Do you think your services are too cheap or expensive?
Do your prospects often baulk at the price when you quote you fees for PT or bootcamp.
Personal Trainer Pricing is tough, because it is (or should be) a premium priced service. We can’t ignore price as irrelevant , it is extremely relevant to your prospects. However there are a number of things we can do to make it a less important factor in the decision process, as well as use some psychological “trickery” to change the perception of the ‘cost’.
Higher Perceived Value Of Your Service.
One of the best ways to reduce the relevancy of price is to increase the ‘perceived’ value of your offer.
Now I am not saying you should be deceiving your prospects about the true value of your service, all you are going to do is ‘STACK’ the value in your marketing. Lets look at two ways to present your services.
1. Personal Training – £80 per hour
2. Personal Training Package
- 12 1-on-1 fat burning PT sessions with your own personal coach
- FREE Kinetic Chain Assessment, and body analysis at the start and end of your training
- FULL access to your coach by phone/email/text
- The XYZ nutrition plan to shred fat from those “hard to shift” areas of your body
- Our unique Goal Setting Protocols that make your training lazer focussed getting your results in double quick time!
All for just £320 a month
Same programs, same service, presented very differently, one demonstrates significantly higher value
The Contrast Principle
Robert Cialdini’s powerful book “Influence” is a must read for any business owner. In it he talks about the contrast principle which is basically presenting your HIGHEST priced products/services first, then, if there is price resistance, offer the cheaper STANDARD program.
Here is how I used this in my own Personal Training Business. Training with me, the top guy in the company was the highest priced PT package at over 800 Euro per month. I comparison my other coaches were considered very reasonable at 585 Euro per month. I would always tell prospects my fees first and then the fees of my other trainers.
If I’d presented the 585 euro a month first, the prospect would immediately think that is a lot of money to invest in training.
However having heard my more expensive fees first and then the lower amount, the 585 seems cheap!
This one concept for pricing is hugely powerful in any product of service you are selling.
The Take Away Method
This is something I learnt from one of my business mentors, James Malinchak. The basic idea is combined with the contrast principle and the value stacking methods above, but actually works to get more people to invest in your higher priced packages.
You first present your highest priced services as per the value stacking method.
Then present the second highest priced package, simply by saying.
“Exactly the same as the XYZ premium package, except you DONT get access to Tim Goodwin for your personal coaching, instead you’ll be coached by one of our GetFit Trained professionals to coach you through your program”
By taking things away of VALUE when you drop the price, your prospect will often desire the thing that has been taken away from them, making them want to sign up for the higher priced package. Psychologically very powerful selling techniques.
But I Don’t Have a High Priced Package?
Simple… Create One!
Even if you never intend on selling the high priced service, it is way more beneficial to marketing your ‘standard’ priced services by using these techniques. PLUS you’d be surprised how many people actually take you up on your PREMIUM product!
Go ahead create the all singing, all dancing EVERYTHING included package that is priced extremely high with the intention never to sell one, but ALWAYS offer it, with the intention to go down to the next level service which is your ‘normal’ service… which seems like a damn good deal!
That’s Personal Trainer Pricing the ninja way!
In the comments section below tell me your experiences with being sold something in this way.