When talking to prospective clients about raising their prices and creating premium high end services, they often say that their clients won’t pay premium prices for their services.
However, did you know that statistically up to 20% of your clients will pay for a premium service if you offer them one. Also if you consider the Pareto principle, commonly know as the 80/20 rule, 20% of your clients account for 80% of your business revenue. Therefore it makes sense to spend your time focusing on those 20% of clients who value what you do and will pay higher prices for your services.
The clients I work with are creating life-changing transformations for their clients. They have the most amazing gifts and talents and are doing work to make a difference for the greater good. If you’re reading this then it’s likely that you are too. Therefore I’d like to share with you why premium priced programs are a win-win for both your clients and your business.
1/ You can do your best work
With premium programs you don’t have to work with dozens of clients all at once. When your diary is booked out with call after call, your energy becomes thinly spread. You feel exhausted and your clients suffer too if you’re ‘giving’ from low energy reserves. Working with only a handful of clients enables you to serve from a place of high energy, creativity and focus, helping your clients to achieve their goals more quickly and easily.
2/ Commitment from your clients is greater
When a client pays for one of your premium programs they are investing more financially, which in turn means that they are more committed to the process. The more committed they are, the more likely it is that they’ll regularly show up on time, complete the whole program and achieve success. There’s nothing worst than pouring your heart and soul into creating a low priced online program that no-one completes, or even opens once they’ve purchased it!
3/ Premium programs have structure
In my experience clients like a ‘step by step’ process. There’s more value in your clients following a proven process or having a structured framework. This enables you to assert your position as a leader who will help them to achieve a certain outcome, compared to having the client steer each of your coaching or consulting calls.
4/ The return on investment exceeds what they originally invested.
When you know that what you do for your clients exceeds their investment in your premium program, you’ll feel more confident in selling your programs. If you don’t believe your services are worth the price of what you’re selling, then at a subtle level your prospects will pick up on that too. For your premium program to work you first need to get clear on how your program’s results will impact and change your client’s life. Then think about what that is worth to them.
5/ Sets you up for a six figure income without working a 60-70 hour week
By enrolling 2-3 high end clients per month into your premium program you can easily achieve a six figure income whilst still having time available to travel or to spend time with your family and friends.
If you haven’t created a premium program for your business then what are you waiting for?
Heres to your success!
What to read next: Case Study: Catherine doubles her PT Income Within 3 Weeks