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Marquel: Hey, what’s up, my friend? Marquel Russell here. Welcome to this brand new episode of the School of Client Attraction. [01:02.7]
Now, in today's quick episode, I want to talk about the biggest pricing mistake that I see coaches and consultants making. Most coaches, and we work with thousands of them and we’ve helped our clients make over $500 million in revenue, over half a billion, and we see this all the time, right? What a lot of people do and it's typical business stuff. Most coaches and consultants, they price their stuff like other types of businesses, regular-type businesses.
I'm going to give you an example. They look at the market and they say, Okay, what are people charging? And they look at it like, Okay, this person is charging the lowest. This person is charging the most. Then they price themselves right in the middle and that's the biggest mistake you can make because nobody wants to do business with a mediocre person. Right? So, think about it.
You’ve got Walmart as the lowest and then you’ve got a higher end. You're going to go to Nordstrom. Kmart tried to find their way right in the middle and they got wiped out, and Kmart was in the game before Walmart and Walmart came in and took it over simply because they understood this. [02:03.8]
What I want you to think about when it comes to your pricing is, a lot of times people say, How can I justify charging $3,000, $10,000 or more? I'm like, how much does it cost them to keep the problem? I'm going to give you an example. I was talking to a client yesterday and she said she's doing parenting coaching. She wants to do parenting coaching, right? She was like, How do I charge people a $3,000 or $5,000 price point? Right? I don't see how it could be valued at that.
I’m like, Okay, think about it this way. $3,000 is expensive compared to what? Because she said $3,000 was expensive. I was like, $3,000 is expensive compared to what? She was thinking. I’m like, Is it expensive compared to what it would cause for a bond fare if their child went to jail or by hiring an attorney if they had to go to court, or what about a funeral? Funerals are pretty pricey, so if their child gets involved in gangs, gets killed and not have to go to a funeral, I mean, is it expensive as it relates to that, or them having to go to prison and they have to pay for that or all these attorney fees or that, or they end up having a child at a young age and they have to pay for that? $3,000 is expensive as it relates to what? Right? [03:12.7]
She was like, Oh, I never even thought about it like that.
That's one way to think about it. Another way to think about it is, when somebody buys your thing, whatever your offer is, what is that worth to them 30 years from now? The number one answer I hear is priceless. If it's priceless, why is charging $3,000, $10,000 or more an issue? Because we don't really think about that, right? We think that we're selling our time as the only thing we’ve got to give out, and if I’m someone charging $3,000, $10,000, I’ve got to do all these types of stuff. No, you're selling the outcome.
If you can help somebody to get the outcome in an hour, you can charge them $3,000 for the hour or $10,000 for the hour, $20,000 for the hour, $25,000 for the hour, right? You're just giving them some grades by breaking up, if you break it up, but you can legit say, okay, it's $50,000 an hour, because after this hour, this is what's going to happen, and you're sure about the transformation. [04:00.8]
Can you guarantee it? No, because they’ve still got to do the work, but you know, the value of the transformation that you provide. So, I want you to price your offers in that particular way, which, of course, is going to make your whole entire business more profitable.
Now, if you want to know exactly, How do I package this up? How do I package up an offer to be paying me $3,000, $10,000, $25,000 or more? I'm going to give you that for free right now and I’m going to show you how to get clients that happily pay you that with our Paid Ad Playbook, and I’m going to give you my exact script where you can have a conversation with somebody and they pay you $3,000, $10,000 more in one call.
I'm going to give you all that inside the Seven-Figure Client Business-Building Bundle when you text “podcast” to 904-447-5274. Just text “podcast” on your phone, send it to 904-447-5274, right? And you're going to get a reply that asks for your name. Then you send your name, just your first name, that's it. Then you're going to get a reply asking for your email, and you send your email, and then we're going to immediately send everything to your email box for 100% free, okay, just as our way of saying thank you for checking out the show. [04:55.2]
Now, if you're like, Marquel, I want to just work with y'all. I want y'all to help me implement all this type of stuff, cool, all you’ve got to do is go to RapidGrowthSession.com. You can't buy anything on this call. It's not a sales call. Just go to RapidGrowthSession.com and schedule a quick 15-minute chat so we can take a deep dive into your business, see where you are, where you're looking to go, who is your ideal client, what are you currently charging, what you should be charging, and then help you map out a game plan of exactly how to add an extra five to six figures onto your monthly revenue.
Then, from there, you can either take the game plan and go implement it on your own, find somebody else to help you implement it, or if you decide you want us to help you implement it, you can let us know and then we'll schedule another call to talk about how you can do it. Okay?
Thank you so much for checking out this episode. Have a phenomenal day, because you absolutely deserve it. Talk to you soon.
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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