How to Increase Client Fee, Part 2
In the last post we talked about how to raise fees with existing clients, but what do you do once they're done with your program?
Allow me to introduce the "Reverse Value Ladder".
The Value Ladder is a concept I first heard about from Russell Brunson.
The idea is that someone comes into your business, buys for book ($20)... Then they buy your course ($500), then they buy the next thing and the next thing...
It looks a little like this. 👇
The conventional Value Ladder
And this works GREAT for info products, but not so for service providers.
If you're a service provider, most of the people who will come to you, will actually invest in one of your more expensive products first.
You may feel like you "already made your money" on them...
But it's actually not the case!
The best can even be yet to come.
Instead of upleveling the service someone buys... As a service provider, you downlevel them to management.
(*And this isn't to say you can't upsell...)
For a health coach it could go from a health coaching package, down to a yearly check in, and down to support products and supplements (online group and affiliate supplements).
For a business coach, it could be a business building packaged, then downleveling to Facebook ads management.
Getting some ideas? :-)
And one more thing...
The Reverse Value Ladder - IDEAL for Service Providers
With high level services, sometimes it can help to do a demo call first.
It could be that someone doesn't want to immediately sink $5,000 with you and instead they want to make sure it works for them.
This was the path I took recently when hiring a a coach and I'm so excited to begin work with them. I got the opportunity to make sure it's the right fit.
I myself have even charged $250 for an initial consulting session, and if the person on the call becomes a client, then I roll that fee into their first month.
Win-win. They got to test, and if it wasn't a fit, you still got paid for your time.
Curious about how to increase client fees without losing them? Click here.