Thursday, October 22, 2020

If you’ve ever launched an online course or coaching program, you know that one of the hardest parts is figuring out a price point. We most commonly hear prices like $197, $27, and $997, making us think there’s some type of art or science to pricing a program high while still making it sound like a deal. And, don’t even get started on undervaluing what we have to offer just because it ONLY took us a few weeks to put a program together. Here’s what more of us need to know: the information and expertise we are offering have been a lifetime in the making, and are therefore worthy of a high ticket price tag. 

How can you develop the confidence to launch a high ticket program and boldly state the price? This can be especially daunting if it’s your first time launching something high ticket, or if you’ve never invested as much as your price point in another program before. But, the simple truth is that there are too many discounting their offerings because they lack the confidence to put a more appropriate price tag on it. If that’s you, here are some tips on how to break through that barrier.

1. Believe That People Need Your Product

There was no one better to ask about how to develop this confidence than Tara Mullarkey, the founder of the High Ticket Empress. She’s a business coach for female entrepreneurs, experts, coaches, and healers, and helps them with the strategy and emotional mastery of launching a high ticket program. “Every single offer can be turned into a high ticket offer,” she told me. “It’s not actually about market value — rather, it’s about belief. This is about believing in yourself, and believing that people need what you’re offering.”

One central part of believing that people need your product is believing that it is, indeed, a potentially life or business-changing product. “If you could realize that you’re actually being of higher service with a premium program, wouldn’t that help you change your perception on how worthy you are?” Mullarkey offers. “Flip the perception, and realize you’re actually giving them the biggest gift – having them pay more actually makes them do the work which in turn gets them the results they want.”

To get clear on what clients will get from investing in your program, make a list of all the greatest takeaways. As beta students and clients begin to go through your program, you’ll start to amass testimonials and success stories. It may take a while to fully build a sense of worth around these higher prices, but rely on Mullarkey’s advice that it is about your perception of worth as opposed to market value.

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2. Go All In On One Offer

Mullarkey also shared with me that her program helps female entrepreneurs launch and scale just one major offer — one that they can become a perceived expert in. Try this with your offer, too. Think about how this looks from an outside perspective: if you’re known for one main thing that all of your content and press is oriented toward, potential customers can more clearly see how the price is what it is. 

Now, imagine if you were considering investing a large sum into a program on personal branding, then you saw that the founder launched courses on entirely different topics (such as mastering sales calls or writing compelling copy), the allure and credibility is a bit tainted.  Going in on one offer is how you convey the value of what you’re selling and build a stronger funnel of prospective clients.

3. How Can You Incorporate Accountability?

The courses that do really well are those that have real testimonials and success stories — which you can only land if your students or clients are actually completing the program. So, think through ways that you can incorporate accountability to make sure they’re consistently showing up for themselves. There are a number of ways to do this: Pat Flynn recommends making a program time-based (i.e., a certain amount of the curriculum is assigned each week or month), or to follow up with students via email to ask how the course is going. In fact, some would say that accountability is what’s expected of a high end program! 

This will also help you establish greater confidence in a high ticket program,  because you’ll hear a client or student’s feedback each step of the way. If the feedback is negative, you know what could use some tweaking. And when the feedback is positive, take those glowing remarks and put them somewhere you’ll see them as you continue to sell at a high ticket price tag.

When one woman raises her prices, more women feel capable of doing the same.

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At Internet Marketing For Beginners (IMFB) we provide easy to read introductory information on a number internet marketing subjects to ease beginners into the knowledge they would need to begin the practice of marketing online.

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