How To Price Coaching Packages | My Top Tips for Pricing Your Services
New to online coaching and not sure how much you should charge. Here are tips on how to price coaching packages and get paid what you are worth.
Hey Trish Davies here and today I want to help put money in your bank. Now I know that is a bold statement to make but I want to share some insights on how to price coaching packages.
When you are pricing your services, it’s important to understand the different types of services you offer. You may be selling a coaching package, but what does that mean for your clients?
First and foremost, a coaching package is a set of services that are delivered to an individual. This might include working on a specific skill or trait, helping them grow as an entrepreneur, or even providing mentorship.
In most cases, a coaching package will come with a set price point and it will always be something that you can add onto to make it more affordable.
Now that you know what a coaching package is, let’s take a look at some tips on pricing it so that your clients are happy and have the best experience possible.
How To Price Coaching Packages
When you are selling a coaching package, it’s important to price it accordingly. Often times, when you offer a package of your services for a set price, you might feel like it is too low and that people won’t come back for more.
So be sure to consider the value of what you are offering your clients. Also make sure that they know how much they will be saving by coming to see you as their coach.
Another important thing to take into account when pricing your coaching packages is how often they will need them. For example, if someone has been struggling with weight loss for six months. They have finally decided to hire a nutritionist for help, this would be an appropriate time to offer them a food plan tailored towards their needs.
Since these plans are tailored specifically for the individual and can sometimes include meal replacements or even in-home cooking sessions. Therefore they might be worth more than just one session of coaching.
It’s also important to consider the time commitment that comes with coaching people on various topics. For example someone has been wanting advice about starting an online business. However they don’t have enough hours in the day to commit themselves fully (or even if they do). Then pricing out each session may be the way to move forward.
How To Choose The Right Price Point
When it comes to pricing your coaching packages, there are a few things you should keep in mind.
First of all, the price point for your package should be different than what your competitors charge. This will allow you to create a niche for your business and be able to stand out from the competition.
Second, you should also take into consideration what your client is looking for in their package. Is this something they want to invest in? What do they want to get out of it?
Do they need long-term coaching or just short-term guidance? The answers to these questions will help you figure out what your pricing structure looks like.
Once you have figured out how much money you want to make off each individual package, it’s time for the most important step. That’s determining how much time and effort it takes to complete each service (or deliverable). This way, you can set a price point that reflects the time and effort that goes into each service.
Finally, determine if people are going to be working with one person or several people on the project. If there is going to be more than one coach involved then that means there will be more people who need payment and this could potentially increase the cost.
How To Measure Your Success
When you are pricing your coaching package, it’s important to understand what success looks like for your clients. It might be the case that a client buys your coaching package and then decides to hire you on a per-hour basis.
This means that they are going to want to find out how much they will need to pay for each hour of work.
Therefore you could measure success would be by looking at how many hours of work the client has done with you so far. You might also consider measuring their business metrics over the time period in which they have been working with you.
Another great way that you can measure success is when a client makes an action or takes a step towards accomplishing something in their life. For example, if they enrol in one of your free workshops or decide to sign up for one of your paid programs. Those are some clear ways that they have taken steps towards accomplishing something.
When choosing between these two methods of measuring success, it's important to consider what type of results you're hoping for from your coaching package. Additionally, keep in mind that when working with clients who may not be able to afford a lot of sessions all at once.
What Is The Cost Of A Coaching Package?
If it’s your first time pricing a coaching package, it may be difficult to figure out what the true cost of your services is. One way you can easily determine how much each service will cost is by looking at what other similar packages are selling for.
For example, if someone wants to work on their brand strategy or marketing plan for $40 an hour. Then the average price point for a coaching package would be $320 per hour.
Another option is to look at successful coaches and see what they charge for their services. Just remember that this is just one idea for how you can get started with pricing; there are many more alternatives.
In addition to having a good idea of how much your coaching package costs, it’s also important to set up a clear payment plan that your clients agree with and understand.
How To Price Coaching Packages – Pricing For Initial Workouts
When you are selling a coaching package to your clients, it’s important that you set up the initial session as a one-on-one experience. This way, your client will feel like they can be open with you and share their struggles and ideas about what they want to work on.
You may also want to offer an introductory session for free. This will allow your client to see if your coaching is a good fit for them or not. It’s important that this first session sets the tone for the rest of your sessions so there’s no confusion or miscommunication later on.
Pricing is always going to be an interesting topic when it comes to services that you offer. However, there are some simple guidelines you can use in order to make sure that every client feels valued and is happy with the price point you have set out for them.
Pricing When You Add Extra Services
If you are charging a flat rate on your coaching package, it’s important to price each additional service separately. For example, if you are offering a one-hour coaching session and an individual wants to purchase a one-hour mentorship session. They can then add that onto their initial coaching package for an additional fee.
It might be tempting to bundle all of the services together in a single package. However this could lead to confusion and some clients may end up paying for something they didn’t want or need. It’s always better to make sure that every client is well represented.
Another tip would be to offer discounts when people sign up for multiple packages at once. If someone signs up for two packages at once (coaching and mentorship), then they will get 40% off the first package and 20% off the second package. This will give them a deep discount on their original purchase while still giving them options on what they want!
Pricing After You Have Finished Services
It can be hard to charge money for something that you have done, particularly when the specific service you provided takes a lot of time. For example, if you are an online marketing coach and your client is struggling with a social media campaign, it may take you hours or even days to help them.
However it’s important that your clients know their investment will yield results and they should be able to get their money’s worth. It’s always a good idea to offer some kind of payment plan so your client doesn't feel bad about not being able to pay up front.
Another option is offering a trial period. Then they can see how the coaching package will work in real time before signing on the dotted line. Not only does this make them feel more secure, but it also gives them more time to test the product and see if coaching is what they need.
If you do offer trial periods, make sure that you set clear guidelines for each phase of the trial. For example the number of sessions or amount of days that they can use their services before making a purchasing decision. This helps both parties avoid any confusion about whether or not they are satisfied with the product and helps them meet their goals with coaching.
I have shared with you a comprehensive guide on how to price coaching packages. If you would like more information on creating, structuring and pricing coaching packages register for my free 9 step program. The program is designed to help you create your online coaching packages and create a personal brand at the same time.
Register here for the program.
Helping you build your authenticity, authority and audience.
Trish Davies
Build Your AU
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