Income Strategy #12: Turn Your Offers into Packages
I couldn’t avoid it any longer.
I was snowed in for the rest of the week, with nowhere to go and no more excuses. My very first coaching client was eager to get started. And I knew I had to get a response to her fast.
That meant I had to create my first-ever coaching program, or ‘package’.
Why?
Because even though I’d never worked that way before, I’d knew that packages were key to building a successful coaching practice, and serving my clients best.
Because packages change EVERYTHING in your business.
1. They allow you to offer more to your clients – more value, greater benefit. They will actually get better results when you package what you offer to them in the right way.
2. They create a way to build loyalty, and establish a deeper, ongoing relationship with your clients and customers by inviting them to work with you over time.
3. They enable you to stabilize your work flow and your income. Your deliverables – that is, what you actually do for your clients – become more standardized and structured, and the way they pay you does, as well.
4. They help you build credibility, and stand out from others in your industry. Unless you run a cable company, this may be a new idea in your field, especially for those of you in professional or service-related fields. (Like attorneys, therapists, energy healers, hairstylists, massage therapists, realtors…) Those kind of industries almost never think this way. You will be unique.
5. And the best part? Packages help you increase your income by leveraging the services that you already deliver in a more powerful way.
But what is a “package” exactly?
Essentially, it’s a collection of products and services you bundle together as a single offer, and deliver to your client as a whole.
And it’s a collection designed in such a way as to provide more ease for everyone, more income for you, and more real value for your clients.
I came from a counseling background, where no one thinks beyond their hourly rate. But I learned years ago how limiting that was, not only for myself but for my clients.
As one of my coaches, B. Michelle Pippin, used to say, “you should charge for the difference it makes, not the time it takes”. And I knew what a difference coaching could make.
So creating my first package on that snowy day was important – but tough. By the time I finished, I had a whole pile of papers on the floor, wadded up and tossed as I went through one idea after another.
That was then. Today, my private clients will tell you I can turn almost anything into a package. In fact, this is one of the main things we work on, and it’s often a game changer.
I’ve seen everything from a $30,000 branding package for high value corporate clients, to a $500 package for pre-marital counseling clients.
But there’s a lot to learn about building packages that work best for your particular business, and your particular audience; much more than I can fully address here.
So for now, just know that – large or small, simple or complex – they need to be created with care.
Here’s a quick list of seven points to consider when you put together your first business package.
CONTENTS: What exactly will you offer? What kind of training, experience or guidance will your clients and customers get? What kind of tools might they have access to?
CONTACTS: How much time does the package offer? A day? A week? A year? What kind of access (length of time, frequency, etc,) will your clients have with you?
CLIENTS: Who is this package perfectly suited for? Who would benefit most from the way you’ve put it together?
COOL EXTRAS: What kind of additional luxuries or VIP Elements could you add to your premium packages? What about add-ons that bring in more value to even your most basic package?
CREATIVE NAMES: Please don’t use names like “my 6-month package”. Create enticing names that build excitement for your buyers.
COSTS: What kind of pricing or payment options will you offer? What about refunds? Guarantees? Bonuses?
CALL THEM FORWARD: If someone buys your package, what’s their next logical next step? How does this package fit in to your overall business, and where do you want them to go next?
To make this easier for you, I’ve created a Package Planner tool you can use to begin hashing out each of these elements. Click here to get instant access to that worksheet.
And tell me:
Are you using packages yet? If so, how has that impacted your business?
If not, what’s holding you back?
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