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Let’s talk about pricing!! As a Christian coach, you want to price yourself to be profitable, but you also want to run a fair business, and feel good about your pricing! If you don’t have an online business that is sustainable, you will not survive long term!
Before we get into that, I want to remind you to register for the two week Set Apart Launch! You will get two weeks of free coaching by me! If you are looking to launch, build, or scale your Holy Spirit online coaching business, this is the perfect challenge for you to join! Don’t wait any longer! We are starting up on Monday, September 25th, so sign up now!
Register for the Set Apart Launch Here!
One of the most common questions I get is “How do I price myself for profit?” It’s incredibly important to have pricing that will allow your business to be sustainable long-term because if you don’t, your dream will die. The problem is, most coaches start out (especially in the Christian world) where they do not want to charge very much – if anything at all. However, when you do everything for free, you tend to get clients who only value free things. It’s so important to price yourself in a way that will bring in the right clients. They will understand your price tag, your value, and what you will be offering.
So let’s talk about what you need in order to price yourself for profit…
DEFINE YOUR USER EXPERIENCE
Diving into the user experience is SO INCREDIBLY IMPORTANT! Having different tiers for incoming and existing clients has given my students the freedom and flexibility to decide what works best for their learning style AND budget, and ultimately, pick a path that makes the most sense for them.
What this looks like in my business is having 3 tier options that include Self-Paced, Group Mentoring, and VIP. Self-Paced is the lowest tier where the pricing is not quite as high, but the work is more DIY and is best suited for the self-motivated clients. Group Mentoring is the middle tier that gives them all the DIY courses, but they also get access to actual coaching and one-to-one help with me. The third tier is a VIP one-to-one tier for those that need the extra support and step-by-step help to get things done.
Each tier allows me to not only price myself for profit, but allows for different options for my clients and allows a unique user experience to emerge, where not everyone has to go down the same path – because we are all different.
PRICING PSYCHOLOGY
There has to be value, and how you communicate it shows that value! Your clients need to know how valuable what you are doing is. You cannot expect your clients to automatically know the value of your service and be ready to enroll without having the information they need to make a purchasing decision. Which is why…
BONUSES SELL! Bonuses are a great way to really highlight the special pieces of your program that people don’t want to miss out on. Plus, if you can have an incredible amount of value at a price that feels like the customer is truly getting a heck of an opportunity, then you can’t go wrong.
Consider the ice cream sundae. If you get one with your regular dinner out it may be a simple scoop of ice cream with a little chocolate syrup (if you’re lucky). But to be something special, you want not only the ice cream and chocolate syrup, but the banana, sprinkles, whipped cream, m&m’s, cherry on top…. AND all of the yummy extras! Your offer is the same. If you’re giving them just the basics, that is BORING. And people don’t buy boring things.
HIGH-TICKET VS. LOW-TICKET
Deciding whether or not you are going to sell a high-ticket or low-ticket program will actually make the most difference in regards to what you are selling. While there are a lot of opinions out there about high-ticket vs. low-ticket, I always recommend starting with a high-ticket program (which would be at least $1-2k), because it’s much harder to sell a higher quantity of something than a lower quantity.
Plus, the reality is, it takes just as much energy to sell a low-ticket program as a high-ticket program, which ultimately means the more sustainable path would be to focus more of your energy on selling high-ticket.
Think about how many hours you are actually going to be working and if the price is worth it! You want a good return on those hours, right? That doesn’t mean you have to start charging a ridiculous amount at the beginning, but once again examine if you are pricing yourself in a way that is profitable and sustainable, or leading to burnout and exhaustion.
A lot of times, new coaches think they want to start in the realm of course-creation, but to create a profitable and sustainable business, coaching is the way to go. The reason is, courses will not sell that much until you have a larger audience. Plus, as you coach your clients through the transformation you begin to understand their common struggles, hangups, and those repeated questions that help you to better serve your current and future students. This is why high ticket items are the way to start building your coaching business. This will build something sustainable where you can then move into courses vs. coaching. However, this comes after building the perfection of the coaching process and building sustainability over a period of time.
So as a reminder, you don’t want to miss the Set-Apart Launch!! You will learn so much and your life will be changed! Just the testimonies alone that have come out of this time are so incredible! I am always so blessed through this event. Don’t forget it starts next week!
Oh, and the Facebook group is already open so come have this experience of a lifetime with us! You will get SO MUCH VALUE out of these two weeks!
EPISODE LINKS
The Set Apart Launch is back! Come join us for two weeks of live training. You will receive SO much great information for building your Christian coaching business. You will not want to miss this. Let me teach you what I have learned and encourage you to step into your God designed plan. We are starting on September 25th, So Sign Up Here Now!
Grab my guide, The Holy-Spirit Led Coaches Guide to Hitting Your First $100K in the Next 12 Months in Your Coaching Business! If you are struggling in your business, you haven’t launched yet, you aren’t sure where to start, or just stuck in the hamster wheel of posting on social media with no results, you need a roadmap! You need to know how to hit $100K in the next 12 months. I’m spilling all my secrets from building my own businesses, and providing you behind-the-scenes info about revenue, plus my proven 5-Phase Plan to help you get started!
Click here for info about my FREE Masterclass: Recession-Proof Online Business – Build Your Business Around You God-Given Calling! Learn how to shut down the fear and claim the faith while booking out and building your God-Given online coaching or course based business in the next 90 days! Just starting out or ready to scale? You don’t want to miss this free class!
Grab The Productivity Playbook! Designed to help you build your online business in only 20 minutes a day, now is a great time to get your year started off with the right habits! Businesses are built on habits – without good ones, your business will probably suffer. This is your go-to guide to help you sit down at your desk and know what you are working on each day. From daily tasks to content planning to organizing your team, this playbook will help walk you through where to focus and what to focus on. Click here to get your business organized for 2023!
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