How Low Can You Go?

As a coach you may find yourself in the position where potential clients balk over the size of your coaching fees. They may say you're expensive. They may say they need to think about it. They may even ask you for a disc0unt. How do you respond?

This situation happened to me this week and I didn't budge. However, a few years ago I may have buckled due to a combination of a lack of confidence in my own services and a desire to take on a new client - hey any client! However, now that I've helped so many clients to achieve results I know the real value of my services and will not reduce my fees.

If the above situation happens to you, I'd recommend that you give it some serious thought before considering a reduction in your fees. You may reduce your fees in an attempt to sway the potential client and they still don't sign up. Worse still, they may come into your practice and you end up accepting a fee at a level that does not even lead you to pr0fit.

Please remember the following phrase from Antony Putman in his excellent book Marketing Your Services:

Price your services too high and you won't get the business;. price them too low and you will wish you hadn't gotten the business.

By the way, this is the best book I've found on marketing services effectively. It contains some great and humerous anecdotes together with practical techniques that work. Treat yourself to it for Christmas and improve the marketing of your coaching practice today.

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Have You Attended the Free Teleclass Yet ?

5 Key Strategies to Attract More Clients
into Your Coaching Practice in 2005

Do you want to have a lot more clients in your practice next year than you've had so far this year? Today at 8pm UK time I'm delivering a teleclass on the 5 key strategies you can implement into your coaching practice to help you to attract a lot more clients in 2005. This is the last one on the 5 strategies this year, so if you didn't make the last call, this is your last chance.

To book your place, e-mail me and you will be sent full details about this informative teleclass. There will also be comprehensive notes sent out to participants after the teleclass. It's free too:-)

P.S. If you do not receive an automated response by 5pm today, then please email me to let me know and I will forward you the details personally.

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> Tips to improve your response to price reduction

Here are some tips to help you to improve your response to suggestions of a price reduction:

1. Refocus - If the 'you're too expensive' objection comes up refocus the client on the main results they will receive from your services. This is where being clear on your target market and the results they want comes in so handy. You do know these don't you?

For example, I say something like this:

'By the end of the Practice Starter Programme you will have identified your niche, developed a powerful marketing message that begins to attract clients. You will also have a set of client-attracting marketing materials and know the methods that work best for you and your target market. The ïnvestment for that is just £X.'

2. Take Away - If the potential client only has so much m0ney in their budget, then you may consider working around that. Consider what you can take out of your offering so that you can still maintain the value and your effective hourly rate.

Again, here's how I approach it:

'So you've only got £Y in your marketing budget right now. OK. We could look at taking a small number of items out of the Practice Starter Programme so that you can still get the main benefits from participating. This means that instead of the normal 8 sessions it will be 6 sessions and the ïnvestment will be £Y.'

3. Güarantee - Offer a m0ney-back güarantee to lower the resistance of people purchasing from you. For example you may say:

'You may be concerned about the size of the fee. However, upon using my services I'm sure that you'll experience benefits that far exceed the fee. Let me take the risk. Ïnvest in my services today and if by the end of the first session you don't believe that you've obtained sufficient value, I'll refünd your m0ney in full.'

So, how low can you go?

With very best wishes,

Authentic Practice
helping coaches to get more clients
3 Larchdene Avenue
Wollaton
Nottingham
NG8 2PF

Website: http://www.authenticpractice.com

Tel.: (0845) 123 5105
Mobile: (07811) 262 111

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I hope that you have enjoyed reading this issue of Authentic Practice and have found the information valuable. Please forward this issue onto any friends or colleagues that you think would benefit.

I work with coaches who have a strong desire to help others but are currently struggling to get clients. I help them to attract more clients and create a stable coaching practice that makes a bigger difference in the world.

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