444. A Simple “Pricing Hack” to DOUBLE Your “Paid in Fulls” + Increase Close Rates By 10-30% (Without Changing Anything About Your Program)

The Fitness Business Podcast with Erin Dimond and Jordan Dugger

Erin Dimond and Jordan Dugger

Health & Fitness, Nutrition, Fitness

4.6 • 667 Ratings

🗓️ 19 June 2023

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We couldn't not share this incredible price hack with you. We recently implemented this small shift with our sales team and the results have been insane. I want to share with you what we typically see when it comes to sales in this industry and how it's presented to the potential client, what you should do instead, and why it would make such a big difference in your coaching company.

Time Stamps:

(1:00) Pricing Hack on a Sales Call

(1:29) 3 Reasons to Implement This

(2:50) The Old Ways of Selling

(7:20) Using the Word "Pre-Pay"

(7:22) The Right Way

(8:55) Caveat

----------

Whenever You’re Ready, Here Are 5 Ways We Can Help You (For Free)

(Community) Join the Fitness Business Secrets FB Community to Unlock Your Free 5 Clients in 5 Days Mini-Course

(Content) Grab our exact post templates that are responsible for more than 3,500 online clients in our business Automated Post Planner

(Instagram) 3-5x Your Engagement, Grow an Audience and Generate Dream Clients from Instagram IG Playbook For Health & Fitness Coaches

(Training) Get Access To The 5 Most Popular Training We Created in 2022

(Get Clarity) Schedule a FREE No-Obligation 15-minute Call to Explore How To Add 10,000/Mo to Your Business–Guaranteed

Transcript

Click on a timestamp to play from that location

0:00.0	So you would say, okay, Susie, are you ready for everyone's favorite part? The investment,
0:03.1	L.O.L.L. To get you from current situation to desired without obstacle, obstacle,
0:07.2	obstacle, the investment is $3,900 paid across six months of the program. Now, if you want to save 20%,
0:15.5	which is about $780, you can just prepay it up front, which will be 312. Which works best for you?
0:24.2	Right? That's it. Really subtle, but the psychology of this is interesting because here's what
0:28.2	happens. Welcome. I am popping in here to do a quick live because I was about to record this
0:34.6	podcast and I thought, you know what? Fuck it. I'm just going to come in here and share this really, really valuable pricing hack with you guys.
0:41.9	And so what this has done, it's allowed us to take our collected rates,
0:45.2	meaning how much somebody actually pays when they sign up for coaching.
0:49.4	It just skyrocketed.
0:50.5	It actually doubled it with just this little tweak. Okay, so we're going to jump in,
0:59.8	and I'm going to move my face just so it doesn't distract me here. So I learned this from Alex Ramose,
1:04.7	a former mentor of ours, and I also was reminded about this from my friend Dan Bolton, who was recently talking about it, and it caused me or myself and Aaron to sort of reinforce this within
1:09.2	our sales team, and right away we started
1:11.4	seeing increases in collected rates. So the great thing about this too is you really don't have
1:16.3	to change much of anything, anything about your program or how you pitch your offer or anything
1:21.0	like that. It's literally just how you present your price on a sales call. All right. So why is getting
1:26.0	more paid and fools so important? There are three
1:28.7	reasons. Number one, it increases what's known as stickiness. So stickiness is basically the more
1:33.9	sticky a contract is, the more likely somebody is to stick to the plan. And if they stick to the
1:40.1	plan and they show up, they do all the things you need them to do, they're more likely to pay off that contract, right? So the more somebody puts down, the more sticky it becomes.
1:49.3	Number two, cash collected on front-end sales is really important because that fuels the growth
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Erin Dimond and Jordan Dugger, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Erin Dimond and Jordan Dugger and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.