Your offer doesn't have a price problem

Online coaches and consultants, if you’d like to sign your dream clients and scale, there's a link below that shows how we can help. It's a funnel, obviously, but it explains what we do if you're looking to scale. 

https://youtu.be/P_H2U2jxYCQ 

Lowering your prices will not fix a weak offer.

But a lot of coaches think it will.

So they cut their rates, then cut them again.

And before long, they’re working twice as hard for half the money, attracting difficult clients, and wondering why the business suddenly feels exhausting.

Most offers do not have a price problem.

They have a positioning problem.

Once you understand that, everything changes.

You stop competing on price. You stop attracting people who only care about discounts. And you start attracting buyers who are happy to pay premium prices because they understand the value.

In this video, I break down why lowering your prices is one of the fastest ways to damage your business and what to do instead if you want to sell more without discounting your offer.

Transcript

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If you have an offer right now that nobody is buying and it feels like you're literally pulling seats to get anybody to purchase your offer or your program, the first instinct that comes to mind for most coaches is to try and reduce their price and that is the fastest way to completely ruin your coaching business. And in some very rare cases, it does work that reducing your price might be the solution to the problem, but it almost never happens that that is the case. And the reason is because when you reduce your price, literally, you first off you make less money from your business. So if you needed 20 clients to make 100k a month before, you would need maybe about 100 clients to make the same 100k per month. That's the first thing. You have worse customers. So I'm sure you've seen the memes online where people tell you the more the customer pays, the less work it is to work with them, the more happy you are working with them, and so on and so forth. So you literally have worse customers and you increase your nightmare rate if you genuinely reduce your price. Not to say that expensive customers don't give you problems. I've worked with clients where they pay a lot of money and then we still have issues. That's totally fine. It does happen like that sometimes, but the percentage of clients that are not great for your business will be a lot higher if you charge less, and it's just really a race to the bottom because you, your competitors, everyone will just be charging less and less, and then you keep getting more worse clients as you continue to go down that path, and nobody wants that. So I believe Omozi calls it the vicious cycle of price, and you don't want to be in that cycle in any way whatsoever. So, this video, my goal really is to show you how you can sell more of your offer without reducing your price, so you can still hold a very expensive price point. I'm just going to teach you some things on how to restructure your offer, how to plan around your offer so you can sell more without reducing your price. Because if you're not selling your offer nine out of ten times, it's not because of price, it's for a different reason entirely. So I'm sure you've seen this diagram before. Um, Omozi talks about it a lot, and it's just the values, I think he calls it the value ladder or something like that, and it's basically dream outcome. So if you want to make a fantastic offer, you need to have a good dream outcome, you need to have a high likelihood of achievement, it needs to take them less time, and it needs to take them less effort. And if you read Omozi's book, it gives multiple examples of this. So that's not the main point of the video. But where people mess this up is this dream outcome piece here. Because, and I'll say this twice so you understand me clearly, all outcomes are not made the same. So, someone could have outcome A and be able to charge ten thousand dollars, and another person can have outcome B and struggle to charge $500 because all outcomes are not the same. So, when you're choosing that dream transformation you want to achieve for your customers, when you're choosing that dream outcome you want to achieve for these people, you need to make sure you're choosing the right type of dream outcome, and that's going to be the key thing inside of this video to show you exactly how to choose the right type of outcome that will lead to you being able to charge as much money as possible for your offer and still get as many clients as humanly possible, which is the sweet spot that everybody wants to be in. So you genuinely want to make sure that the outcome that you're choosing is an outcome where you are almost guaranteed that people actually want this outcome. Because the first thing is people need to actually want the thing that you're promising. If nobody wants the outcome you're promising, nobody's going to purchase your offer. It sounds very basic and very simple, but it's the truth. Because one thing you cannot do is you cannot create desires within people, like desires have to already be there, you can only channel those desires into your products or services, so you cannot force someone to want something, and that's where a lot of people mess things up because the outcome that you've chosen, this dream you want to help people achieve, is not the same dream that they actually want to achieve. And you could keep everything the same about an offer, you could reduce time as much as possible, you could reduce the effort to take the clients as much as possible, you could have hundreds and hundreds of testimonials, have all the credibility in the world. But if you don't have a solid outcome that people actually want and people are willing to pay a lot of money for, you're still going to struggle to sell your offer. Sure, you can charge $20 for your program and then sell a bunch of it. But if you want to charge $5,000, $10,000 plus, you need to be using outcomes that people already desire, that they already want. Because you're putting real money in front of people, these people literally do not know who you are. So the only thing you have to show for yourself is the outcome that you're promising them. What transformation am I promising them? So if people do not resonate with that transformation, they are not going to click on your ad, they are not going to purchase your products on the back end of that. So the first thing I'll recommend that you do with your offer right now is just go on Facebook Ads Library, search a couple of keywords, try to see if the outcome that you're promising is something that people already want right now on social media. People are already purchasing this. You find different accounts that are running multiple ads, that are running five plus ads right now that are selling the same outcome that you're promising. Your mechanisms can be different, like your approach can be different, but the core outcome you're selling, other people need to be selling that outcome as well, right? So let's say you help people make money online. That's an outcome that a lot of people are selling. Let's say you help people lose weight, that's an outcome that a lot of people are selling. Let's say you help people build more confidence. Now that gets tricky because I've not really seen many offers that help people build confidence that scale to thousands and thousands of dollars per month, and I'll tell you why that is the case in a second. But you see what I mean? You want to make sure the outcome you're promising, people are already promising those same outcomes on paid traffic, just so you can do a late most test to ensure that people actually want this thing that you're trying to push onto them. So the first thing is ensure there's desire for it and do a late most test on social media and payday to see if people are already selling offers that are very similar to this as well. So different types of ICPs, and if you don't know what ICP means, it just means different types of prospects, different types of demographics and psychographics of customers would find different outcomes more appealing than others. So it's not just about choosing the right type of outcome, you need to choose the right outcome for the right segment of the market because people are going to pay for their most pressing needs right now, literally. So if you are targeting, let's say you have a weight loss offer and you're targeting people who barely have money to eat anything at home, or people who have barely money to have like shelter over their heads, they are not going to buy a weight loss offer just because they have a much more pressing need right now. So you're not just giving people outcomes or promising people outcomes that they want, you're also competing with the other desires they have right now already, because everyone will have like multiple different desires that they want, right? You're also competing with all those multiple different desires, so you need to make sure you're targeting the right segments of the markets where the desires that you are promising these people is a pressing need for them right now. So, one of the biggest fitness coaching offers makes about four million a month, literally targets people who make at least $150,000 per year, and that is an insane offer that is crushing right now because everyone who already makes $1.50k per year, they are getting to the point where they can just start to believe that oh, fitness is now a pressing need for me right now. Like, if you look at any of those um tax-based offers or those CPA offers, tax strategy offers, they always target people who are already making a X amount of money per year. If you look at even like much bigger fitness coaching offer, they're targeting white women in their 60s, in their 50s, because they know this people have very high disposable income. So you need to be targeting your offers to the right type of demographics just because different people will have different pressing needs, and in order for someone to purchase your offer, it needs to be a pressing need for them right now, otherwise, they'll rather invest that same money into something else. So, not only are you choosing the right type of desire, not only are you testing that to make sure people actually want it, you're also making sure the segments of the market you choose to go after is people who consider the offer that you are pushing in their faces a pressing need that they need to solve right now, otherwise, your offer is still not going to resonate, and even if you reduce your price, you might still not get the kind of sales or customers that you want inside of your business. So, this diagram right here is called a Maslow's hierarchy of needs, and it just lists out every single need that human beings actually want on a psychological level. So, this is another way you can know whether or not your offer is an offer that people actually want. Now, the best type of offers and the best type of outcomes that you can have inside of your business are ones that solve as many of these problems as humanly possible, and the good old health, wealth, and relationships will do this for you, literally. So, let's take like personal security, for example, food, friendship, confidence, personal growth. Helping someone make more money solves every single one of these problems. So, the more problems you can solve in the hierarchy of needs, the more likely it is that people actually want your offer. That's why you always want to be in the health belt of relationships. Like relationships may or may not help you solve like your hair, water, full thing. That's why like wealth offers will always work more than relationship offers, but they will help you solve your family, friendship, community, they will help you solve your stable environment, they'll help you solve respect from others, they'll help you solve all these other different problems. However, you need to make sure that again the outcome you're choosing is one that solves as many of these problems here as humanly possible because that way you can know for a fact that this is something that people actually need. So if you have an offer right now and your offer doesn't only solve maybe one of these or two of these problems, then um you might need to reconsider. That might be one of the reasons why your offer is not working as well as you want it to work, really. So the more problems you can solve here, the better. At the end of the day, you'll need to identify the one or two that you know your market really resonates with the most out of all these needs, but they still need to help you solve as many of these needs as humanly possible. That's how you know you have a good offer, and that's why they always tell you to either do health, wealth, or relationships when you're choosing your outcome. So either help them with their health, help them with their relationships, or help them with their wealth, just because they solve a lot of these problems that are here, and these are the core needs that human beings have. And just to go back to the example earlier, like someone who is still trying to figure out how to eat or how to be safe, right? These people are not going to care about like friendships or community or confidence or anything up here. That's what I mean by like different desires would matter for different segments of the market. So if you have something that is more oh, I'm helping people achieve their purpose or achieve peak self-development, you can't target people who are still down here. You have to target people who are way up here because the more pressing thing for people who are here is not to achieve their purpose or to achieve their dream vision or anything weird and vague like that. It's to like literally have food on your table. So you can't target people that are down here. So, two things that I've said now is you want to use outcomes that solve as many of these problems as humanly possible for high-tick care coaching specifically, by the way. Like for other industries, I have no clue how it works in those industries. But if you are an IT care coach, this is literally how you want to do it, or you want to make sure that the segments you're targeting are not people who are suffering from things that are still down here because this is the more pressing need for them, right? So keep that in mind. So you can get away with selling offers that don't do any of the things I've said so far, and you can get away with selling offers that are literally $50, $100, but you need a lot of volume and you need a big brand. So the whole point of all of this is for you not to have to deal with multiple customers, build a massive brand. Like we've had clients with scaled to hundreds of thousands of dollars per month that literally have like 4k followers on Instagram. Literally, one of our clients right now has 4,000 followers on Instagram, are spending a lot of money on ads, but it's not a lot of volume, as you would need to sell like thousands of hundred dollar products, for example, where you might need like 600 plus thousand followers and still spend a ton of money on ads just to do those type of numbers. So you need to really understand that if you're going to go the other way. But if you do these things I'm telling you right now, you'll be able to charge a lot more for your offer and you'll be able to sell a lot more of your offer as well. So now a lot of people will feel like, oh, the thing that I do or the thing that I'm passionate about does not directly correlate with health, wealth, or relationships, and that's totally fine. Um, what you can do is what we call dimensionalize the thing that you do. So, how that works is you basically make the thing that you do the mechanism to get someone from point A to either health, wealth, or relationships. For example, we had a client back in the day that all she did was make videos about paper crafts on YouTube. So she just did paper craft videos on YouTube, and when we did our research, we found that paper crafts is actually one of the ways that people use to reduce stress. So, what did we do? We made an offer where we told the mechanism of the offer is how to help you reduce your stress in four minutes a day, so that way we're still able to link the client's passion into health, which is reduce your stress. And in this type of example, we'll have targeted people who are in the peak of their careers, they are feeling burnt out, and so on and so forth. So that's kind of like the idea here. Another example of this is someone who does cycling. Um, I think his name is Ben Reid, he's a really popular dude, and he has a ton of clients, he makes a ton of money. And see how it frames it as helping you lose weight if you are a cycler. So you see what I mean? It's still focusing on a health problem, a health-based problem, but is making it so that you still solve the health, wealth, or relationship problem on the back end of that. See someone like manifestation coaches, loa coaches, um, law of attraction coaches. Literally, all they do is manifestation becomes the mechanism to get people to everything that they desire. So they're going to tell you that oh, if you follow this manifestation method, you're going to get the partner you want, you're going to get the job you want, you're going to get the body you want, and so on and so forth. So it's still a means to an end. That's literally the best way to explain it. What you do has to be a means to an end, and the end needs to be either health, wealth, or relationships. That's all I have for this video. I hope you found this very valuable. If you found value in this, make sure you like the video, make sure you leave a comment as well if you have any questions for me, and then subscribe so more people like you can get access to these videos, watch them and get value from them. Other than that, um, if you're a coach and you want us to help you scale and sign more of your dream clients, there's a link in the description that explains exactly what we do and how it works. Check that out, and if you're interested, we can have a conversation. So, thank you for watching. I'll see you in the next one. Bye.