Video summary
The video addresses a common fear among coaches regarding when and how to increase their pricing, using a specific client's hesitation as a starting point. The speaker argues that the primary reason for this fear is not the act of raising prices itself, but rather the underlying anxiety about having an insufficient pool of potential clients to sell to. To overcome this psychological barrier, the first crucial step is to significantly intensify marketing efforts within a short timeframe. By aggressively driving interest and securing multiple calls, a coach eliminates the risk of rejection on any single opportunity, knowing they have other prospects lined up. This shift in mindset transforms the sales process from a high-stakes gamble into a manageable workflow where the fear of losing money due to lack of demand is effectively neutralized.
Once a steady stream of interested leads is established through robust marketing, the second step involves refining the sales conversation to be calm, simple, and highly personalized. The speaker observes that many coaches fail when raising prices because they focus too much on listing features and bells and whistles rather than connecting their offer directly to the specific pain points and needs of the parent or client. By tailoring the pitch to demonstrate a customized solution, the coach creates a perception of high value that justifies a premium price point. This approach ensures that the business owner is not chasing clients who are unwilling to pay, but rather attracting those who recognize the unique fit and are ready to invest in a superior service, thereby removing the exhausting dynamic of constant persuasion.
The conclusion presented is that there is always room to increase prices significantly, often by between $500 and $2,500, provided the coach is willing to face rejection and execute the previous two steps correctly. The speaker asserts that this outcome is achievable immediately, suggesting that coaches can simply use their phones to create new offers on social media platforms like Instagram stories to generate interest and book calls. Ultimately, raising prices is not just about changing a number but about adopting a professional marketing mindset and delivering a personalized experience that commands respect and higher fees. The video ends with an invitation for those seeking deeper guidance to book a call, emphasizing that the ability to charge more is directly linked to one's willingness to market harder and sell with confidence.
Read the full video transcript
All right, I'm gonna be doing a lot of
videos like this coming up. I'm going to
go straight into this. So, a coach asked
me this morning. He said, "Hey, when is
the perfect moment for me to raise my
pricing?" And he went on to elaborate
and talk about how he hasn't raised his
pricing in a couple of years. And he
went on to explain what he's afraid
about and why he thinks it's not going
to work. And here's the thing, I try to
be as direct as humanly possible with my
clients, the coaches that I work with.
If you've seen any of the results that I
post throughout the year on this
channel, those coaches will go do what I
tell them to do. They're not going to
just like listen and then not go
execute. They're just going to go do it.
This coach that asked me this morning is
a client of mine. What I told him is
exactly what I would be telling you if
you asked me this question. And I gave
him three simple steps. And if you
execute these three simple steps today,
you're going to be able to raise your
prices in the next literally 10 minutes
from now. First, what we need to
understand is the reason why you're so
afraid to raise pricing is because you
don't have a lot of people to sell to.
This makes perfect logical sense to me.
If you have a lot of people to sell to,
then you're less afraid of rejection. If
you don't have a lot of people to sell
to, then you're going to be more afraid
of rejection. And so the first step is
however hard you think you're marketing,
I can assure you there's a completely
different level of marketing that you
have not experienced yet. And that
solves the problem of being afraid to be
rejected. Because if you market harder
in a short period of time, you can drive
way more interest to your offer and you
can then test a new price without
feeling like, oh, you know, if they
don't buy this, then I'm going to lose
money. Because the reality is, if you
really lock in and and put your foot to
the gas pedal, you could drive eight to
10 people to get on a call with you
today if you wanted, if you really
really wanted to. Most coaches will
never reach that type of potential in
their business because they don't truly
wrap their arms around marketing. They
kind of just wait. They do word of mouth
and they're just they're just kind of
going through the motions. They don't
they don't treat that professionally. So
the first step is market harder within a
shorter window of time. That eliminates
all of the fear of not being able to
have enough people to sell this to. And
it it removes the fear of rejection
because if you talk to someone right now
and you know you have another call
scheduled in 20 minutes from now with
someone who's interested in your
service, you're not going to have all
your eggs in one basket on that call.
You're going to know I'm not needing
them to join because I have somebody
else that's getting on a call with me
later. That's the first step. Okay, the
second step, and this is only for
coaches that can do the first step, is
when you actually sell, you need to be
able to do it in a really calm and
simple way. Because if you're trying to
raise your price, most of the time, what
I've seen with coaches is they talk too
much about the offer. They talk too much
about what's included. They're not
talking directly to the prospect about
what they need. They're just talking
about what's included, all the bells and
whistles. To some degree, yeah, you need
to do some of that, but you need to tie
back in what you're offering to the pain
point of the prospect and what they
actually need. And that makes it
drastically easier when you raise your
price point because it feels like you're
customizing this offer back to the
parent that you're speaking with versus
just saying, "We have one session per
week. We have this. We have this." And
if it looks too cookie cutter, it
doesn't feel good on the receiving side
as the parent. They need to really
experience on the call with you that
this is more personalized. That helps
them understand, okay, you know what,
this is the right fit and we will pay a
premium for this because parents are
either going to do it or they're not.
You're not going to get clients who pay
you that are going to be in the middle.
And you don't want to be in a spot where
you have to really persuade somebody or
convince them to to pay you. That is not
a good spot to be in as a business owner
because it feels like you're always
chasing. I wouldn't want to run a
business where I'm just chasing people
to give me money. That would not be an
enjoyable business and honestly, you
wouldn't last in business a very long
time if that's what's happening. Okay.
So, the second step is if you're doing a
better job with marketing, you have more
reps, you have less to worry about with
rejection, you have more people on your
sales calendar. Then the second step is
we have a structured simple conversation
and we tie back what your program is
back towards the need of the customer.
The last thing, this can only happen if
you do the first two things correct.
Whatever you're charging right now, I
can assure you because I have done this
thousands of times with coaches.
Whatever you're charging right now, I
don't care what that number is. I am
certain that you have at least between
$500 and $2,500 that you could add to
whatever you're charging right now. So,
if you're charging $500 for 3 months of
training, you could charge $1,000 for 3
months. If you're charging $2,500 for 12
months, there's room to charge $5,000
for 12 months. This all comes down to a
couple of factors. Are you willing to
command a higher price point? Are you
willing to face the rejection? Are you
willing to have some people tell you no?
No, it's too it's too expensive, coach.
Or no, like we don't want this. Are you
willing to do that? But you got to be
able to understand there's room to move
your pricing. And that is all possible
when we market harder. We have a more
simple and structured way of explaining
what your offer is to the parents and
you're willing to increase the price
from where you are right now to where
you want to be. The good news is if
you're watching this right now, I'm
looking at my computer. It's August
17th. It's 3:23 p.m. Central time.
Literally in the next 5 10 minutes, you
could raise your price because you can
just pull out your phone. And there's
enough coaches that I work with that do
this. They pull out their phone, they go
into Instagram, and they create an
offer. Just you do it on your stories.
You go create an offer. You get a lot of
people interested. You book those calls
and then you have a structured
conversation and you have a higher price
point and you see how this goes for
yourself. And if you've watched this,
you want like actual coaching behind all
of this. Meaning like I'm going to watch
your sales calls. I'm going to show you
where you're messing up. I'm going to
show you how you could instead of losing
a $3,000 sale, how you could get the
$3,000 sale or how to charge an extreme
amount for your training service. If
that's you, if you truly want help with
that, go below here, go book a call with
me. I would love to chat with you about
you, your situation, your business, and
where I can help you raise the price.
That's it. Have a blessed day. See you
later.