I don’t mean to sound too excited but this is my favourite topic EVER! I wanna share with you not only a little about sales and pricing psychology but actual sales strategies that will help you book your dream clients and sell out your online programmes.
Pricing Psychology
Firstly let me just run you through a quick recap of how I understand and use pricing psychology. I tend to work in a hierarchy of service, this means that your services go from a large amount of generic content, such as social media posts and free content, all the way up to the highly individualised content, which are your high ticket services.
This is because money is energy! The amount of money you then charge for a service should be in line with the amount of energy you put into a service. So, for example, a 1:1 coaching client will gain a far more individualised experience which takes more energy and time from you, than someone who follows your Instagram and benefits from your free social media posts. I break this down in my blog post on hierarchy of service.
But remember! This is all dependent on your ideal client. If your ideal client is at the start of their business journey, has less money to invest right now, or less free time, such as mothers or those with full-time jobs, then you will struggle to sell those high ticket items that are more time consuming and intense.
Instead, you would be better off focusing on what would be a valuable service to your client! Maybe a workbook that they can work around their own time? or perhaps holding your workshops in the evening instead of during the day? There’s no one way to price your services, but your services must be priced exactly for your ideal client.
1 - Talking to pain points
Ok, let’s get into some sale strategies! So when I’m talking to a potential client, you want them to know that you understand them. If I was to sit here and say ‘you are a woman in your thirties who wants to start a coaching business and you live in the UK’, the likelihood of someone finding that a solid reason for working with me is pretty damn slim.
However, if I say ‘You are working but are nowhere near where you want to be in terms of income and impact’ you are much more likely to see the benefit of my services. If you can go out and do some market research, listen to your ideal clients, and what they need, then you have instantly got that insider knowledge of how to approach clients and show the value of your services!
2 - Get your leads to self-qualify
Sales strategy number 2: get your leads to self-qualify. So leads are the people you want to work with, they fit into your ideal client folder and have maybe even interacted with you a little already. Now, what you reeeeally want is for people to self qualify themselves as a lead!
So when you are putting out a new service, make sure you include who that service will be most valuable for. This service will be perfect for you if you are: starting out a new business venture, struggle with imposter syndrome, need to access new clients, whatever it is, let people know it’s for them!
Want more leads and want to know HOW to get them? Join the waitlist for Let’s Get Leads, my new programme coming September 2020. Just so you know, waitlisters get incredible special gifts and bonuses you will not want to miss out on (including the ability to work with me 1:1 for FREE)!
3 - Discovery calls
Before you sell, you have to create real bonds with your ideal clients, people need to know, like, and trust you before they will consider buying from you. Make it clear on these calls what it is that you are selling, how it will benefit the client, and why they are the right fit.
This is a great chance to create some chemistry and rapport with them! It’s also important to make sure that both you and them know this is NOT a free coaching call, but rather an opportunity for them to find out more about you and your services.
4 - 1:1 Tripwire calls
A tripwire is a small ‘token’ amount that means someone has purchased from you for the first time. This is usually a ‘no-brainer’ amount that someone can pay without having to think too hard about the investment. The reason this works is based on the psychological principle that if people buy once they are more likely to buy again.
At the end of this initial call, if it feels like a good fit, you can then offer them any programmes and packages that you have that you believe to be a good fit for them! Not only will they be more likely to invest as they have already had a monetary transaction, but also because they have been able to interact with your services on a more deep and meaningful level.
5 - Prizes
I am seriously the queen of prizes- I mean who doesn’t like prizes, right?! This is also great for you, as it allows you to give back in a bigger way through your work, and generate massive wins in your business, win, win!
Prizes are also great for boosting engagement, getting people on discovery calls, growing your audience, adding urgency to your offers, and much, much more. Offering prizes allows you to be of more service, whilst also, in turn, incentivising your clients to invest more into you and your business. It’s fun for all the family!
For more on sales strategies, check out my Soulful Challenge Bundle where I have a whole module on sales strategies, along with other ways to help you go from struggling for sales, to fully booked with dream clients!