Should we put prices for our high-value services on our website? Or should we only reveal them when we make an offer?
At night, the Siberian Wood Frog freezes solid but does not die.
When most animals freeze, ice crystals form in their bodies, which slice through their cells and tissues like daggers, killing them. But not the Wood Frog. Why? It has high levels of glucose and urea in its blood, which prevents ice crystals from growing. So when morning comes, and the temperature rises, the Wood Frog thaws out and hops around as if nothing happened.
Most frogs prevent themselves from freezing to death by living much further south than the Siberian Wood Frog. We can prevent our potential clients from freezing up when they see our offers by omitting prices from our websites and brochures. But then what do we do to make sure clients are willing to pay our premium fees?
We do that with three ideas:
- Presenting a price after a personal selling process
- Guiding your clients to the right package for them
- Knowing what to say when they ask for a price upfront
1. High-Price Offers Require a Personal Selling Process
Why? Because people often don’t see the value of our offers until we connect our services to their needs. One coach I know helps busy professionals lower their stress. In his program, one module has to do with developing stress-reducing habits.
When he describes the habit module to potential clients on a discovery call, he speaks to specific needs he uncovered earlier In the call.
If they have poor sleeping habits, he can talk about how that module will help them develop better sleeping habits, which lower stress. If they don’t have exercise built into their days, he talks about how his program helps them form exercise habits, which make people bounce back from stress more quickly. He expertly calibrates his examples for each person with whom he speaks.
Unfortunately, our websites can’t yet read minds and adjust copy to each client that comes along. That’s why we need to get our clients on a call. A conversation allows us to forge a connection between our offers and their needs.
If this stress coach were to merely list packages and offers on his website, many of his potential clients would walk away without looking further, because no webpage can help visitors make such specific connections to their needs.
2. Many Clients Need Our Guidance to Choose the Right Package for Them
When Apple was on the brink of failure in the ’90s, Steve Jobs took over as temporary CEO. One of his first acts was to reduce the number of products Apple sold by 70%. He did this because all the choices confused customers. They couldn’t figure out what to buy, and so some potential customers didn’t buy at all.
As a coach, you may only have one offer, or you may have 15. However, it’s unlikely that your potential clients can tell what they need most from you. If they are confused, then like Apple’s customers in the 90’s, they won’t buy at all or even call you. That’s one reason we do discovery calls. We educate our potential clients and guide them to the right offers for them.
One business owner who had a social media business said she already had two of the five skills that I teach in my Leveraged Offer program. If she were reading copy, she may have turned away thinking that she shouldn’t buy into my program since she knew some of what it teaches. But because she was speaking to me, I could coach her a bit at this point.
“It’s wonderful that you have these skills. Now, what kind of results have they been getting you?” Her results were mediocre. It turned out that even though she had some of these skills, she wasn’t using them consistently and strategically.
I was able to show her that I can help her deploy those skills far more effectively. Sales copy couldn’t do that. Personal guidance was necessary for her to make an effective decision.
3. What to Say When They Ask for a Price Upfront
When potential clients ask for our fees upfront, this puts us in an awkward position. They don’t know the value we deliver. They may not know how much coaching is supposed to cost. If we give them a fee list, they may turn away just as quickly as they would if they saw our fees on a website.
So what do we do?
We give them good reasons why we shouldn’t reveal a price, and we make a request of them instead.
Not sure what to say? You can use the following, which I learned from Pamela Bruner, who is herself a fabulous coach.
“I’m not the most expensive, and I’m not cheap either. I have several offerings, and I don’t want to mislead you by quoting a price for something that may not fit your needs. The best thing for us to do is to get on a discovery call in which I can recommend something that can work for you.”
The person either decides to sign up for a discovery call with you or not. If they do, they are already a bit prepared for a high but not exorbitant price.
However, What if You Often Have People on Discovery Calls Who Aren’t Prepared to Invest the Kind of Fees You Charge?
That’s an understandable concern, since each discovery call with someone who can’t or won’t spend as much as you charge, takes time away from doing something else more valuable.
My solution is always to have the client fill out a brief questionnaire before a call. Ask how much they are willing to invest to achieve their desired results. If they don’t answer or put down a low number, you can decline to schedule the call or be extra prepared for price objections.
For my clients who don’t feel this question is appropriate, I have them ask how much their potential clients have already invested. Either question helps reveal if the person is willing to pay money for results.
Summary
- Present prices after a personal selling process (e.g., discovery calls).
- Give your potential clients guidance as to what package they need from you.
- If your potential clients ask for a price upfront, let them know you need to get them on a discovery call to make a recommendation.
- Have potential clients fill out a survey to ensure they are ready to invest.
To keep your clients from turning away from your offers prematurely, avoid listing your high prices. Instead, warmly invite them to a call with you to discuss their needs and how you can help fulfill them.
Your Next Step
There’s another element that’s required to get clients to pay high fees. You need to have an offer that is worth far more than what the client pays. How do you design such an offer? If you get on a Biz Accelerator call with me, I can show you five principles that help you create an offer for which you can confidently charge high fees. To book a call with me, click here.
