Listen To My Latest Podcast Episode:
NOW LIVE! Podcast Episode 426: Day 9: How my Competitor Made Me $$$!
Listen To My Latest Podcast Episode:NOW LIVE! Podcast Episode 426: Day 9: How my Competitor Made Me $$$!
Question: How do I attract high paying clients?
Answer: Raise your prices!
Personally I have been able to sell $14-20,000 packages in coaching and consulting and I am still constantly looking for ways I can increase my own prices. If you are truly interested in learning how to attract higher paying clients, I would like to propose that maybe you’re less interested in a secret formula and more interested in getting permission to charge more for your product. If this is the case, consider the permission granted!
Watch on YouTube: http://www.youtube.com/watch?v=i8bvH2gRDVQ
Telling you to raise your prices is one thing, but actually raising them takes guts! You may fear that changing your prices could lead to rejection from your customers, however, higher prices tend to attract higher quality customers. Those higher quality customers are exactly what we should all strive towards, they remind us why we decided to do what we do in the first place.
You won’t find these quality customers shopping at the dollar store or slumming around the internet looking for the cheapest deals. No! These customers are looking for the best and are willing to pay to get it!
After raising your prices, step number two would be finding out what the higher paying clients want, and giving it to them. There are a few key qualities each higher paying customer has:
We can all agree that offering our coaching, services, or products at a premium price must deliver an outcome that saves our clients time and focuses on topics that will have lasting results for them.
Even though simply raising your prices will attract a higher paying audience, you may also want to tweak your offer. For years I have been teaching business owners all about youtube and online video. If I wanted to attract a do-it-yourselfer I could package all my information into a digital course and sell it anywhere from $100-$500. At that next level I could offer oneon-one consulting or coaching and charge anywhere from $200-$1,000 an hour. At this second level I am still attracting a do-it-yourselfer, however I am attracting one who learns fast and wants the information straight from the source. Another option I could choose would be offering a “done- for-you” service, which I could price anywhere between $300-$2,000 a month, where I would manage my clients accounts or make videos for them. This option attracts successful and busy business owners who don’t have time to learn how to do these things but want them done now.
Finally, I could create a customized youtube strategy or game plan for a large company or organization and charge anywhere from $10-20,000 or more. All of these offerings revolved around one skill, youtube, and as the prices went up the packages evolved to provide more value but not necessarily more of my time.
This example illustrates how you can combine raising your prices and tweaking your product to produce a package which appeals to higher paying customers. This may still leave you wondering how you are supposed to get in front of these types of clients, or more importantly, how to get them in front of you.
I will leave you with this, all of these examples I have provided have been things I have actually done or have been offered over my eight year business career. I haven’t been going door-to-door or cold calling people, in fact I hate selling. These opportunities have all fallen easily into my lap because years ago I decided to create content that provided value on my youtube channel. My free training videos opened up a door for creating a prospect list and attracting people who had to practically beg to pay me money. I suggest using the internet to build a platform first, you must develop a way to invest in your audience before they ever invest in you.
You have a choice to make: do you continue to under-value yourself and charge low prices which attract customers who drive you crazy and cause you to scramble for that next low cost idea, or, do you take the leap and raise your prices which will lead to attracting your dream clients?
If you have a commitment to provide extraordinary service to your clients, I give you full permission to raise your prices and confidently go forth into the market place.
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