{"id":8632,"date":"2023-08-10T19:08:39","date_gmt":"2023-08-10T19:08:39","guid":{"rendered":"https:\/\/blog.growthtools.com\/?p=8632"},"modified":"2023-08-10T19:09:02","modified_gmt":"2023-08-10T19:09:02","slug":"coaching-prices","status":"publish","type":"post","link":"https:\/\/blog.growthtools.com\/?p=8632","title":{"rendered":"How much should a coach charge? More than you think."},"content":{"rendered":"

The single hardest thing to advise anyone selling coaching to do is raise their prices.<\/p>\n

No one wants to do it.<\/p>\n

Everyone doubts themselves.<\/p>\n

It\u2019s super freaking intimidating.<\/p>\n

When we suggested it to our client Sandy Linda, that\u2019s exactly how she felt.<\/p>\n

\u201cI went from $2,500 to now $5,000. Can I just tell you how scary that was?\u201d she said.<\/p>\n

But guess what happened when she pitched her first prospect with that new 2x higher rate?<\/p>\n

She closed them immediately.<\/p>\n

If you want to increase your revenue but are hesitant to raise your prices, you need to watch my interview with her below.<\/p>\n

We dig into the psychology of raising your coaching price and why it\u2019s an option for more people than you probably think \u2014 including yourself most likely.<\/p>\n

Check it out now + get the full breakdown below!<\/p>\n

[su_youtube url=”https:\/\/youtu.be\/3toBuWwh8Oo” title=”How much should a coach charge? More than you think.”]<\/p>\n

[su_box title=”Want My Team to Find the Perfect Marketing Strategy for Your Business?” box_color=”#09DD82″]Click here to book a free Strategy Call<\/a>\u2014one of my in-house experts will study your business, hop on a call, and we will do a deep dive analysis into your best opportunities for growth<\/span>.[\/su_box]<\/p>\n

Learn more about Sandy\u2019s business here.<\/a><\/p>\n

How Sandy Linda Doubled Her Coaching Price to $5,000<\/strong><\/span><\/h2>\n

First, let\u2019s get a clear picture of what Sandy\u2019s business looks like.<\/p>\n

The Business:<\/strong> Sandy is a life and grief coach. She helps women move beyond loss and grief and develop a purposeful life.<\/p>\n

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Her Clients:<\/strong> Sandy\u2019s ideal clients are mid-life women who have experienced heartbreaking loss \u2014 typically the death of a loved one or a divorce.<\/p>\n

Her Product:<\/strong> Her primary product is a 1:1 coaching program:<\/p>\n

\"\"

The program runs for 3 months and consists of a weekly 1:1 call, plus on-demand email and Slack communication as needed.<\/p>\n

The price?<\/p>\n

$2,500.<\/p>\n

Until we advised her to raise it, that is.<\/p>\n

Listen \u2014 it\u2019s not like $2,500 is cheap.<\/p>\n

But there were allllllll kinds of signs that Sandy\u2019s best fit clients would be willing to pay more.<\/p>\n

Like the prospect who responded, \u201cThat\u2019s it?\u201d when Sandy revealed the price on a recent discovery call.<\/p>\n

The truth is, most coaches and online course creators have no idea if they\u2019re charging too little or not. But the natural instinct for most is to assume they\u2019re not\u2026even though the opposite is typically true.<\/p>\n

So how do you find out?<\/p>\n

You experiment!<\/p>\n

2 Simple Ways to Experiment with Your Coaching Pricing<\/strong><\/span><\/h2>\n

The first method is simple:<\/p>\n

Get prospects on the phone and start testing new prices.<\/p>\n

This is exactly what Sandy did.<\/p>\n

She used to charge $2,500.<\/p>\n

She quoted a prospective client at $5,000.<\/p>\n

The client said yes.<\/p>\n

That\u2019s it!<\/p>\n

Remember: if you\u2019re never hearing \u201cno,\u201d if you\u2019re never getting any objections related to price, you are likely undercharging.<\/p>\n

But the only way to find out for sure is to test a higher price.<\/p>\n

If you\u2019re already selling an existing coaching offer, this is what I recommend doing.<\/p>\n

But what if you\u2019re starting from scratch?<\/p>\n

What if you genuinely have no idea what to charge?<\/p>\n

Here\u2019s what I recommend:<\/p>\n

Step 1:<\/strong> Research what other coaches in your niche are charging. If there aren\u2019t other coaches like you, find one in a similar niche.<\/p>\n

Note: you may have to do some \u201csecret shopper\u201d work because coaching prices often are not listed publicly.<\/p>\n

Step 2:<\/strong> Price your coaching program somewhere around the average (I recommend going a little above it). Your price won\u2019t stay here forever, but this will allow you to validate your offer and make sure it\u2019s something people want.<\/p>\n

Step 3:<\/strong> Identify your top 50-100 most engaged email subscribers. Ask if they\u2019d be willing to give you feedback on a product idea. Here\u2019s an example of that email:<\/p>\n

Step 4:<\/strong> Send everyone who says yes a product description for your coaching service and a feedback survey. In the survey, ask if they are interested in purchasing your coaching service.<\/p>\n

Step 5:<\/strong> Offer everyone who says they are interested a special discount for becoming an early client (don\u2019t go more than 10-15%).<\/p>\n

Your goal should be for 10-20% of those highly engaged followers to buy. If you can hit that, you will know two things:<\/p>\n

    \n
  1. Your offer works.<\/li>\n
  2. Your pricing is at least in the ballpark.<\/li>\n<\/ol>\n

    From there, you can begin testing higher prices using the first method.<\/p>\n

    Want an experienced \u201ccopilot\u201d to help you increase your coaching sales? Let\u2019s talk.<\/strong><\/h2>\n

    Everything gets easier when you have a proven plan to follow. Just ask Sandy:<\/p>\n

    \u201cGrowth University is an excellent bulletproof marketing system,\u201d she said. \u201cYour tools have enabled me to overcome the challenge presented by marketing and become more open and adaptable to new ideas.\u201d<\/p>\n

    Whether you need to increase prices or attract higher quality leads, my team and I will study your business and map out a custom marketing plan to help you hit your revenue goals.<\/p>\n

    Book a Strategy Call with us and you\u2019ll see exactly what that could look like for your business.<\/p>\n

    On the call, we\u2019ll show you:<\/p>\n