How To Increase the Price Of Your Online Course or Coaching Program

Written By Dan Henry

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If I were to ask you right now, "Do you think you charge enough for your online course or coaching program?", what would you answer?

How do you feel about your current pricing?

Most people will tell me, "Well, Dan. Honestly, I don't think I'm charging enough."

And I'll tell you right now... this is the one thing holding so many business owners, just like you, back from reaching their biggest potential and revenue.

In my last blog post, I covered what to charge for your online course or coaching program, so if you haven't seen that video training yet, then I highly recommend you go check it out!

In this training, I'm going to take it to the next level and show you exactly how to keep doing what you're already doing, but start making more out of it. 


In this video, I'm going to cover:

  • Which selling model will allow you to fluidly change your course or coaching price at any given time
  • AND... the two things that happen when you start charging a high ticket price for your offer

Transcription

In today's video, I'm going to show you how to increase the price of your online course or coaching program, by the way, if you like videos like this, make sure to subscribe to my YouTube channel. Cause I drop them all the time.

Hey everybody. My name is Dan Henry and I'm the founder of get clients.com and the author of digital millionaire secrets. And today I am going to show you how to increase prices. All right. Let me know, by the way, in the comments, if you think you charge enough yes or no. Do you think you charge enough for your online course or if you haven't started one yet? Say I haven't started one yet. Let me know. I want to see what you guys how you guys feel about your pricing. All right. One of the worst things to hear from somebody who has a digital product business, online courses, coaching, et cetera, is I just feel like I don't charge enough or they say I can't make enough profit. And they don't realize that they could charge more. So let me quickly tell you the story of one of my clients, Andy.

Now Andy sells a program to help lawyers get more law cases, get more clients essentially. And Andy started off selling his program for $2,000. Now, when he was selling it for two, and by the way, this is a decent price for that because he's teaching lawyers how to get clients, right? He's not going to charge $47 for that lawyers land a client that's like five, 10, 15, 20, maybe even more thousand dollars. So at least $2,000, at least now he was selling this by doing an ad to a webinar, to a sales page. Okay. That's how he was selling it. Now for months he would spend about, and don't quote me exactly on these numbers. This is from my conversations that I had with him, but he would spend about $60,000 in advertising to make about 65,000.

Maybe thinking that's terrible, Dan. Well, it is terrible. That's a $5,000 profit that's Knox, right? And so he came to me and he said, Dan, I'm spending 60 grand. I'm making like 65. You know, my clients love it. They're getting results. They're making one guy landed a million dollar case. What am I doing wrong? I said, well, dude, you're not charging enough. And he says, well, what should I charge? I said, well, you should, at least at the very minimum, you should charge $5,000. He says, okay, well, how can I convince somebody to spend $5,000 on an order page? I said, well, that's the thing. That's a tall order. So instead let's do this, let's do this. If you want to charge 5,000, right.

Let's do add to the webinar, same as same thing. But then instead of asking them to go to a sales page and buy, let's get them on a phone call, have about a 45 minute conversation with them, answer their questions about the program and then sell them on the 5,000. And he says, okay, Dan. But I'd have to change my funnel. I'd have to do all this work. I'd have to like rearrange everything and rerecord my webinar. And I'm just not sure. I'm just scared. I said, okay, here's what you do. Email everybody that saw the webinar for the $2,000 offer, but did not buy and say, Hey, I saw you didn't buy. And you know, I'd like to know why. If you have any questions, I'd be happy to answer. Maybe you didn't get your questions answered on the webinar. I'd be happy to answer them on the phone.

And we take them to a page like Calendly or something and have them book a call. Now simultaneously I had him take his program and add coaching calls to it, not just videos and that way his program had more support because instead of just videos, he now added coaching calls and additional, you know, additional training, you know, he packed more value onto it. And so when he got on the phone with these people, he started, I told him to sell it for five. But what he did at first was he sold it for two over the phone. And this is what happened. He started noticing that even at $2,000, he started selling them way easier than with a sales page. And he starts busting out $2,000 sales like crazy. He gets on the phone, he has a 30, 40 minute conversation, two grand, two grand, two grand, two grand.

Right? So then I say, well dude, you gotta raise your prices. Like you've proven it. You know, maybe you won't close as many, $2,000 sales, but you'll still close a lot if you raise it to five. So that he goes, all right. So he starts charging three. He turns this into three and he starts closing, right? So then he goes back and he redoes his whole webinar. He gets rid of this whole process and he sticks with, or he goes with add webinar call. Only thing is he didn't charge 5,000. He decided now he was going to charge 3000. Cause he's not mentioning what the price is on the webinar. And that's the beauty of selling over the phone. You don't have to say what the price is. At any point, you can just change the price because you don't say what the price is.

You see what the price is on the phone call. So he gets on the phone and he starts busting out $3,000 sales like crazy. So he comes on a, on a call from, cause he's in my program. He comes on one of our coaching calls. He says, Dan, I've been selling like crazy for three grand. How I raise it to five? I said, okay, when's your next sales call? He says, in 10 minutes, I said, all right, here's what you do. You're going to raise it to 5,000 on that next sales call. And he says, well, how do I do that? So, okay, well when you get to the part where they ask how much it is, he goes, yeah. I say, instead of saying 3000, say 5,000 and he goes, okay, are you sure? That's it? Yeah, I'm sure just do that. So he gets off, the coaching call goes on his sales call.

Does it closes at 5,000 bam done and sends me a text about two hours later and says I closed the deal. Boom. So from there he sold dozens and dozens and dozens and dozens and dozens doing ad webinar, phone call $5,000 sale until eventually as he was getting more results, more case studies, more client success stories from his lawyers who were making more and more money because the more people he got in, the more success stories he had, right? So now he's got all these success stories. He's added additional content to the program. The lawyers are loving it. They're getting massive results. So he gets inspired when he says, Dan, he says, you think I should raise it to 10? I said, well, tell me about some of your clients. Are they getting results? And he says, yeah, this, this lawyer landed a hundred thousand dollar case.

This lawyer landed a $300,000 case. This lawyer landed two $50,000 cases. I'm like, dude, absolutely 10 grand, no problem. So what does he do? He does. He changes nothing about this, except he starts charging $10,000. Boom, simple. Now, you know what he did last month, he spent about $65,000 in ads, roughly the same amount he spent prior when he was spending 60 to make 65. But instead of charging 2000 and selling it over an order page charged 10,000, sold it over the phone, you know, he made, you know, he made last month, $225,000, $225,000. Now here's the great part. He spent 65 grand, he made 225 grand, the amount of profit he made it just dwarfs this. And he didn't really change his content that much. Yeah. He added some stuff, but he got results. He made sure his clients got results. And he went from ad webinar sales page to add webinar call.

And from there he could charge whatever he wants because all he has to do is change what he says on the phone process, the credit card debt. And now he charges $10,000 for a great program that his clients get massively awesome results. And he's making far gross revenue and far more profit because when you charge a high ticket price, two things happen. Number one, you're able to provide a much better service. Now he has additional resources he can use. He doesn't even take sales calls anymore. He has eight. He has sales reps to do it. I believe he has one one's one sales rep. And I think he just started training a second sales rep. All right. And that's the thing is when you charge more, you can provide a better service or product because you now can hire a team to help you.

It gives you more time. If you're not taking sales calls, what can you be doing? Making the product better, creating better marketing. See what I'm saying? And so that ladies and gentlemen is how you increase prices. You make a great product, you sell it over the phone and you, you just targe more and for a better experience, for instance, if you want to sell an online course, that is just videos and somebody logs in and watches them. And that it fine, but you're only gonna be able to charge this much if you sell that same course, but you have multiple coaching calls per month, maybe one call per month, right? And then maybe every quarter you have a one day live event or something like that. Or maybe it's a virtual event. Now the, the amount of help and support you're giving your audience is worth more.

And as your students get more results, you now can charge more because that's how business works, supply and demand, right? If your customers are getting amazing results, you can and should charge more. And when you stick to this ad webinar, calmer model, you can fluidly change your price very easily. Last month, all my clients did extremely well. Alright, let's bump the price safe. So that is how you bump your prices. Now, obviously there's more mechanics to that. And in order to really dive in to your business and tell you like, Hey, how can you raise your prices? How can you scale? How can you do what we helped Andy do? You'd have to get on a call with my team so that we can take a look at your business, see what you're doing and see if we can help you make this a reality.

And I can leave a link in the description below where you can book a call. If you're interested and talk to our team a little bit more, or you can grab a copy of my book, digital millionaire secrets for free, just pay shipping and handling. I'll leave a link to grab a free book below in the description. I'll have both those links to help you out. Cause I want to give you as much support as I can. So again, you can get my book for free or you can book a call with my team and see if we can help you or both. But you know what I need you to do before you leave this YouTube video? Absolutely. I need you to subscribe to my YouTube channel because that way you see all the new stuff I got coming out, which you will absolutely love. So make sure to subscribe and also make sure you grab a copy of my book. See you guys in the next video.