Do you know what your biggest obstacle is when it comes to raising your prices?
It’s not your competitors, or your market, or anything else.
It’s your own attitudes and behaviors.
See, if you have the right mindset and know what you’re doing and what it’s worth is to your community, then you should have no problem raising your prices.
Knowing what you’re worth is crucial to having a successful business. The second you undervalue yourself is the second everyone else will, too.
As the leader of a fitness community you are changing people’s lives every day. Don’t underestimate what that’s worth.
If you needed a heart transplant would you go to the cheaper surgeon that doesn’t have much experience and expect the same results?
NO! You pay the big bucks for the best surgeon that will guarantee good results, a longer life, and personalized treatment.
YOU are the surgeon, so make yourself valuable and charge what you’re worth. Here’s my guide on how to do that.
Don’t Drop Your Prices
DON’T. DO. IT.
Too often I see personal trainers and boot camp owners suddenly dropping their prices because people are complaining about how much their services cost.
You know what else I see? Those businesses struggle until they raise the prices again, or go under completely.
The second that you drop your prices is the second that you drop your own value.
This is called price erosion, and you know what happens when you let price erosion go on too long?
I have the perfect example.
There’s a gym chain I won’t name (you know who) that specializes in having $10 monthly memberships. They also specialize in bagel and pizza parties for their members and kicking people out if they look too in shape.
They make their money by appealing to the cheapest, laziest side of people, because guess what?
People who only take the lowest bargain also happen to be cheap and lazy, so the minute you start building your business around them the whole thing just becomes a race to the bottom.
Here’s the truth of it all: charging more money forces people to take you more seriously.
When people are paying $10 for access to a facility, they’re less likely to even go or work very hard.
However, when they’re paying your high-end rates, they aren’t going to miss sessions, and they’re definitely going to push themselves to be the best they can.
You can’t let people negotiate you down, because the people who respond to that will take advantage.
Those types will ask for lower rates and then not put in the effort for the money they’re spending. You are worth more than that, so stick to your guns and the right clients will come to you.
Build Up Your Selling Skills At Your Current Price
You can’t just jump in to being a high-priced trainer; it’s going to take some time and authority first. Get your clients amazing results, ask for referrals, and put your testimonials up everywhere.
You’ll build up a library of evidence that you deliver what you promise, and then people will trust you enough to buy what you’re selling.
Once your close rates hit 80-90%, raise your prices until the close rate drops to 70%, and then go back to building up your selling skills. If you’re not closing people, it’s not because of your prices, it’s because you need to work on your selling.
One very important thing to remember is that you must NEVER raise prices on current members. Grandfather them in.
Let them know “Hey, I’m raising my prices, but I want you to know that I am locking you in at your current price as long as you stick around.” Your clients will appreciate this and even encourage people to join before the price goes up.
Prove that you are worth more so that you can charge more.
Make Yourself A Valuable Part Of Your Community
Make sure that everyone knows your name in your community. When people think of you, they should think of how much you’ve contributed, either through health and fitness or just doing some good for others.
Get in the local paper or on the local news. The thing is that if your goal is to eventually end up on national television you need to start small and work your way up.
Write press releases, or hire someone to do it for you. Submit these stories to newspapers and television studios, and do it in person.
News outlets constantly need content, so if you come with a giving hand it’s easier than you think to get a spot.
So why should you do this?
That Know, Like and Trust factor I always mention.
When you show up everywhere, make your community better, and keep delivering amazing results, people will be more inclined to trust you.
You must make yourself the fitness celebrity in your circle. Make it so they won’t want to go to anyone else, because YOU are the one they saw on the news last night with an unbelievable transformation story.
As soon as you prove your value, people will be ready to pay you what you’re worth.
Show Them You’re More Valuable Than Big Box Gyms
You and I know that big box gyms don’t really care about their customers. And I say “customer” because they aren’t family members, they are another person paying them to maybe use the facility.
Big box gyms don’t really want their members to use their facilities. The truth is that if every person that had a membership actually used it there wouldn’t be enough room or equipment!
The goal of these gyms is to get people to pay them every month for access, but that’s it. There is no personalized care, no one checking up on you when you miss a few sessions, no one there to help with your nutrition or form.
But that’s not you. YOU care about your clients. They’re not just customers to you, they’re people, people with hopes and dreams that you care about. YOU give results.
And one thing I always push is selling results, not services.
That’s why you are worth more. While these other guys are mass producing and selling the use of their equipment, you are giving care and attention and selling real, measurable results to every one of your clients.
Here’s The Bottom Line
You need to see your own value, otherwise other people are never going to see it either.
The second you realize that you are selling something that changes people’s lives and makes your community better is the second that you can begin charging what you’re really worth.
Stop underselling yourself. If prospects can’t see your worth, then you need to demonstrate the value for them. If they still resist, then they’re not the right fit for you.
Be like the surgeon that people travel hours for because they are the best surgeon in their area.
Find the right clients that will pay you what you’re really worth and you’ll find success in your business.
Committed to Your Success,