How to Raise Your Prices and Get More Clients – Three Phases
Raising your prices seems like an easy feat. And for some of you it very well might be. But I’ve noticed that for many of my clients – raising prices proves to be a challenge.
First, you start to notice that more and more people are saying no. Second, you start to doubt whether anyone will ever buy again. And before you know it, you’ve lowered your prices again or just quit selling all together. You decide to do everything but put yourself out there, justifying that it is much better to work on your website.
You aren’t alone! I see this occur all the time with my clients. It happens when you take your $400 program to $600. It happens when you launch your first high-end private program. It happens when you offer your first VIP day at your highest rate.
Never fear. The key here is to stick to your new prices no matter what happens.
I must add one caveat here – make sure your new rates have come from you and that you are happy with them. I’ve seen way too many clients raise their rates because their coaches told them too – but the prices never feel quite right. I’ve seen other raise their rates because someone else in the industry charged those rates.
Look, your new rates may be a stretch for you – you might not be totally comfortable with them. But you do have to feel deep in your bones that they are the right prices. You must raise your rates for the right reasons or you’ll always feel out of alignment with them.
Ok, assuming that your rates have come from you. Here are the three phases I see. Hopefully laying it out will help you to persist through to Phase three:
1. Phase One – Awkward Sales Conversations: First you can hardly get the new prices out of your mouth. And when you do it sounds awkward. Not only do you attract people that can’t pay your new prices, but they couldn’t even pay a quarter of your old prices. The sales conversations are uncomfortable and you feel a little like you are starting over.
Don’t fear! This is occurring because you are unsure of your new prices. Energetically you are vibrating at a level where you are attracting those that are unsure and unable to invest. They are mirroring and magnifying your inner uncertainty. Keep selling.
2. Phase Two – Dances in the Moonlight: Now the sales conversations are going better – you feel good about your value and your prices. Now you are beginning to attract some clients who say “Yes, but”. They agree to pay your prices but you have to split the payments on three credit cards, create a different pay schedule, and dance together in the moonlight (ok, kidding about that last one – but it may seem like that with all of the special requests you get).
You don’t have a problem with all the special pricing requests – namely because you are happy to get some Yeses. Dancing in the moonlight it is.
3. Phase Three – YESes: By this phase your vibration has shifted. You love your program and know without a shadow of a doubt that it is worth every dollar. In fact, you think everyone should be doing your program. You’ve put some people through the program and they are raving.
Now, you finally start to get clients who say YES. No special requests. No dancing in the moonlight. Just YES.
This is why you must keep selling – even when you are in phase one and it seems like you should just go back to your old prices. You are re-learning how to sell higher-priced products and programs. You are shifting into a higher vibration.
For the record, not all of you will go through these phases! Some of you will raise your prices and get immediate YESes. Others may decide that a different price point is appropriate. It’s all good. And if you’re wondering what else you can do to make more money, I’ve laid it all out on the table for you here.
Happy pricing! Leave me a comment and let me know how you’ve gone through these phases in your business.
