Yes, lowering your prices is a guaranteed way to fail…even during a pandemic!
Listen, everything that I teach you guys is something that I’ve learned along the way by building my business from scratch. I literally started from the bottom, no Drake pun intended. I’ve built success in my business over the last 5 years even though I started with nothing. Now I want to share one of my biggest tips with YOU!
Listen, in today’s economy, it’s normal for restaurants to have to offer discounts as they start reopening. Even gyms are going to have to offer discounts and lower their prices in order to draw people in.
So, its normal as a dietitian entrepreneur who has an online nutrition coaching business to want to do the same. You think you should lower your prices to attract more clients, right?
WRONG! And here’s why.
Quantity vs. Quality
You are not Walmart! Their strategy is QUANTITY, not quality! This is coming from someone who has done coaching for 12 years. No offense against Walmart, but you should want to have the best quality of clients, not the most quantity. Do you REALLY want to be known as the cheapest dietitian around?
Here’s the truth, if you compete on price, you WILL lose! There is NO advantage to being the second cheapest person around. You can’t compete on price. Why? Because there’s online macro calculators selling plans for less than the price of dirt. Think about it, why do people shop at boutiques when they could buy the same exact items at Macy’s? Because people like the personalized and customized experience! And why can Nordstrom’s charge significantly MORE money than Macy’s? Because of the experience, the value, and the outstanding customer service.
The total experience is what people are looking for in a nutrition coaching program!
I hate to break it to you, but you can’t make much of an impact OR profit if you’re only charging $80 per month for nutrition coaching. Do you know how many clients you would need to have a stable income at that rate?!
This is why you have to compete on VALUE, not price!
If you get into the scarcity mindset that you need to lower your prices, it is a slippery slope my friend.
Think about it. Do you want a ton of people paying you small amounts of money, or do you want a few quality clients paying you a lot? Do you want to deal with 100 emails, 100+ texts per month, 100 people that you can barely keep track of? Or would you rather deal with 20 people per month who pay $500 per month?
I know which one I would pick!
When people pay MORE for something, they pay attention. If they’re not paying enough, they won’t appreciate the value and won’t take your services seriously.
This is why dietitian nutrition coaches think they should be offering group services. There’s nothing wrong with this, I do it too! But the reason why some dietitians start doing this is because they are unable to command their rate for 1:1 coaching. They don’t believe they are worth a program of $500 per month, so they just put people in a small group and charge everyone $100.
But now you’re giving 1:1 service for group coaching prices. That is not a winning strategy. Do you want to coach 10 clients for the value of only 1 client? Probably not! Unless your goal is to have the most clients, which is totally okay if it is, then that is not the strategy for you.
How many clients do you want per month? If it’s under 60, you should NOT be the cheapest dietitian in the game. You should be more expensive and the most VALUABLE dietitian in the business. Increase your value and avoid doing unnecessary things like building a course. Give VALUE to your clients and produce RESULTS!
The bottom Line For Your Prices:
The biggest takeaway from this is that I want you to STOP undermining your value! KNOW YOUR WORTH!
Fix your mindset. Everything starts with your thoughts. Instead of dropping your prices, take on the mentality of how you can deliver MORE value, while charging more money. Ask yourself, how can I make my program worth MORE than what it already is? How do I deliver MORE value to my clients to produce BIGGER transformations? You need to be over-delivering to your clients in order to make $500 per month look cheap!
You should want to be exclusive, esoteric, and only available for a select group of people. This is how you will GROW!
The key to success and the reason why I have thrived with offering coaching services for 12 years Is because I go for the RIGHT people, not the MOST people.
Make your work COUNT and be paid well for your services. I am so passionate about this topic because I hate seeing dietitians not being paid for what they are worth. We are the experts! Not the bro-fessors out there and detox ladies who get rich by selling fake supplements and cookie cutter programs. Dietitian nutrition coaches deserve to be recognized and deserve to be VALUED!
If this was helpful and you COMMIT to NOT being the cheapest dietitian in the field, comment on this post or send me an email. I’d love to hear from you! All I ask if that you take action and LEARN from what I share with you. I love providing value to any dietitian who is ready to level up in their business and take massive action!