If you have been working with clients for very long, then you have experienced some of the problems and frustrations that I am going to talk about here.
I think you can associate, they don’t show up for appointments, cancel, don’t do the work….the truth is, they don’t value the time with you the way that they should.
There is 1 thing you can do to change this and insure that your clients are engaged and value their time.
The secret?
Raise your prices! Yep, that is right, raise your prices.
This is the one secret to get more valuable and ideal clients for your business as well.
Not only will you step out of the “price shopping arena” – you will be valued for what you offer and the client will respect the time spent with you. They’re commitment is higher and they get results. That is what we all want.
When you work with these people, they are easy to work with.
Higher prices that are published attract more affluent clients.
When I was looking for a coach, I looked at the prices.
There was one that cost $500 an hour and another that was $3800. Return on my investment was more important to me than the dollar amount that I was spending. Value and my return on investment is much more important to me than saving money on the initial cost. Does that make sense? If I can reach higher results by spending more money…that is what I would do.
In business…the bottom line is the bottom line. In health…it is the same story.
It doesn’t always mean that they are worth that much…that will be your job…if you are charging higher prices – be sure you deliver!
Let me know what you think below! Share this with your friends.
Try it!
Cathy such GREAT advice! Sharing all over the place. A lot of my clients are taking a look at this issue for the new year, so the timing is perfect. THANKS.
WOW Karen!! Great post!! That’s a lot of wisdom in a small number of words! YOU NAILED IT!! Skin in the game, right? Thank you for this! You hit on the topic I’ve most been struggling with!
WOW Cathy!! Great post!! That’s a lot of wisdom in a small number of words! YOU NAILED IT!! Skin in the game, right? Thank you for this! You hit on the topic I’ve most been struggling with!
In my earliest days of freelancing someone gave me this advice. Priceless!
I love this, Cathy! I couldn’t agree more- I charge quite a bit and when I’m looking for help, I look for the “premium” priced people to work with.
I flip flop on the idea of publishing my prices though. Do you recommend always publishing them?
Thank you for sharing!
Yup. And this could apply to any field (service- or product-based). I used to work at a non-profit art school. We had an old Chinese tai chi teacher on the board who kept telling us we’d have better enrollment if we raised the prices.
I’ve just embraced this for myself – curious to see how my prospective clients handle it (not to mention how I handle it!). One thing I’ve noticed with this mindset shift: I have the urge to pay my own practitioners more than they charge, because the value they give far outweighs the cost.
Not only will you step out of the “price shopping arena” That line really resonates for me.
So simple, yet so true! Thanks for the great advice!
Agreed!! I have been a Virtual Assistant for Health and Wellness Coaches since 2007. In my experience I can confirm that the coaches that charge the higher dollar value are the ones that are known and seen as the reputable coaches. They are the ones that succeed. Why charge less when you can make more? Think of it this way: If you have a good reputation and ongoing client base you will charge a higher dollar amount. If you charge less people with think that you are not valuable and not doing well in business or just a start up that doesn’t have enough experience. The picture you paint shows what you are worth. Charge more so you look reputable and as an expert and can work less. That is what success is all about. Now the price you charge is not the only item needed to paint your picture of success. You need a great online presence. You dont want to look cheap and you don’t want your branding to scream start up either!
Yes, I say this goes along with Law of Attraction. I feel I am worth it. As a Holistic Life Coach who helps persons with soul work, I promote aiming high!
I recently doubled the tuition for my teacher training. Year one, provided a lot of feedback and allowed for troubleshooting, market research and such. Going into year two, I am armed with knowing how truly valuable and impactful the training is, how it is changing lives and providing real benefit. Your blog helped me remember that those who are deeply committed to creating real positive change in their lives and the lives of others, will be drawn to my program. They will see the content, feel the message and decide to commit – or not. Thank you for this swift and to the post blog post. It’s the message I needed to hear – again. Dancing Forward!
Yep! One of the things I noticed when I doubled my prices is that I upped my game. Big time! I was doing a great job before I raised my prices. But then after, I did an even better job. That price thing works on both sides.
This is absolutely true. I have experienced this is in the beauty industry as I raised my prices, I attracted more loyal and committed clients. I haven’t quite crossed this over into my new career as a speaker. I realize that what is directly related is my confidence and experience. Before I raised my prices as a cosmetologist, I was completely confident in my ability to deliver top notch and quality service. Even though I know that I am a awesometagious speaker, I belief deep down I have not completely accepted that as an absolute fact. I am getting there. This is the kind of post to bring up my *ish and push me out of the comfort zone. Boom!
As a consumer of services I totally agree. If the price is too low, I get very skeptical. Do they even know what they are doing? What will I actually get for that price? Is it worth my time?
That said, it is an upper limit for me, and if the price is waaaay over my budget I probably think the person is a jerk for having so high thoughts about him/herself, he he. Good for them, though!
When I see people (especially women)who do great work, but don’t charge enough I always tell them to rise their price. No other way to a more equal society!
Thanks Cathy. Great post. Totally agree.
Cathy you couldn’t be more right! It can be a hard concept to grasp, but when we raise our prices we only attract the clients that value their health and they achieve a higher level of success and feeling of accomplishment. It does mean we have to show up, but it is so much more fun to work with higher paying clients.
This post came right at the right time, Cathy! Such valuable information! Thank you!