead to positive outcomes.
- Load-up the Value – No one wants to feel they’ve been taken. By definition, a premium program offers MORE: more benefits, more solutions, more support, more stuff! Whatever you may offer in your less expensive programs, do not make the mistake of simply compiling them into a single program for which you charge a “Premium Price”. In other words, cheap + cheap + cheap does NOT = Premium! Your clients are smarter than that. Instead, make sure that when they pay you a Premium Price they receive a Premium Service – with high-value features, benefits, and solutions they cannot receive from you in any other program.
- Define Your Ideal Client – In a perfect world, who would be the client you would most like to work with? It goes without saying that limiting who you will work with too much is going to cost you some business. However, trying to be all things to all people will do the same thing, because your message will be scattered and unclear to those who can really use your help – and will be willing to pay you for it. Once you clarify who your audience is, the clarity of your message will naturally follow.
- Target Your Marketing – It’s a simple fact of life that not everyone who comes to your website will be willing or able to afford your highest value program, which makes marketing to them a waste of valuable time, energy, and effort. Instead, be conscious of who your newly-defined Ideal Client is, and focus your marketing strategy exclusively on them, using emails and a targeted landing page that speaks to their wants and needs; their pain points and your solutions.
Taking your coaching business to the next level is not something that happens by accident. You need a strategy for success, a template for implementation, and a powerful belief in your programs and yourself.