I'm often asked by coaches whether or not they should share their coaching rates on their website.
In the vast majority of cases, my answer is a firm "No."
Before I explain why, let's talk about the most common reason people give for sharing prices upfront: it allows you to filter your potential clients.
If someone is interested in working with you, but they're scared off by the prices on your website, then you don't have to spend time in an enrollment conversation with them.
At first this seems like a great thing. No one's time is wasted and you don't have to deal with the rejection. Plus, when someone does apply to work with you, that person is theoretically "pre-qualified."
So, what's the problem?
The problem is that until you have a full client roster, you really can't afford to do this level of filtering.
Let me explain...
Most coaches Assume That Potential Clients Are Made Up OF two groups
Group 1 can afford to pay your rates. Group 2 can't afford to pay your rates.
With this logic, it makes a lot of sense to list prices on your website. That way you never have to deal with Group 2.
But here's the thing. There's actually a third group.
Group 3 is made up of people who would NOT have applied to work with you if they had seen your prices upfront, but now that they've spoken to you they're willing to make that investment.
When you list prices on your website, you lose out on this third group of clients.
And guess what? When you're charging high prices, most of your leads fall into Group 3!
The Importance Of A Having A conversation Before Sharing YOur Prices
A properly executed enrollment call establishes value in the mind of your potential client. It allows you to clarify their situation, connect what they want to what you offer, and close the loop by helping them make a bold decision.
If your coaching sold itself, you wouldn't ever need to get on the phone with a potential client. You could just put a PayPal link on your site and wait for people to sign up. Some coaches actually try to do this and they fail miserably.
The reason that they fail miserably is because their marketing can't do all of the work for them. Most coaches just don't have the copywriting skills or the level of free content that's required to make this type of sale. They need an enrollment call in order to help their potential clients go from being theoretically interested to actually signing up.
Of course, a lot of this depends on the price of your offer. For example, I can use a webinar, email series, and sales page to sell my $997 course. But I have to get on the phone in order to sell my 10k private mastermind.
Okay, so hopefully at this point you're sold on the idea of not listing prices on your website. Is there anything you can do to filter out people who are broke without also losing the one's who just need to have a conversation with you first?
Here's A Question To Ask IN Your Application Form
Instead of listing your prices and packages on your website, focus instead on getting people to apply for a complimentary strategy session with you.
(If you need help booking more of these free sessions, try this.)
Towards the end of your application, I want you to ask a very simple question:
"Are you willing and able to invest in [whatever result your help them achieve] right now?"
On my application form, I use a multiple choice question for this:
Right now I...
a) Have the financial resources to invest in growing my business
b) Have access to the financial resources to invest in growing my business
c) Am not willing or able to invest in my coaching business
If someone chooses option c, I know not to schedule a session with this person.
When it makes sense to share your prices
There are only two scenarios when I would recommend sharing your prices:
1. You have a full client roster and you don't want any more clients
2. You have a course under $2,000 and have spent the time to set up an effective marketing funnel to sell it for you
There's actually one more scenario when you might consider listing your prices but I don't recommend it. If you sell cheap one-off sessions then you might be able to have people buy them right from your site. The problem with this is that you'll have to constantly sell more and more of these sessions in order to build a sustainable business.
In my opinion it's much better to have a complimentary strategy session and then enroll fewer people into a long-term, high-end coaching package where you can really make an impact.
What to do if someone asks for your prices
You're doing them a disservice if you make an offer before you have a conversation.
At this point, you're not even sure whether you can help them or not. You need to be able to ask them some questions first to assess fit and help them see the value of your service.
Here’s what to say if someone asks you for your prices:
Thanks for reaching out. I’m so glad you’re interested in learning more about how we could work together. Our next step would be to book a complimentary call so that we can both get clear on your specific situation and challenges.
My coaching is customized and I can’t provide a recommendation until I know where you are and whether or not I can help you.
If that sounds good, here’s a link to my calendar: [INSERT LINK]”
If after sending this they're still not willing to have a conversation with you, they're probably not a good fit to work with you anyway.