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/ @luisazhou
If you want to price your coaching packages so they sell like crazy, it’s important to
understand something about consumer psychology and pricing.
Here’s the thing - it’s not actually about the pricing.
Think about when you buy a shirt. If it were super expensive you probably wouldn’t
buy it. But if it’s within your budget, as long as you like it, you’re not going to quibble
about the price.
As long as it’s in your price range, then what’s most important is the VALUE that you
get from it. The same holds true for your coaching services.
Here’s an example that may help illustrate this point about consumer psychology
and pricing.
A new student of mine was having trouble selling her packages priced at 500, 700,
and 1400 dollars. She’d gotten a few clients over the years but not very many. After I
helped her to focus on the value she provides her customers rather than the price,
she was able to sell her three-month package to a client for 2000 dollars.
The reason why her three coaching packages weren’t selling is most likely because
her prices were too close together. The difference between 500 and 700 is not very
much in this context.
It doesn’t actually matter if you offer the customer 500 instead of 700 dollars for a
package. What matters is the value that you can deliver.
I suggest that my students start out with 1500-dollar coaching packages. Later on
you can go deeper into the consumer psychology and pricing in order to further
optimize the price, but in the beginning you’re mostly looking to figure out how to
make a sale.
So, don’t get hung up on pricing. Rather, deliver high-quality value so that whatever
price you chose will be worth it.