Music and sporting venues have understood the concept of VIP areas at events for decades, right?
In Hyde Park in 2019, I was so far from Paul Simon that I almost wished I’d paid the 3x premium over the “normal” ticket to get down the front.
Years back, one of my coaches opened my eyes to the concept of proximity pricing in our business too.
This means that “The nearer your client gets to you, the more they pay”.
A simple idea, yes, but one lost on many coaches and therapists for whom the default standard offering is a “One-to-One” appointment.
The trouble with 1:2:1 is that you’ll run out of time before you run out of ambition.
Think instead about a three-layer product pyramid:
- BOTTOM: A low-cost ($10-$100pm) membership where people subscribe forever in return for “forever” value. A print newsletter or a weekly coaching call both work well.
- MIDDLE: A mid-price ($1,000-$5,000) group programme, where people get access to you simultaneously with others, maximising the impact value for them, and you.
- TOP: The exclusive 1:2:1 programme ($5,000-$10,000+), perhaps based on your group programme, but delivered directly by you, to a client who can truly afford you alone.
With proximity pricing at the heart of your strategy, your mythical six-figure practice can be less than a year away, and needs only a handful of new clients each month.
PS: End of an era today, as Charlie Watts, legendary Rolling Stones Drummer, flimflammed one last time into the next life. RIP CW.