amy walker professional speaker

Everyone wants to close more sales!  It’s one of the most frequent questions my coaching team and I field.  How do I improve my sales?  The answer however is not so simple, there are many factors that go into closing sales.  Did you position your offer correctly?  Did you overcome objections strongly?  Did the intensity of the problem match the intensity of the solution?  Were you offering to the right people in the first place?  And last but definitely not least, were your products and services priced appropriately?

Pricing can be tricky and this is one of the areas that I see my clients second guessing frequently.  Are they priced too high?  Are they priced too low?  What product should they offer in each setting?  It’s actually a very big topic to cover and there are no hard fast rules.  I kind of feel like an English teacher saying “This is the rule, until of course you have an exception.”  Consider these helpful principles to assist you in pricing your products!

• Never compete to be the least expensive. That is a battle you will not win.  All it takes is for some newbie to come in and undersell you and all of your clients take a mass exodus to XYZ brand who is now $2 less than you.  When you are competing for being the least expensive in your industry, you are attracting the least loyal type of customers.  And there will always be a Walmart somewhere you can come in with lower prices than you.

• If you are going to be the most expensive, you have to clearly show why your value is higher than others. I am not the most expensive business coach, but I am definitely not the least expensive. When we are selling programs, we make sure that we have detailed outlines of all that is included.  We have found ways to add in additional value into programs in the form of client days, Q and A calls, and FB groups for extra support.  We also have awesome client testimonials.  All of those things help support us in maintaining and collecting on our current price points.

• People tend to be willing to pay the most for services that will increase their income. Next will be services that will benefit their families.  And if you are selling to women, they tend to put their needs last.  So you will need to show them that investing in themselves will benefit their families!

• If your closing ratio is consistently higher than 50%, your programs are probably priced too low. If your closing ratio is lower than 10%, I’d first look at your sales skills and then look to see if you are over priced.

• Here’s some pricing information for coaching programs. Membership sites tend to range between $10-$50 a month. A fully automated program (Everything is online) can be in the following ranges: 4 weeks $99-499. 6 weeks, $250-$1500, and 8 weeks, $499-$2000.  Adding in any type of live coaching to support the online programs will allow you to charge more.  Live Group coaching can range from $1500-$20,000 for a year. And One on one coaching is anywhere between $2500-100,000 a year.  I know those numbers are so varying that it still doesn’t give you a lot to go off of.  My advice to start by having programs and services to fill those different spots in your product funnel.  That way you have multiple places where people can buy in to what you offer.

• Products: Books pricing depends on the length of the book. But most paperbacks will sell well between $14.99-25.00.  Audio Books are usually $5-15 more than the paperback and Kindles are usually $5-15 less than the paperback. Single CD’s will sell well between $15-29.00.  CD sets can sell for $99-300 fairly easily

• What should you sell and where? The higher the price point, the more interaction I recommend.  I’m not saying you can’t sell a $30,000 package online, I’m just saying it’s not nearly as likely as in a face to face meeting.  These are my general guidelines. If I am on a webinar or conference call with a new audience, I usually offer something around $250, and never more than $1000.  If I am on a webinar or conference call with a responsive and seasoned audience, I will be more likely to offer in the $1000 range.  At a live speaking event, with a brand new audience I’ll keep the numbers very similar to the new webinar audience.  If it is a warm audience, I’ll likely offer something around $2000.  And if it is a hot audience, like a room full of current or past clients, I will talk about my high end programs.

Again, this is not an exact science.  You will need to try things out with your audience and see at what price you can get the people to move.  Happy pricing and happy selling. See more at : amy walker international business coach.