The real purpose of building and running any type of business whether in the online or offline arena is to generate as much profits as possible. There are so many ways to make this happen. You can increase your sales, avoid spending too much on your advertising campaign, and avoid unnecessary expenses. You can also increase your revenue by increasing the tag prices of your offerings. If you can make a price increase of 10%-$35% every 18 months, you can be assured that you’ll generate your desired income. However, don’t get the notion that this is something that is easy to do. You need to be very careful before taking any steps. Do your homework and conduct research. You need to make sure that this will not hurt your relationship with your customers and that this will not do your business more harm than good. Here’s how you can make that happen:
1. First thing to do is to check the pricing strategies of your competitors. How much are they charging? Are they charging more for the same coaching programs that you’re offering? Compare your programs to theirs and make sure that your’s are far superior. You don’t want to charge less compare to these people as this will send a strong message to your potential customers that your offerings are inferior. So, follow their pricing strategies. If your research suggests that your offerings are far better than theirs, go ahead and charge more.
2. Consider the buying decision of your prospects. It’s very important that you target those people who do not have any problem shelling out thousands of dollars on your high ticket consulting services. You see, if you target those who are barely making both ends meet, you’ll surely have a hard time securing decent sales. Know how much these people are willing to spend to take advantage of your expertise in your chosen field. Never assume that they’ll spend less. You see, your customers might not be as cheap as you might think.
3. Offer better versions of your consulting services. If you’re way too afraid to increase your prices (just like most internet marketers), I recommend that you produce improved versions of your consulting services. Offer more tools, resources, and additional coaching sessions. Back them up with money-back guarantee, and communicate their unique selling preposition while targeting the emotional hot buttons of your customers. You can offer these for much higher fee. The good thing about going this route is that your customers will not feel that they’re obliged to spend more for your consulting services and that they have the option to choose which service they’ll buy. Don’t worry, these people are usually leaning towards getting the best products and services that they can get so you can be assured that they will take your consulting services’ improved versions.

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Do you want to learn more about increasing your online sales by adding a coaching program to your existing sales funnel?

If so, go here to begin learning: How to Increase the Tag Prices of Your High Ticket Consulting