Did you know that setting higher prices for your coaching services isn’t just good for your bank account – it’s often better for your clients too? The evidence is clear: success comes when your pricing matches both your value AND the market’s reality.
Understanding Your Market First
Before we jump into pricing psychology, let’s talk about something really important: knowing your market. You need to understand what people in your target market can and will pay for coaching.
Look at what other coaches in your field charge. Not to copy them, but to understand what clients expect to pay. If most business coaches in your area charge between $300-500 per session, pricing yourself at $1,000 per session might be a tough sell – unless you have something really special to offer.
But here’s the thing: don’t just look at the average. Look at the whole range of prices in your market. There’s usually room at every price point. The key is choosing where YOU want to play.
Why Higher Prices Help Everyone
When clients make a significant investment in coaching, several powerful things happen:
First, they take the work more seriously. If someone pays $5,000 for a coaching package, you better believe they’ll show up ready to work! They’ll do their homework, follow through on action steps, and really commit to making changes.
Second, they value your time more. Nobody wants to waste a $500 session scrolling through their phone or showing up unprepared. Higher investments mean higher engagement.
Third – and this is the really cool part – they believe more in themselves. When someone invests significantly in their own growth, it sends a powerful message to their brain: “I’m worth this investment. My goals matter.”
The Natural Filter Effect
One of the best parts about higher prices is that the price will scare some people away; and that’s actually great! Your pricing naturally filters out clients who aren’t fully committed to their growth.
Think about it: do you want to spend your energy convincing people to invest in themselves? Or would you rather work with clients who are already all-in on their success?
When someone says, “that’s too expensive,” they’re often really saying “I’m not ready to commit at that level.” And that’s fine! It’s better to know this upfront than to work with someone who isn’t fully invested in the process.
Setting Your Prices Strategically
Start with market research. What are other coaches charging? What results are they getting? What’s their experience level compared to yours?
Think about the transformation you offer. What problems do you solve? How does your client’s life improve after working with you? The bigger the transformation, the more valuable your service.
Look at your results. Have you helped someone double their income? Save their marriage? Launch a successful business? These outcomes are worth way more than what you’re probably charging.
Making the Shift to Higher Pricing
Ready to raise your prices? Here’s how to do it with confidence:
Create a clear package that shows the value. Instead of saying “12 coaching sessions,” talk about the specific results clients can expect, like “Going from burned-out boss to confident CEO in 90 days.” Adding bonuses to your package can really up the value, as well.
Tell stories about your successful clients. Share real examples of how your coaching changed lives. This helps potential clients see what’s possible for them.
Stand firm in your pricing. When you discount your services, you’re actually doing your clients a disservice. They need that financial commitment to stay motivated and get results.
The Bottom Line
Higher prices aren’t just about making more money (though that’s nice too!). They’re about creating better results for your clients AND attracting the right people to your business. When people invest more, they show up differently. They do the work. They transform.
So, if you’re still charging less than you should, ask yourself: “Am I really serving my clients by staying small? Could charging more actually help me attract more committed clients and get them better results?”
Your expertise is valuable. Your time is valuable. And most importantly, the transformation you offer is valuable. Price according to both your value AND your market and watch both your business and your clients create more success.
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For more great tips for your business, check out the other blogs on our website!
