Joan was struggling in her month-to-month coaching business.
She was an excellent coach, but it was like pulling teeth to get people to sign up.
And when they dropped out – ouch!
Then she discovered 3 little secrets, and increased her business by well over 100% in 7 months.
- Joan found out that 20% of every market – including hers – would pay a very high price for the right solution. This shocked her. Where were her Big Spenders hiding?
Joan’s Big Spenders were hiding out, because she wasn’t offering them anything that seemed like a sure-fire solution to their problems.
- Many folks don’t want month-to-month coaching these days. They prefer to buy complete systems that are a solution to their problem.
And the secret that really turned it around for Joan was…
- There is unconscious pain, deep in the Old Brain, when we spend a lot of money. The pain is not at the actual price, it’s the value we think we’re getting.
Here is how Joan turned around her business:
First, she did a client survey to find out what her people really wanted
Then Joan realized that she could offer a 6-month system instead of month-to-month coaching.
Joan targeted her system to exactly what her clients said they most wanted.
Not only did Joan name her system (remember people like to buy systems that are solutions), she put the transformation that her clients would experience into the name: Turnaround: 12 Months to 6 Figures.
(Even if her clients did not make 6 figures in 12 months, they were solidly on their way with her coaching.)
Next, Joan named each step of her system, because naming every step makes people see your package as more valuable. “Who Are Your Big Fish?” was her first step, where she taught people how to tease out that 20% of their market that would pay for high-ticket products.
How did she get her own Heavy Spenders to come out of hiding?
Joan packaged her system so that it was full of bonuses and hands-on material.
These days, people like workbooks, cheat sheets, and stuff they can hold in their hands. Joan made sure they got a lot of material to work with.
And Joan’s bonuses were irresistible – such as 1 private call a month with her, two 4-day Mastermind retreats, and a 3 Marketing Miracle Makeovers.
And last, how did she take away the pain of buying?
She priced her 12-month Turnaround Mastermind at $25,000, and sold it for $18,000 if they signed up within 24 hours.
The Old Brain does not feel pain at the actual price, but at the value.
So Joan made the price relative – this is very important.
She made sure that her clients knew that the steps to her program, such as the retreats, priced separately, would come to much more than $18,000.
She told them what other similar programs cost.
She asked them to write down the income and time they were losing by not investing.
She positioned her system as the best possible value for the investment.
And – she made the buying experience fun. Another highly important point – for another article.
Joan promoted her system for 6 months, and signed up 22 people, or just under 20% of her market. Her Heavy Spenders came out “out of nowhere” and bought!
Did you know 20% of your market will spend for a well-positioned system?
