In Pricing

Donald Kelly, Petra Foster, The Sales Evangelist PodcastDo you sell your services by the hour? As entrepreneurs, business owners, or sales individuals, we’re okay with charging the lowest rate possible usually because we’re afraid we might lose the business if we charged them too high? But what if you could charge a higher rate and still earn that business every single time?

Today’s guest is Petra Foster, a Client Enrollment Strategist, and she’s going to share with us some insights into charging the right price which you can take to your business.

Petra helps salespeople to position themselves as the premium brand that commands high rates. Most of her clients start from at least $3,000 by creating packages that command the value. She also helps them master sales techniques so they get an immediate yes and take full payment right on the first call.

Here are the highlights of my conversation with Petra:

Strategies for selling high ticket items:

  1. Sell based on value not on price.

People think they need to charge their services by the hour so they’re selling based on price and not on deep-lasting transformation.

  1. Build your brand.

People need to position their offer and who they are in the marketplace. Being a brand is all about having a perception.

  1. The selling starts on social media.

The sales actually begin’s when someone sees you on social media. You need to be able to educate people  on their problem, that their problem can be solved, and that you’re the only person that can solve their problem.

  1. Focus on their problem and how you can solve it.

When you post on your social media platforms about your prospect’s problem as well as your solutions, that would heighten their problem and they would already pre-select themselves and book a call with you because they’ve already been pre-sold.

What happens when you focus based on hourly rates:

  • No commitment from the client so the person may not turn up every single day
  • You’re more likely to get missed payments.
  • You’re charging based on price and not on the transformation your clients go through
  • There is no end goal and no set milestones of what the person can expect when they work with you.

Why you need to sell high premium package price:

  1. Commitment

People take you more seriously. When someone is charging by the hour, what they paid is not a big deal for them and they won’t take your coaching seriously. If you charge a premium price, they’re going to turn up on time each session, they’re going to pay you one time.

  1. Results

They also get fast results and they’re going to be engaging with you more. Hence, they’re more committed because they have invested several thousand of dollars to work with you.

  1. Trust

When they pay you premium, that means they have to trust you and they need to hire you in order to achieve their dreams and their dreams are worth much more than $100 or $500.

Effective ways to find high-caliber clients:

  1. It’s not your business how much money someone has.

Your job is to educate people on their problem and not to know how much money someone has. That is not your business. Once you educate people and you’re offering so much value, then you will be attracting high-caliber people who are willing to pay whatever you ask.

  1. Continue using social media.
  1. Go to local networking events.

All you’re doing is solving a problem. You are a problem-solver first. Then when you’re able to connect with your audience on an emotional and deep level, they will pay you.

Strategies to make your packages irresistible:

  1. Understand who your target market is.

Understand what you like and the type of people you want to work with and the personalities you like. So understand who you are as a human being and what lights you up.

  1. Have an extremely compelling marketing message.

Have an emotionally charged message that clearly states who you are and what results you can give to your clients. Don’t be afraid of giving a very clear promise so you can attract people who want that solution straight away.

  1. Have a seamless sales process.

Get someone on social media to go through your pre-qualifying phase and book that consultation with you.

  1. Know how to have collaborative sales conversations that end with a yes or no.

You never want to get responses like they need to think about it or they need to speak to their partner about it but you want them to have a clear yes or no on the call.

Strategies for having a seamless process in place:

  1. Start with your brand (what you want people to think and feel about you)
  1. Know how to book consultations based on what medium you use to deliver your message.
  1. Prequalify your prospects.

They should go through an application process before they even speak to you. And you decide whether you want to speak with that person or not.

  1. Have a specific call structure.

During the call, don’t just wing it. You have to have a specific structure right from the moment they say hello all the way to the end.

Petra’s Major Takeaway:

Stop charging by the hour. Believe that you have ideal clients out there that want to pay you high rates. You’ve got the training, the experience, the expertise. You are worth so much more than what you are charging for right now. Don’t make it a big deal. Charge what you want and then know exactly how to sell.

Episode Resources:

Get in touch with Petra on www.petrafoster.com/podcast and download her eBook, How to Create and Sell Premium Packages to find out about the exact system she uses for her clients to sell premium packages.

The Sales Development Playbook by Trish Bertuzzi

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