Here’s a great lesson on pricing your personal training services, boot camps and info products.
My wife and I took Andrew and Chloe to Disneyland yesterday. What a blast!
Going to Disneyland this time of year always gets me in the Holiday spirit because they really deck the entire place out and top it off with their nightly Christmas parade.
While in line for tickets we overheard the couple in front of us discussing whether or not to buy a one day pass to the park or annual passes.
Out of the blue the husband noticed (on the price board) that Disneyland offers a payment plan for their basic level annual pass. He turned to his wife and said: “Look, we can afford this. We just pay $69 right now, and $9 a month for the next 12 months.”
And with that they purchased two annual passes that they otherwise could not afford to pay for in full.
In fact when I looked up at the price board I was blown away with all of the options available.
*One, two, three, four, five and six day passes
* One, two, three, four, five and six day park hopper passes (for both parks)
* Early access pass (gets you in 30 minutes before park opens)
* Guided park tours
* Four different levels of annual passes (including payment options)
* Local resident discount offers
And while this one is not on the price board, Disneyland even offers an annual membership to Club 33, an exclusive hidden restaurant within the park designed by Walt Disney himself to entertain dignitaries and his personal guests.
The cost for Club 33 is $9500 and a two year waiting list.
There are two big lessons here for you.
The first lesson is this: Make it easy for people to spend money with you. Offer creative pricing, packaging, budget friendly solutions, and payment options (hint E.F.T.) for premium, higher cost products and services.
The second lesson is this: A certain percentage of your clients and customers will want the premium, exclusive, limited, higher- end product or service so make sure to have one (or several) in place.
In fact a certain percentage of those clients will want the next exclusive product or service up and if you don’t have these offerings available you’ll end up leaving a lot of money on the table.