Setting the price as a new health and medical coach can be a big decision. However, one thing you need to consider when deciding on the price for your service is understanding the consumer mindset. Just because something costs less doesn’t necessarily mean more people will buy it. But then, more research shows that the higher the cost of something, the higher its perceived value is.
Think about this…..
Suppose you were looking for a gym instructor for yourself, and you came across two people – one charging $20 an hour and the other $60. While $20 an hour sounds like the best deal, you might be left contemplating why their services are so cheap. You’ll likely go for the $60-per-hour instructor because you would think they are more experienced, professional, and skilled, even if they are not necessarily all that.
The same concept should be applied when deciding a price for your health care coaching packages. There is a thing as “too low” regarding health and doctor coach rates. People might start to avoid you if they see your services as too cheap. As a result of the low price, they may see you as being unqualified or inexperienced.
However, when you charge more, prospective customers will most likely take you seriously, and you’ll allure the right kind of “coaches” who are not only ready but also willing to keep your services.
On the other hand, if the price you charge is too high, it may have the opposite effect. Let’s say, for instance, that you spend more than $8,000 putting together what you believe is the best health coach service package.
But then, customers are only willing to spend $200 on it. Well, this will mean that how people perceive the value of your services is remarkably lower than that of your actual product. So you might have to return to the drawing board.
How to create quality Coach Packages
Before deciding how much you should charge for your services, you’ll need to design and improve your health coach package. Here’s how to go about it.
1) Identify Your Niche
Although this may sound like a no-brainer, you need to identify your primary target market beyond focusing on general areas like weight loss or diabetes management, etc. Do you want to adopt a high-price/low-volume model or perhaps a low-price/high-volume model?
Create a buyer persona to get a perfect picture of your customer. You can achieve this by recognizing what their background is, their occupation, their goals, their income levels, etc.
2) Give the People What They Want
The next step is to look for a way to get your ideal customers’ attention. You want to let them in on the benefits they’ll get from your services, not necessarily the features. This is where most people go wrong.
Benefits – not features – are how you get their attention and make them interested in your offer.
How to Price Health Coach Packages
Before deciding on how much to charge as a health coach, you’ll first need to know what the current health coaching prices are like, and the ideal way to go about this would be to carry out a quick Google search and look up different health-coaching websites and compare the prices.
Usually, health coach rates range between $200 and $500 per month. Coaches usually charge a part of the total amount to “hook” your client and get them committed to the program’s first phase. Once they see the results, they’re more likely to continue.
If you’re just new in the coaching business, you may want to price your services slightly lower than the average industry price. This will allow you to enlist more clients and get testimonials that you can use in your marketing efforts and build your confidence in the long run.
Conclusion
Deciding on your health coach package price can be tasking; however, try to balance your target client’s needs and the amount you need to make per month while working on your package. Even though you should never work for free, what you’ll want last is to be seen as greedy.
If you’re a medical professional and desire to learn how to coach health professionals, get in touch with a certified medical training organisation that is backed by a team of industry professionals, such as doctors and other health sector professionals.