It’s really tricky for lots of folks to figure out the pricing of their offers. And then they keep second-guessing their own prices (especially if they’re not getting enough clients).
I would suggest you look at it from the client’s perspective: What is the service worth? What is actually the value of that service? Which is a radically different approach from “hourly rates”.
It’s so easy to multiply the price of your single sessions by the number of sessions or consults you are putting into an offer. You might be following “industry standards” but you can never leverage your time like that and you might as well have been an employee.
How can we look at this from the client’s perspective? From a client’s point of view, you would have to look at EXPENSES SAVED or INCREASED INCOME.
For therapists and coaches who work with private clients (not business owners), expenses saved and increased life quality will be their best value points. Most B2B programs will often have more focus on INCREASED INCOME, but sometimes that’s about (business) expenses saved as well.
Let’s say a person has been seeing a therapist about some trauma for two years. In the big picture of things, it hasn’t really helped her… I mean, she did find some solace in the sessions, but it didn’t make her feel better more than one or two weeks at a time and so she had to continue seeing the therapist. Who charges $80/hour.
This is the client’s “Point A”
She then found a specialized therapist who took her on as a client. After 6 weeks and a total of three sessions, the client never had serious issues with that particular trauma ever again. She completely healed that wound.
This is the client’s “Point B”
Now, what is the value of the second therapy program? Obviously at least what she already paid the first therapist, let’s say 15 sessions a year for two years = $2,400. Plus, the value of feeling good again which is hard to put a number on.
Let’s say you are a couple’s counselor and you successfully help married couples connect back to each other and their love. Most of the couples you work with stay together instead of getting a divorce. In this case, the most monetary value is made in expenses saved by avoiding divorce. Which is super costly.
Legal counsel, split households, transportation of kids between parents – double expenses towards kitchen utensils, furniture, holidays and so much more. You easily get to $10K in extra expenses in the first year, depending on your circumstances, right? So paying anything less than that for a successful marriage counseling program is a win. And we’re not even talking about the human cost to the couple or the kids.
So let’s say you build websites. What is the value of a website? It depends on a lot of factors, including who the website is for and what other things they have going for them. Let’s say one client has built two online courses, one is a smaller, free lead generating course ending by inviting the student into a bigger, paid course. The client is ready to run ads to the free course, but it is hosted on a very old-fashioned website.
Then you come in. You rebuild the website from scratch, including impeccable branding, top-notch copy complying with all the best conversion practices. Now, the ads are suddenly converting 50% more, making not 200 but 400 people sign up for the free course every month without increaseíng ad spend.
The client is then converting 5% of the course students into the paid course selling at $1997. So instead of making 10 sales a month, your client is making 20 sales. In this scenario, having a new website meant 20K more income every month.
I admit these numbers are completely fabricated. But they’re here to illustrate how to look at “value” from a client’s point of view. And as you can see, everything hinges on KNOWING WHO YOUR CLIENT IS.
I’m not saying you shouldn’t work with different types of clients. But they will probably get different value from any one program. (Or you could make different programs that match your different client types).
All of this is one of the things my clients get really clear on in my 6-week intensive 1:1 coaching program. First, we take a good hard look at their program, pricing, and ideal client. Make it all fit perfectly well together.
Then, we look at how they can find and communicate to their ideal client type people in an honest, attractive way so that they get prospects reaching out to THEM – not doing sleazy cold outreach or anything of the like.
And finally, we make sure they’re qualifying and converting those prospects into paying clients – IF they are actually ready to get great results from working with them.
Going through the program is transformational. Apart from having clients consistently reaching out to you (getting anywhere between 2-10 new clients a month, depending on your pricing), you will find marketing your business SO SIMPLE, SO EASY.
Because all it takes is getting in front of ideal type clients with one on-point message daily. It’ll take you less than an hour a day. I’m charging in the low four-figures for this, which is truly ridiculous value. I invite you to reach out in dm if you think this might be for you…
What is the value (monetary or intangible, emotional) YOUR clients or customers get from working with you? I would love to know 🙂