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Monday
Dec132010

Is It Time To Change Your Fees And Receive Your Worth?

by Linda Chollar

Do you have issues with fee setting?  If you’re like most holistic service professionals then you likely have a one-price-fits-all business model. Not only does this limit your income but it also limits the number of people who will engage withyou. People like options and choices.

When is the last time you increased your fees for your services? Many wellness practitioners are hesitant to raise prices because they fear they will lose clients.  For others, it never occurs to them to adjust their rates because they are in a rut and don’t know how to make the shift. This is neither fair to you, nor your clients. 

You deserve to charge what you are worth, and your clients need to be called forward to invest in themselves, even though it may sometimes feel like a stretch.  The more that people invest in a service or program, the more likely they are to take it seriously, do their part, and actually report satisfaction.

Take a good look at your business and determine if it really is time to make some changes and raise your fees. Some of you are thinking, “heck its not a good time now with this economy!” Well, I have news for you – it is the very best time to make changes, add more price selections and yes, raise your prices. Here are four tips to help you take the next steps toward receiving what you are worth.    

Tip #1: Value Your Results & Solutions.  Your clients are investing in the incredible life-changing results that your services help them achieve, not the amount of time they spend with you.  They’re coming to you to learn how to improve their health and get relief from stress or pain. Ask yourself “what are these results worth to my client?”  When you connect to your real value, you’ll have an easier time raising your fees. Have you heard it said, “You just can’t put a price on health?” That means it’s a valuable commodity and price is a non-issue if you are focusing on and giving the results your clients really want.

Tip #2: Create Options.  If you charge by the hour or 30-minute session, this is called “hours for dollars” and creates a ‘cap’ as to what you can provide in service or expect in income. Creatively package your services and offer 3-4 options at different price levels based on what your clients need and want to achieve. Then, they get to make the decision of what to spend and why.

If you provide other modalities (e.g. facials or massage), integrate and create more options. When adding selections to your menu describe the results they can expect. Wellness programs should have a defined outcome, directed toward your client’s needs. For example, design a series of sessions for chronic pain, fibroymyalgia, plantar fasciitis, etc. The following are some ideas for naming services, based on how you package them.

Single session ideas:  You Deserve It, a 60 min. foot reflexology for deep relaxation of mental or physical stress; Pain No More, a 75 min. reflexology with hot towels or stones added (and explain why this adds depth to your treatment); The Works, a 90 min. session including aromatherapy, hand & foot reflexology, hot towels, and…

Wellness Packages or Programs
are a series of sessions that are pre-booked and pre-paid. Some ideas: Starter Pack of 3 specialized sessions; Empowered Health Pack of 6 Sessions; Health Makeover of 12 Sessions (note the huge savings with this package and let them know appointments must be booked within a 6 month period).

The first step is to brainstorm and plan your services, packages and fees, around YOUR ideal client market and what they need and want. Not sure what an ideal client is or how to know their wants? Get my FREE ebook, 4 Steps to Identify Your Ideal Client.

Presenting the Options

It’s easier for new and potential clients to begin working with you if they have a selection of services rather than only one service option. The decision then is not whether to use your service, but which offer makes the most sense at that time

When you present your prices, convey confidence. Phrases like, “Let me know if these rates suit you” or, “We can adapt this to fit your budget” all say one thing to clients: “I hope you’ll pay me what I’ve asked, but I’ll easily work for less.” Simply say, “I charge …”  or, “My fee for this package is …” or my favorite, “This is the best value and one my clients often choose …”

Tip #3: Use Client Testimonials.  Hearing other people’s success stories motivates people to use your services. Showcase your most outstanding testimonials on all your materials, including your website. Ask satisfied clients to write you 1 or 2 sentences about how things were before they met you and what results they have had with your service.  As clients choose to invest in your wellness packages and see the results, ask for a blurb on how it made a difference by having a series of sessions. Make sure to creatively spotlight client comments wherever you can. I’ve used a little desktop memo board (the kind with a wipe-off marker found in gift shops) and I add a client quote each week.  Clients even write their comments on the spot after a session! They love it!            

Tip #4: Highlight Your Expertise.  Walk your worth and toot your own horn. Communicate to clients that you are continually investing in your personal growth and education.  The more they respect your expertise and trust that you can solve their problem, the more they are willing to pay for your service.

How To Put It In Action

What new offers can you create for your ideal client market right now so that they  have a selection?  How can you put these in place quickly and effectively? How can you transition your clients into a new pricing structure?

It could be that you begin by offering your increased rates to new clients at first. If you are only providing single sessions now at a set rate, you may choose to keep those intact for your ‘charter’ clients but let them know about your price changes and new options that may interest them. Tell them you’ve hired a personal business coach and are doing some restructuring of your services to better serve your clients.

Your existing and new clients will respond and feel like they are receiving more value by being offered a ‘wellness program’, namely a series of sessions at a great savings. A variety of services also opens the door for clients to buy more gift certificates for friends, which naturally brings you more clients.

You will have a much easier time convincing your clients that you’re worth your rates IF your service is outstanding OR you increase your potential to deliver results by building your skill-set and capabilities. Part of charging your dream rates is a personal transformation into the kind of wellness provider that always deserves more than they are paid.   

If you’d like some guidance creating and pricing your services, I have just the solution for you.  You can purchase my 3-session Mentoring Program, Packaging Your Services & Setting Fees. You get 3 phone mentoring sessions with me and email support between each call. I will guide you to create a fee structure you deserve, design service options for your clients, develop 1-2 packages you can offer right away and set up a system to implement the changes. I provide you with templates for emails and letters with the exact words to inform your clients, so they will be excited about your new offers.               

Not sure of your next step? Take advantage of my Free “Discovery Session” 30- minute phone call. We will talk about where you are NOW in your new or existing practice and discover what the next step could be to take your business where you want TO BE!  Let’s talk and see if my style is a match for you. Based on your goals, I will suggest a coaching package and explain the steps to get you in action.  

You can receive the abundance you deserve in exchange for your contributions to health and healing in the world.