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Are you frustrated at consistently failing to land your dream clients? You know, the ones that respect and value what you bring to the table, and would skyrocket your business to the next level? Well, there’s a good chance that something you’re doing in your business is driving them away.

In this episode, Marquel discusses why cheap prices kill your business and the best way to price your services to attract clients that you actually want to work with.

Highlights from this episode include:

  • Why lower prices are absolutely not the answer to growing your business (1:54)
  • How your ideal clients decide who they’ll buy from (and avoid like the plague) (2:25)
  • The psychological pricing trick that can explode your business (3:09)
  • If you charge less than this amount for your coaching, you’ll always be mediocre (3:57)
  • Why ignoring the only person that cares about your pricing can lead to massive results (4:19)
  • The mindset you need to crush in order to grow your business faster than you ever thought possible (4:40)

If you want to know how to get 50-100 leads for your coaching business every single day, head over to getdailyclients.com to grab our free Paid Ad Playbook, as well as some other great bonuses.

Read Full Transcript

You're listening to “The School of Client Attraction.” Marquel Russell is the founder of Client Attraction University, a marketing consultancy helping you attract clients on autopilot and scale your business while working 50% less.

Quick disclaimer: a side effect of listening to the show is more clients, more profits, more freedom, and it's more impact in your business. Now, here's your host, Marquel Russell.

Marquel: Hey, what’s up, my friend? Marquel Russell here. And let me ask you a quick question real quick.
So, let's just say, for example, you wanted to get a Ferrari and let's say the Ferrari was $250,000. Alright? And you've met somebody, whether you were at the mall or, even, let's say you went to the dealership, and right there in that moment you were talking to one of the dealers and he was viewing the Ferrari you were looking at. You know it’s $250,000, right? But he was like, Ay, you know what? You can actually get this one for $10,000 out the door, insurance, the whole nine yards. Not 10,000 a month. Just $10,000, a one-time, and you’ve got the Ferrari. [01:10.0]

What would you say? You would probably be like, What's wrong with it? Right? Or if you went to the Louis Vuitton store and you say you can get this Louis Vuitton book bag that's normally $1,500 for $50 or $100, you’d be like, This can't be the real thing. Right? And you’d most likely be skeptical and be like, Nah, I'm going to pass. Why is that? Because we're naturally skeptical of cheap prices.

You, as a coach or a consultant, you are amazing at what you do. I'm going to assume you're amazing at what you do. So, if you're amazing at what you do, you deserve to be charging a premium price for your knowledge and expertise.

Most coaches and consultants, they're drastically undercharging. Their price points are $100 an hour, $50 an hour. Right? And the biggest reason why is that they don't understand the value they provide and they're not pricing based on their value, and what they do is they automatically repel their best clients. [02:07.9]

Because a lot of times people, they come to us and they say, Well, we're attracting clients, but they don't have the money, or we want to attract clients who have the money … they're successful … they're this, this, and the third.

I tell them, you’ve got to understand that people who are successful that you're talking about, they make decisions a certain type of way and they typically don't make decisions based on price. They make decisions based on value. And if you position and you're talking about how amazing your stuff is, but then your stuff is priced low, they're automatically skeptical and they're going to run away, and they'll rather go find somebody who charges more for what they have.

Now, you've probably seen it. I know people who have a price offer at, let's say, 500 bucks and the person didn't buy it and he was going to coach them for six months or whatever for 500 bucks. And this person didn't buy, but they went off and joined a $10,000 or $15,000 program. Why? Because they saw that as more valuable. In our minds, we automatically say, Dang, if this costs more, it has to be better. That's just psychological. [03:08.8]

So, when you're underpricing, undercharging for your products, for your services, you're automatically scaring your best clients away. Those clients who are willing to give you a premium price, because people buy based on how fast you can help them.
People, when they come to you, they're here and they want to get here. This is their current reality. It’s their preferred reality. They want to close this transformation gap in between as fast as possible, and people will pay you based on how fast you can help them get there and they're willing to pay you a premium price. But if you're the person who's positioned as the Walmart in your particular industry, they’re automatically going to be repelled and they're going to run the other way.

So, what am I saying? What am I suggesting? When we work with clients, coaches and consultants, we help them start charging anywhere from 3,000 to 10,000 or more. We typically don't let our clients who are coaches and consultants, I don't care how long they've been in business, we typically don't let them charge anything less than 3,000, and that's on the low end. Okay? And then you go up from 3,000, 5,000, 10,000, 15,000, 20,000. [04:03.3]

You may be thinking, How do you choose 3,000, 5,000 or 10,000? What it really boils down to is the mindset of the coach or consultant because, in reality, the only person that cares about the pricing is the coach or consultant. Their ideal client isn't. They're not thinking about the price. They're actually thinking about the outcome. And if you can help them get the outcome, they'll pay any price, even if it's not with you, because you're not positioning yourself right and you're not making the offer, but they're going to pay it to somebody. All right? So, understand that your prices can absolutely be scaring your best clients away and you don't want to do that.

All right, now, here's the thing. Most people, coaches and consultants, they undercharge because they're in lead lack. They're in lead poverty. They don't know how to get consistent leads and they're not waking up every day with a calendar filled with people who are looking to work with them.

So, if you want to know how to get an unlimited amount of leads every single day, 50 to 100 leads every single day, and fill your calendar up and convert these leads into clients, you actually can get our Paid Ad Playbook for 100% free and some other bonus trainings that you can dive into as well on how to scale your coaching business to seven figures and beyond, a lot of other really cool stuff. [05:07.2]

If you want that for 100% free as our way of saying thank you for checking out the show, just go to GetClientsDaily.com. So, that's GetClientsDaily.com. You get access to the full Paid Ad Playbook for 100% free and tons of other bonus trainings for you as well. All right, so go ahead and grab that.

Hopefully, you got something back from this episode. Rate us. Let me know, good or bad. Even if you don't enjoy it, I want you to let us know. Be honest and let us know how we can get better, what other episodes, what other topics you'd like me to cover, and feel free to share this around with anyone else who you feel may benefit as well. All right?
So, that's it for today's episode of The School of Client Attraction and I'm looking forward to seeing you in the next one.

What's the difference between you and mega successful coaches and consultants with a dream business? Simple. They're getting more leads than you are. What if there was a way to get 50 to 100 leads every single day like clockwork? Would you want it? Then go to www.GetDailyClients.com to access our Paid Ad Playbook that has brought in millions of leads for our clients over the years on complete autopilot.

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