I get this question all the time from aspiring coaches.
“Hey Sai, how do I package my coaching program so that my audience buy it? “
When I hear a question like this I know they are far from scratching the surface. The problem isn’t learning about how to package your coaching.
This is a symptom of a bigger problem.
So for 8 years, I have been helping coaches build their businesses and scale them further. I have seen all coaches go through the struggle of packaging their services, and not being able to sell them. What they ideally do is, they build a low ticket coaching program and then try to sell it to their audience.
Now, selling low ticket products is not an issue. A lot of top coaches like Tony Robbins, Les Brown, Brian Tracy and other big world class coaches do that.
But the problem presents itself when you are starting out as a new coach. Or are making monthly income which is less than $5000 a month. Selling low ticket products and making bigger money every month becomes difficult.
The real math of selling coaching packages
Let me show you a very simple example of this which will help you understand how and what to focus on.
If you want to generate $20,000 a month from your coaching services, hop on to my seminar which I am conducting this week, and I will show you how. So if your coaching package prices at…
$200 (per hour or per package) x 100 units of sales every month = $20,000
But, if your coaching prices at…
$10,000 (per package) x 2 units of sales every month = $20,000
Now the next question that arises which I get from a lot of aspirant coaches-
“Sai, but is it possible to make that kind of money as an aspiring coach“
Hitting a $20,000 mark for every month of coaching sales is very much doable.
I mean, you can see from the example mentioned above that it is not rocket science, it’s simple math.
But that doesn’t mean that you can’t make enough money selling low ticket programs of $200. I mean sure you can, but it’s very hard to get any tangible results. If you are starting out as a new coach you shouldn’t be optimizing your business for volume. You should be working more towards the ticket size.
Which means, keep your prices higher and sell less (and make more money). VS selling less and doing more maintenance work (and make less money).
But that is a different explanation of low ticket vs high ticket, we’ll get to that but before we move there…
Let’s first drill it down a little more and see how much traffic we need to generate for $20,000 revenue every month.
How many website visitors do you need to generate $20,000 revenue every month?
If your product is $200 / you would need 10,000 visitors on your website
(100 customers buying your product)
If your product is $10,000 / you would need 200 targeted visitors on your website
(2 customers buying your product)
(assuming if the conversion percentage is 1% which is modest and industry standard)
Now, I know it’s tricky for any new aspiring coach to get 10,000 visitors on their website in the starting phase. But I bet that you know how to get targeted 200 website visitors on your website. And then convert them to buy your coaching packages.
Right now I am not even factoring in the refund percentages and the amount you need to spend on ads. To get a new customer to buy your services (also known as customer acquisition costs).
But let’s keep it simple. If your products cost less, you will have more customers and more people in your systems. Which means it will bring more customer support queries and more attention. Which in itself is an expenditure when you are running a business.
That’s why high ticket coaching packages make sense…
I will also give you the structure of how to package and sell your high ticket coaching services.
But before that let’s run through exactly what the mindsets of low ticket coaching customers vs high ticket coaching customers are…
Low ticket coaching packages are the ones that are priced at less than $2000, while high ticket coaching packages are the ones which cost more than $2000.
The Mindset of low-end clients vs high-end clients
a) Mindset: I think the mindset is a HUGE problem with low ticket clients. They are not operating as a top performer and that’s the main problem with them.
b) Window Shoppers: Low-end clients are usually looking for free upgrades and aren’t serious buyers. Their buying intent is very low, so they are always in window shopping mode. Which means they aren’t serious about your product or service
c) High Admin Costs: More customers in the system means you will have a larger number of refunds and customer queries which is a cost for you as a business owner. You will have to get a dedicated person who can take care of their product related queries.
d) High Negotiation: They continually test waters to see what is free, where can they get discounts, bonuses, and other offers. They tend to negotiate for everything and that makes it even more difficult to manage them.
e) Complaining mentality: They complain the most, and compliment the least.
f) Refund rates: Refund rates are very high in this bracket. Over the years our research has found out that the refund rates for low-end clients run from anywhere between 10% to 25%. For a business, that’s quite a number.
g) Implementation: Their ability to produce a consistent outcome is very low.
h) Upsells: They aren’t willing to buy your coaching packages and other upsell related material.
a) Have the ability to pay: They always put substantial money upfront, and that’s why they are more invested in you. They rarely complain. In fact, they are very collaborative and will give you constructive feedback to improve your product
b) Take Action: They are action takers and will work tirelessly. They are your dream clients.
c) Low Admin Costs: Since you have a low number of customers in your system, you will get fewer complaints. They watch all your videos, do the homework and show up on time.
d) Upsell friendly: Since they have the ability and the willingness to purchase they always go for your upsells.
e) Zero negotiation: They don’t negotiate on price. But you will notice these guys negotiating the value delivery of your product. Which you should prepare for.
f) Word Of Mouth: They are the best referral system that you can set up for your product, they will help you spread the word to other ideal clients and will help get you more customers. They will give you the most number of testimonials in public places.
g) Ownership: They take ownership of their own results and don’t blame others for their own lack of effort.
h) Habits: One thing I have noticed is that all high-end clients are high-end clients because they have healthy and high output habits that get them to be there, and that’s why these guys are good for you your business.
Our interesting in-house experiment
I am telling you this particular story to hammer in the point of low-end clients vs high-end clients.
So a couple of months back in our main program “Elite Coaches Mastermind”, we had a payment plan. We used to accept payments in an easy to pay option of $997 per month. And for some reason, our refund rates and payment follow up was super high.
We had 30 clients who were on a payment plan. But the whole process of collecting payment from them was getting very cumbersome. It increased a lot of admin costs for our customer support department.
Interestingly, I was speaking about this to my financial advisor and he suggested me to increase the price of our payment plan. I nervous about doing that because I thought maybe this could get us in a ton of problems and wasn’t the right way out. But we still went ahead with it.
To our surprise, when we actually implemented this, our admin costs decreased. And our payment decline and follow up declined to one person.
So we realized, that for high-end coaching make sure that you don’t aim for less than $2000. Else you will have the same kinda nightmares that other low ticket coaches have.
But let’s move on to the next thing of structuring your high-end coaching packages.
The high ticket client delivery system
So to get your high ticket client thing moving you need a structure in place that helps you get to the mark of $20,000 a month.
We have tried and tested a lot of coaching models. Yet somehow this model seems to work the best for us, and for our coaches as well who join Elite Coaches Mastermind.
If someone is paying you 10,000 dollars an hour, you need to have these 4 components in your coaching delivery system. To build up the value for your coaching client.
So let’s run through the following things in that order…..
1) 1 on 1 session
When you are starting out with selling high-end packages, you need to add a mindset shift. You are providing services to your clients for per hour pricing. it’s about giving them value for the money that they are paying for.
Whenever I do a coaching session I always block out close to 2 hours of my time. I don’t want my clients to think that they are time-pressed and I don’t want them to worry about every minute by the hour.
So you want to focus on results, and a good idea is to communicate it to your client.
You need to have one on one sessions with all your high ticket clients to make them feel
valued and feel as if they are part of something bigger.
Takeaway: No hourly sessions, outcome-based sessions.
Next up in the line is creating a membership site. For all the coaching that you provide you want to have a go-to manual, videos, worksheets and pdf for your clients. When they don’t have their one on one sessions with you, they can go back and revise on their own.
It would be even better if they start consuming material before every coaching session.
Usually, the content of your coaching and your membership will overlap by a fair percentage (60-70% by a fair number). You can run them through a module for every week.
Divide the membership and content program on a week to week basis and unlock things as they move forward in the program. With the membership format, you can distribute your coaching modules from 4 weeks to 12 weeks at max.
Takeaway: Clearly define outcomes in each module.
Recommended tools: Teachable is the best tool which we have used for creating membership courses.
We do this through our private Facebook group, where all our students are present and report their progress for our coaches to evaluate it.
We usually partner 2 coaches with each other so that they help each other grow their practice. This way it keeps everyone stimulated and will help your customers grow as well.
Weekly Q and A’s
Once that happens, you can keep adding weekly Q and A calls in the vault section. Before asking questions your users can run through your questions bank. Usually, I have seen that most of the answers will get covered there.
How to package your high ticket coaching package
Another high-value skill which every coach needs to have is to learn how to do the research and copy for your coaching packages.
Usually, I have found that coaches build their packages in a very confusing manner. Because of which the coaches are not able to create relativity with their clients. Hence, selling your coaches services becomes difficult.
Before building these packages you must ask yourself questions in a very sequential manner. Build answers for them because this will become your base for creating coaching packages…
Questions that you must ask yourself
- What is your niche?
- What are the core pain points of your coaching clients?
- What are their deepest desires?
- Figure out 3 competitors from your coaching niche?
- What are you going to name your coaching program?
- What are the core pain points your program will be solving?
- How many modules will you have in this coaching program?
- Clearly name each module and their outcomes?
- What are the core outcomes your clients will be getting? (Make them measurable and specific)
- In a single sentence what should be the outcome of your program?
- Why do you feel you’re good enough as a coach to deliver the coaching program?
- Make sure you ask yourself the right questions about your business model. So that you can be confident and certain while asking your clients the right coaching questions.
Learning how to create your coaching packages
- Creating relatability through marketing
- Process vs outcome.
- Structure of your program.
Creating relatability through marketing:
If you see around and look at all the mass market brands that you have in your daily life. There is a reason why someone is so compelled to buy them.
For example, you have Nike with “Just do it“ or Apple with their portrait iPhone.
With every great product, there is great marketing behind it. But most of us usually HATE that word when it comes to building coaching practice. We feel it is something that can only coaches can do and requires deep domain expertise.
If you want to become a world-class coach, then this mindset is the first thing you need to get rid of. The reason you have your coaching niche is that someone needs your services. But you need to make it more relatable to them in a way that they understand and buy your services.
Create your packaging material in a language that your coaches dream clients to use. It is 10x more powerful than creating something by working in isolation.
It’s almost like having the beginner’s mind and thinking about using the exact same words, phrases, and scripts that your clients use when they explain their problems.
Use that same material and make it relatable in a marketing sort of way.
So when you create any material, try to use your clients’ verbiage and reward that into your packages. That’s the best way to make them take action on your coaching packages.
Process Vs Outcome.
Coaches often get carried away with their own processes. So much that they forget the main essence of coaching. Which is to create relatable material which clearly defines outcomes for the buyer.
Some of the top mistakes which I have noticed is mentioning coaching techniques and processes instead of outcomes. Things like telling them that NLP will help them with their personal relationships (because you assume that your clients know what NLP is?)
As part of creating high ticket program packages, you should be writing down outcomes that your programs have. Always remember to talk about outcomes.
So, for example, imagine your client has come to you because they are experiencing anxiety in their first workplace, and your program tells them…
“Go beyond fear thinking it stops you from opening up through 2 vital shifts in your self-perception that will help you create healthy social bonds easily”
“Tune into your real self through mindfulness and NLP to gain confidence”.
You see the impact the first sentence makes versus the second one? The second one is vague and creates that sense of “okay, this is what I am getting” while the first one creates that sense of “Yes, this is exactly what I wanted but I didn’t know it” in your niche audience.
There’s another way to look at this.
You see the first statement was a mix of the “what” and the “why” – Go beyond fear thinking that stops you from opening up through 2 vital shifts in your self-perception that will help you create healthy social bonds easily.
The second was a mix of the “how” and the “why” and not only that, but the “why” is very weak –
Tune into your real self through mindfulness and NLP to gain confidence.
Remember this. Make your outcomes strong by keeping them tangible.
Here are 3 tips to do this:
- Avoid vague terms such as confidence, success, happiness, fulfilment, etc. These are subjective and mean different things to people. Instead of saying “gain confidence”, you can say “identify and transform self-doubt”. Instead, of saying “start a successful business”, you can say “make 5 figures within the first 3 months”. Keep it real, folks!
- Contextualize your ‘what is’. For example, you are coaching someone to see a bigger vision in their business, and are going to have them do a gratitude journal every day for it. Instead of saying “Learn to look at what is working in your life by writing a gratitude journal every day”, say “Switch from the tunnel-vision in conducting your business into a bigger vision through gratitude journaling”.You see how powerful the latter sounds? They may already be aware of gratitude journaling and its merits. But may have never seen the importance of it because it was never correctly contextualized for them.
- Avoid using “learn how to”. Coaches get paid for transformation, not for the knowledge of transformation. And this is a very important distinction. When someone wants to learn how to do something, they can go read a book or take an online course. Why do they need you for that?
More so, why would they pay high-ticket if you’re going to teach them? So instead of saying “Learn how to have a conversation with your boss”, get them to do it. “Turn powerful conversations into a habit”. Remember – the transformation is in the action.
Your high ticket coach will keep encouraging you to get you focused on the outcome. Be open to looking at things from your client’s perspective.
Structuring the program
Now, this is the most important phase. Think of how you will deliver on your promises as a coach. You have got to be very clear on how you will be doing that. Showcase a step by step format to your prospective clients.
Charting out all the steps that your client will go through, will give you and your clients clarity.
Marketing tactics to focus on for selling high ticket coaching
There are a ton of ways you can think of to sell your high ticket coaching. The best ones that work out for us is through Facebook ads, blogs & google ads.
And it costs us close to $150-200 to get one customer.
Once you get the initial traffic, getting them on the webinar is the best way to sell high-end services. Or get them on the phone once they qualify through the webinar application process.
Usually, we have found that the webinar close ratio comes out to be 7 applications to 1 final buyer.
Are You Ready To Become A Coach?
Yes, you are…of course, you are.
So why are you waiting?
This is my webinar:
Because of the demand for the webinar, the seats will be filling up very fast, so please make sure that you register as early as possible.
I don’t want you to miss out on it because you were lazy.
I will see you on the other side :).