It's a challenging topic for so many owners.
Especially when you're launching something new to your clients or your market.
Should you price hight?
In today's video I shared a snippet from one of our weekly coaching calls inside of our 90 Day Foundations Program discussing how I'd think about and approach pricing your first high-ticket consulting offer.
Oh, and I also cover why so many gurus just want you to charge as much as possible. 😉
So there's that.
Let me know your biggest takeaway.
Transcript / MP3
So you're going to launch your first high ticket consulting program or add it to your existing agency. What should you charge? That's what we're going to talk about in today's episode.
What's going on guys, Greg kickin here with all [email protected] And in this video, I actually want to bring you behind the scenes of, uh, a snippet of one of our coaching calls with one of our clients. ...
Uh, so for context, we train and coach agency owners on expanding their revenue streams from just offering their core done for you service, to adding on more profitable and leveraged and scalable offerings, like high ticket consulting group, coaching workshops, et cetera, so that they can get more clients and make more money without necessarily equally and linearly growing their overhead. And they're overwhelmed. So I'm going to bring you behind the scenes. This is a short snippet. This is a segment of a longer 60 plus minute coaching call that we have on a weekly basis with our clients, as they're launching their pilot programs, this is their first time that we helped them design it, package it and go pre-sell it.
And oftentimes they want to know, what do I charge for this thing? How should I approach the pricing of this? So, uh, if this is at all useful to you and you are thinking of doing the same thing and you watch this and you say, Hey, I want to actually do this as well. I'm going to put a link in the description so that you can schedule a call with our team. You'll speak with one of the advisors on my team about how this could apply to you just mentioned that you saw this video and that you want to jam about how you could add a new leveraged offering, like high ticket consulting to your agency. Without further ado, let's just jump right in and check out the coaching call pricing is interesting, right? Because there's a lot of factors that come in. Um, obviously the biggest factor I'd say for what we're dealing with here is the fact that it's a, it's a pilot, right.
Um, and we've talked about, uh, in previous, um, in previous calls, there was a balance between the fact that this thing hadn't existed before there was a weight pulling down the price, because, Hey, this is raw unpolished. You know, we're going to take you through it. You're a kind of an early bird member to this thing, but also in turn, it can go up. Um, I guess they're not go up. The, the weight on this side could equally be as heavy if not heavier, because you want to make sure that these people get the result that you're promising so that you have some solid testimonials coming out of your pilot. Right? And so you might go above and beyond in regards to, you know, level of access, like you might have to hop on a couple extra one-on-ones to make sure that people are getting, you know, not only to get, make sure that they're getting the help that they need, but really truly understanding where these people are getting stuck so that you can tweak and optimize to remove yourself or the, the, that level of need next time.
Right. And so your access to you has equal value, if not more than the fact that they're going through this. And so there is a balance here that you guys need to remember, like, you guys have hourly rates that in many cases are still, probably too low than what they should be. So like, think about what it, what is it worth to have that level of access to you? And there's a balance like, yup, it's raw, but I need to make sure that they're going to, like there, these people are probably going to have a little bit more attention for me in the pilot than say like, you know, a year from now that you know is valuable, right? So they are getting access to you. And in many ways, people are going to be buying into that access as you talk about it, right?
Because they trust you, they trust, Oh my God, I'm getting in early on this. You know, the, the thing that I always like emphasizing is that at least in the sales conversations, um, and maybe we don't talk, we don't talk about this enough, but like the power of this thing being built in near real time translates to a benefit for the people that commit to join the pilot in that, you know, Hey Betty. So like I said, this is a pilot program. Normally it's going to retail for 4,900. Um, but we want to get some people in the door and make sure they get results. Obviously there's still a lot of work to be done. And you're going to get a lot of extra access to us to make sure that you get these results. So what we're thinking is, um, you know, for the pilots 3,200, and we're going to be delivering this and creating this in, you know, in pretty close to real time, if not real time.
And what that's going to allow us to do is customize it to your needs as we're delivering it so that we can make sure that you get exactly what you need out of this experience. Right? And so like each person you're talking to like, that's really, the message is like, Hey, I have this roadmap. I know how to do it, but we've always done it for people and we're going to be guiding you through it this time. And so I don't know what necessarily each and every roadblock that you might encounter because of your unique situation. And for that, we're going to be able to help you through this process, through these different touch points, whether that's the weekly coaching call, or if you want to add up a one-on-one in there, or if you're like, Hey, if at any point you get stuck, like I'll hop on with you, you know, real quick to kind of get you unstuck, like the amount of times that you can, or the emphasis that you guys all can put on the designing this for you and your needs so that it works for you is valuable.
And so, like the, the reason I drew this is because I don't want you to discredit and or discount the value of this side because it is valuable. So this is why we typically don't say, Hey, discount over 50% like that. Cause there's, there's some weight here that we need to consider, um, as well. So there's that element, right? There's the balance of custom and whatnot. Now, um, the, the kind of ballpark that I've seen, you know, in this space, right? Like, and I say this space, high ticket consulting, group coaching, et cetera. Like you will see most programs somewhere between three. And like, I'd say 80% of the time is going to be between three and 10 K. You obviously want to make sure that you can deliver a transformation and results profitably for that price point. Right. Um, and so as you evolve, you might, you might realize, Hey, like maybe we need a mandatory touchpoint that's one-on-one.
So like for that, I know that I'm going to raise the price because they're actually getting even more handholding than, you know, than I was expecting when I was designing this thing. Right. So, um, you might add touch points over the course of you delivering this thing, that warrant you continuing to raise the price. Um, but I'll tell you that, like, if you're designing it with the group, like again, we talk about the hybrid. There was some training, there is some group calls, um, some strategically woven in one-on-one. Um, if you can keep that structure pretty intact, like you should be able to deliver a profitable experience. Even when you start using things like paid acquisition between five and 10 K, you can get away with the three in most cases, but the closer we can start getting to five and between five and 10, when you start paid advertising, you will realize that there's going to be a benefit to being able to, to accommodate that price.
Not just because the, you know, you hear a lot of people that like tell people to charge more, just to charge more. There is a little bit of that in our space. Um, and I will tell you part of it is to be able to accommodate for the cost of acquisition so that we can consistently bring new people in because yeah, you, organic marketing is really important. Um, it's going to be, uh, you know, something that you start doing all the time, but some of the predictability and longevity and scalability for all of you, depending on no matter what size you want to grow, the ability to spend a dollar and make two is a skill that will serve you for the rest of your life on paid acquisition. So like the ability to, Hey, you might not need to spend 30 plus K a month at some point ever based on your long-term goals, but to be able to spend five 5k a month and have like predictable lead flow that is moving into a nurture system, that is your content, your private Facebook group, your email newsletter, or what have you that can churn out the number of calls you need a month to sell the number of desired client.
Like there is a benefit to that. And so that comes at a cost, right? And there's a balance like the I'm gonna go slight tangent, but like, I know some people are like, Oh, I don't want to have to spend money on ads. That's totally fine. Then you're going to need to like, probably quadruple the amount of content you're going to need to create, because reality is it's about volume. No matter how you look at it, whether it's organic or paid, we need to get in front of enough eyeballs. And for you to do that organically, honestly, like at scale, you're probably needing to create content daily, um, and have a really good distribution system to get in front of enough eyeballs from a scalability perspective. Now, if you're selling a hundred thousand dollar contracts, that's obviously a different ball game, but we're talking about selling something, you know, five, 15 K somewhere in that, in that wheelhouse getting, you know, somewhere between five and 10 people in the door, every single month becomes really like that can change your entire life.
Right. Uh, you know, for, for many of you. So like you can spend tons of your time creating the content that is going to be needed at the you're probably going to burn out at some point. And so there's a balance of man. It's really nice for me to be able to create less content, but amplify it more with, with dollars because I'm paying for my time back so that I don't have to create something every single day I'm paying to get in front of eyeballs. Just like, you know, people are like, Oh, outbound. Well, outbound works again at volume. Like my guys are hitting a hundred people a day coming in. And like, that's like the bare minimum for outbound to really work. Wow. You know, like, but if you look at it, it's kind of the same as ads. Like if you look at, uh, impressions, right.
For Damon and we're doing inbound outbound. So like we have registrants coming into our webinars and our opt-ins and Damon's just reaching out to those people. He's on averaging getting 85 to a hundred outbound touches a day to get two to three people put on the sales calendar a day. It's like 2% is a good, like two people put on the sales calendar from his 100 touches a day is like really good. Three is like, he's a rockstar. Um, anything more than that, he's like becoming godlike, like true people. Like you have that volume, but the same thing sort of applies with ads. Like if you're spending, you know, uh, if you have a thousand paid leads coming in the door every, every single month, like you're probably going to look at 1% of those people actually buying. So it's kind of the same. It's just one takes a whole lot more work and this one's way more laborious than the ability to pay.
And so, but we've got to earn that. Right. And there's the balance. Um, so anyway, back to the price point, we want to make sure that over time, and again now is not necessarily the time for this, but it's okay to raise the price over time. We want to make sure that once we start getting into like quantifying our acquisition costs, that obviously there's still money to cover acquisition and like profit in the fulfillment process. You know? So that's a key piece, but nine times out of 10, like between that, especially that five to 10 K price point, um, the structure of how you deliver what you deliver as you refine it and get better, you will be able to deliver it very profitably, um, and account for acquisition. [inaudible].