Is it time for you to have your own high ticket coaching package? If you prefer to work with clients at a deep level, but want to move on from classic one to one coaching into long term group coaching, then you’re ready to create a bundled program your clients will love! And why not significantly amp up your profits while you’re at it?
Go for high quality, high impact time with your clients. But be sure to play to your strengths while also considering what people in your market really want. Some markets will be too busy for individual calls and prefer live events at an exciting destination where they can tack on vacation time. Some markets will want more “hand holding”, so you’ll want to load on opportunities for both group and private support.
Bundle Together Lots of Goodies
It’s really “anything goes” when it comes to designing your high ticket coaching package so feel free to get really creative as long as you know it will please you and your market. Here are a few tried and true features you can mix and match.
Keep in mind, what makes a program worth the big ticket price is proximity to you and in depth experiences.
Group calls — Offer one type or a combination of group coaching, mentoring, educational teleseminars, and/or mastermind calls.
Small group support —Break your larger group into sub-groups with mini-masterminds or monthly or weekly accountability buddies.
Private coaching by phone — Include 1:1 sessions of any length that are pre-scheduled or set “open coaching” time periods on a first-come-first-serve basis.
Live events — These could be private or group half-day or full-day intensives or retreats.
Online connection — Provide some sort of low touch venue for members in your group to connect, ask questions, share wins and challenges, such as private social networks or Q&A forums.
Extras — Throw in educational modules, exercises, checklists, templates, mp3s, CDs, books/ebooks, and free tickets to live educational events. It’s best to include relevant things you already have in your product funnel to make the package feel juicier and more valuable, rather than having to create these from scratch. Dig deep, you’ve got some of these things ready to go.
Deliver High Value
While you can create a general support group for your market, it’s best if there is a specific topic and purpose for the program. For example, if you offer a workshop or live event, have your coaching package be the follow on or upsell to help your clients implement what they learned and take advanced steps. That makes it easier to fill your programs because you leverage the momentum.
As with all offers, design your package to include all or a subset of the following benefits:
Educate: Fill the holes in your market’s knowledge.
Correct: Help them stop making the same mistakes and create better habits.
Simplify: Show them how to do something in a step-by-step format.
Shift: Bust myths, breakthrough to more powerful mindsets, open their eyes to a better way.
Inspire: Motivate them to take action, stay the course, keep the faith.
Added to these is the wonderful value of community and connection.
Pricing for Profit and Commitment
If up to now you’ve been all about building income but not profits, it’s time to make the shift to a more sophisticated business mindset. If you make six figures every year but spend half of that on your biz no matter how much you make, it’s one thing. But if you can increase your profits while increasing revenue, it’s another thing entirely. That’s real growth!
There are several reasons why you want to shift to high price points for your coaching programs:
- To leverage your time. If you want to work less and earn more there are two main things you can do: scale up and raise fees. This allows you to do both: serve many people at once for high value plus earn more for your time.
- For proximity to you. As you gain expertise and/or demand, you will want to create more low touch opportunities for people to learn from you. Then reserve your time for ideal clients who want to take bigger leaps.
- To encourage deeper commitment through financial investment. No doubt you’ve already realized this, but to a degree the lower your prices the lower your client’s perception of the value they are getting. And vice versa. Perception of increased value increases commitment. That means your clients are likely to get more out of your services if they are investing at a higher level. It really is true in most circumstances that people will get what they pay for.
A bundled coaching program can literally double your income or more with one offer. And you’ll find that you raise your standards of delivery as well. You’ll be a better coach when you serve in several different ways that stretch you.
Let’s hear what you’re up to with your coaching programs. Share in COMMENTS — what have you been thinking about in terms of coaching packages? What are some other features you’ll include? When will you launch your next high ticket coaching package? How about 2011?