One of the prevailing threads of wisdom when it comes to business strategy for coaches, authors and healers is that high end offers are where it’s at.
(I typically think of high end as packages over $3000.)
Strategically, this makes a lot of sense. When you don’t have a large following, you want to earn more per customer acquisition than less… (I’ve ranted about the online courses that teach you to create your online course in the past, love. Do the math… You don’t have to have a degree in finance like I do to know that if you’ve got a list of 1000 people and you’re selling a product that’s $197 or even $497, you’re not going to exactly make a run on the bank).
(If you haven’t read said rants before… here’s the math: 20% of an audience will engage with a launch. Which means 200 people of your 1000 are listening. And you can expect that 5-10% of those people will buy, when you’re selling via online sales mechanisms… webinars, video sales letters, etc). So you can expect about 10-20 buyers from your audience of 1000. And that’s assuming you have an offer that they want, and that converts.)
(How do I know this? I’ve run over $2.5 million dollars of online launches for myself and my clients. And as a marketing consultant and strategist, it’s my job to set realistic expectations for my clients. A launch bears risk. Always. I don’t want anyone needing a launch to hit the jackpot to pay their mortgage. I won’t be able to sleep.)
Ok. Rant over.
This is why high end packages are wonderful. Even with a small audience, you can have meaningful interactions that creating meaningful revenue in your business. One client who enrolls in a $4000 package is far easier to come by then creating 20 people buying your $197 product. A few of those a month, and you’ve got it made: consistent foundational revenue that gives you the ability to invest in a launch from a position of abundance.
So what’s the problem? And, more importantly, what’s the solution?
Well there are three main problems to overcome when it comes to pricing and packaging your services at the high end:
Your own beliefs, experiences and reality with money.
The thing about our beliefs is that we are always looking for evidence to support them. More accurately, our ego and subconscious mind are looking for evidence. “SEE!” the ego says, “Money is hard, and she doesn’t have any either and who are you to ask this poor woman for this kind of investment, just so you can help her.”
Most of us haven’t grown up with a great relationship with money. We’ve been taught all sorts of things about why we should want it, why we shouldn’t want it, that we shouldn’t ask for it, and that we’re not worthy of having it.
When you are on an enrollment call making a high end offer, and you’ve got your own baggage about money… it’s a challenging situation to say the least.
You do what you do to help people, not just help wealthy people.
I’d say 70-80% of the clients I serve do what they do to help people have better lives. From coaches, to healers, to energy workers and shamans, I’ve coached and consulted some highly woo woo and spiritually connected women over the years.
And it creates an inner conflict. We know we must do the thing that we are told gets our needs met, mainly making money… and yet we are pulled to serve from a calling deep within our soul.
In the one size fits all model of high-end packages, we experience intense inner conflict when a person needs our help and must invest a car payment, or in some cases a mortgage payment to get some relief.
Churn and burn vs. Nurture and relate
It’s not necessary to create high pressure, high stakes sales situations. We are in the people business. And there isn’t a better strategy in the people business than nurturing relationships and discovering the YES. (I’ll have more to say about this soon!)
Giving people one way to work with you doesn’t create many avenues for relationships.
I am absolutely, unequivocally NOT saying that there isn’t a place for high end packages in your work with clients. The invitation is to find other ways to work with people that strategically lead your ideal clients to want more.
And to get creative about the ways that you can serve people. It’s your business, babes.
You can do whatever you want.