24 Apr 3 Things You’re Going to Face When You Raise Your Rates
This post is about the 3 things you ‘re going to face when you raise your rates and how to navigate this process with integrity while still sticking to your worth. This is for you if you’re rolling out a high-end offer of your services that feels aligned but is just not selling. If you like this, make sure to get in real-time touch with me over on my Facebook community, Soul-Level Shifts, where I do weekly free trainings on topics just like this one. You can also follow my life in Bali on Instagram @heyelainaray and DM me anytime to say hi! Btw every year I launch a business mastermind for entrepreneurs looking to grow to 6-figures and beyond, so stay tuned to find out when the next round launches. If you’re interested in strategic 1-1 support, you can also apply for a 6-month mentorship. I would love to work with you now or in the future! Drop me a line if this blog helps you. ~ Elaina
High-end for you might fall anywhere between $3K-$10K, but whatever it is, it’s definitely a growth edge in your business.
It’s new for you, so you’re getting no’s, money objections, and people ghosting you before/after sales calls and you’re starting to wonder if you should change your offer, your niche, your prices, your marketing methods, the words on the banner on your website, etc.
This is one of the things I love problem-solving with my clients and then seeing them start to own their worth and land high-end dream clients from a heart-centered and aligned place.
? 1. You’re going to hear no. ?
Hearing “no” to your offer is normal. There’s two things to do about it.
The first is to not overreact and start tearing things down in your business.
Some people aren’t going to be able to afford your rates. Some people aren’t good potential clients. Some people aren’t ready. That’s all normal and okay.
In these moments of “no,” you want to recommit to your vision and not start questioning your offer or your readiness to play bigger or your niche or your business in general.
Instead, you want to decide that you’re okay hearing no and you’re not going to take it personally every time and that there are an abundance of potential clients who want what you have to offer.
You decide you’ll take as many no’s as it takes to get your yes’s.
The second critical thing you want to do is take an assessment of where you can TWEAK (vs tear down) your strategy and show up more powerfully in your business.
This involves taking radical responsibility for your results.
? Where can YOU make a clearer offer?
? Where can YOU articulate the value of working with you better?
? Where can YOU handle their objections more thoroughly?
? Where can YOU follow-up like a boss?
? Where can YOU streamline your sales process?
? Where can YOU tweak your marketing message to get better potential clients on the call?
If only “people who can’t afford it” are showing up on your calls, I gotta break it to you: you’re calling them in with your message. Where does your marketing get to shift to attract higher level people with the higher level problems you desire to solve?
? 2. You’re still going to get money objections. ?
Those don’t ever go away entirely forever and ever. The truth is people get nervous about investing high-end and committing to solve the biggest pain point in their lives that they’re hiring for — even people who are an ideal client and a really good fit for what you do.
Only a small percent of the people who are meant to work with you are going to be an easy “yes, this just feels so right, here’s a pay-in-full kind of thing.” Your job is to help the other large percent navigate their objections and hold a space for them to make a decision, not awkwardly go “okay you can think about it and get back to me, bye!”
That’s not a coach! That’s not someone they can actually lean into and really springboard ideas and fears and uncertainty and their visions off of!
The person with a money objection doesn’t need to be pressured into making a decision either — they need someone who can hold the space for them to examine their decision-making process and to point out their blind spots and show them a higher standard and vision of themselves and have the courage to do that confidently.
So how do YOU navigate this?
In addition to getting used to holding a confident space to explore your prospects’ objections, you also must know that money objections are usually never about the money.
What the real issue is: the prospective client doesn’t trust themselves, trust you, or they just don’t get the offer and how it’s going to help them get the results they want.
The best thing to do is PREVENT money objections by having a very clear offer that’s backed by lots of market research and honed in on a marketable niche.
You also want to have a robust PRE-SALES strategy in your business:
? How do you take someone from first point of contact with you to happy graduated client?
? How do you nurture and build relationships with your ideal clients?
? How do you market yourself in diverse channels?
? How do you speak clearly about what you do and who you serve across all of those marketing channels?
? How are you building brand recognition?
? How can you show up with more visibility?
If you’re getting a lot of money objections, you need to be able to handle what the real issue really is — both for the prospect in front of you who’s on the fence about investing with you AND the real issue in your business that’s causing people to have that reaction to your offer in the first place.
Also, side note, you may not be speaking to or creating an offer that’s about the REAL problem your people are facing.
Example: you might be going on and on about how your program helps your clients reduce stress and anxiety. But you’re not speaking to what they REALLY want, which is on the other side of that stress, like a massive promotion at work, a 6-figure business of their own, or a soulmate partner. One is so much juicier and more alive!
? 3. You’re going to compare your offer to someone else’s and second guess it. ?
This is a very human thing to do. And it leads to you thinking things like:
“Omg Coach Suzie Q is charging $10K for what I’m doing. Who does she think she is… but maybe I should raise my rates too.”
“Omg Coach Johnny J is only charging $1500 for what I do, maybe I should lower my rates.”
Your rates need to be aligned to your experience, your specific niche, the problems you’re solving, and your money energy.
Just because every other person in your field has a 3 month $3K program doesn’t mean that’s what you should sell.
COOKIE CUTTER STRATEGIES DON’T WORK.
You should sell what makes sense for YOU and this is something I help each of my clients customize and get very clear on their pricing as individuals and unique business owners.
If your price is not aligned to you specifically, it just won’t sell.
So don’t keep your rates moving up and down and changing every 3 weeks because you’ve got a finger on the pulse of what everyone around you is selling and you’re trying to price based off of that or price based on how the last discovery call went or what some friend of yours who isn’t even in a place to provide feedback on your business told you.
Choose a rate that makes sense for the value of the transformation you provide, tweak what needs to be tweaked in your business to support that offer vs. tearing things down after the first “no”, learn how to hold the space to handle objections at a deeper level, and just. keep. going.
This is just a high-level overview of some of the biggest challenges when you start to sell a higher-end offer and how to navigate them. Hope this helps!!
Did this article help? DM me on Instagram and say hi and tell me what resonated! @heyelainaray