Too low you worry about attracting less than ideal clients. Too high you worry about pricing yourself out of the market.
You see others in your industry offering a “happiness guarantee” and promising refunds.
You know that won’t work for you because you need to use the money from your clients straight away.
You have No Contingency Fund
I’ve been there, where everything that comes in has to go right back out again.
It’s not pretty.
It feels like the proverbial catch 22…whichever route you take you run the risk of getting it “wrong”.
Have you thought of applying a risk free pricing strategy?
It’s what I use and what I teach my clients to use, especially when it comes to pricing at the higher-end.
Let me walk you through it. First I’ll give you the steps, then I’ll show you two worked examples of how to apply it in your business
- Step 1 Make a list of your current/future packages and their prices
- Step 2 Make a tangible connection between the investment needed to working with you and the result you provide
- Step 3 Use that connection in your sales copy
Example 1 – 1 Day Intensives are currently offered at £2497.
Clients have used the 1 Day Intensive to
- Create your 1st 2 packages if you are just starting out. These packages are (usually) priced at £297 and £997. You also leave the day with a step-by –step plan to go out and start selling these packages.
- Create 1 High-end package to be offered at a minimum of £2500 also with a step-by-step marketing plan to attract high-end clients
- Re-package a current high-end offer that is not selling well.
In all three options it is easy to see how you can recoup your initial investment.
And I use that in my sales copy.
To make it even easier for you to apply this in your business , download and print this worksheet with the 2nd example (using a fitness business), to help you lay it all out.
This is not about justifying prices. It is about meeting your clients where they are and showing them the value of working with you. It is also REALLY helpful if clients are using funds out of “the family pot”.
Benefits of Risk Free Pricing
- Clients come to you “pre- sold” meaning you will have a higher conversion rate on sales calls
- Clients will say yes and not change their mind because they can easily see the value of working with you
Let me know how you get on applying the Risk Free Pricing Strategy.