Energy Prices Are Rising… Are Yours?
04 May 2022
04 May 2022
Can you fix someone’s problem in one session? If you can, then you need to be charging a lot for this! But if you can’t – which most of us can’t (not because we’re not talented at what we do, but because of how we know the body works and the lifestyle people are living) – then why do you have a PAYG model in your business?
When we ask our Thrive coaching clients why they chose to run a specific business or pricing model for their clinic or studio, the answer we get back is usually: ‘I looked at what everyone else was charging and charged slightly less or the same’.
Pricing decisions, however, as well as planning on how you are going to work with clients has to come back to your business strategy, your goals, and the outcomes your clients want and need.
If you think about your ideal client, what do they need in order to get the outcomes and results that they want?
Don’t think about price here, just write down what you would want to deliver to enable them to have better health, less pain, improved flexibility, the ability to play with their grandkids, etc.
Then think about what’s getting in the way of the client achieving these results? Perhaps it’s a lack of accountability? Maybe it’s having to stop the prescribed exercises because of life getting busy? Or kids getting ill? Or work being stressful and then cancelling their appointment and failing to re-book?
Most clients need to make long-term commitments to their health and wellbeing, with regular checks and adjustments from a health professional such as yourself. As such, altering your treatment options to funnel clients towards membership packages and wellness programmes not only leads to better treatment outcomes, leaving you as the go-to expert, but it will also help with retaining clients, multiplying their lifetime value and growing your revenue.
Rather than doing this, though, so many of us price one session at a time, simply because we think that’s what everyone else does, so we follow suit. Or we think that people won’t be able to afford money upfront for a program of treatment. This, though, is only a reflection of your beliefs around money (not your clients). However, when we make decisions from a place of fear or from our own money thermostat, we undervalue our service and worth.
Moving your payment model towards long term commitment (only if that’s what your clients need, of course), or recurring revenue models will transform not only your income, but your client results, your time management, your cash flow, and the resilience of your business.
If you lead with value, success will follow.
If this has resonated with you and you want to find out more about how you can adapt your pricing models, whilst also finding out what your money thermostat is, you can book a completely Free Business & Marketing Audit for Clinic Owners, Therapists and Pilates Instructors with Thrive today.
Simply follow this link to book your audit with our coaches, who are experts at working with business owners in the health and wellness industry. We will spend an hour together, digging deeper into your pricing, money mindset and much more, and finish by putting together a clear 30-day plan of action that you can use to change things around.
Thanks for reading!
CEO & Founder of Thrive Health & Wellness Business Coaching