Have you ever done something for FREE to help someone out and no matter how hard you tried and all the tools and resources you shared with them, they just didn't follow through and solve the problem you were helping them solve? I know I have. In fact many times in the first year of being in business. From pro bono coaching, to doing free events and going out for endless coffees where my knowledge was drained to no avail. I was helping lots of people, BUT was I really? NO!
We are not helping anyone and least of all ourselves by doing and giving things away for free. The power of Free works when you may be trying to grow your database and you pull together a resource to get your ideal clients attention. It doesn't work when you continuously agree to work with someone from the goodness of your own heart. You are not serving them or supporting them in creating the change.
There has to be skin in the game. Part of the transformation is to be investing in a solution. To value the solution, the provider for finding a better way of achieving a result and for the client to take action and not lose out on the money invested. So STOP doing things for free. Draw the line, name the price and ask for the business. People that don't want to pay and are always looking for a free ride are not worth helping... You may think they are nice people, and they probably are, but I know those people do not have the commitment in following through even if given help for free.
Now lets move onto the next set of people. Those that pay Little. Even this group is often not fully committed to change. At a low cost, they cancel, they don't respect the situation enough to let the provider know if there was a change of plan and try to change the rules to suit them. Recently I ran a 2 Day Ultimate Brand Accelerator Masterclass that I run three times a year. It is a low cost investment of just $247, yet I know there are providers out there that charge close to $3000 for a two day experience such as this. We have it priced at an entry level because its our relationship building program and value add to our existing authors and high end paying clients. Our high end program is our Ultimate 48 Hour Author retreat. So as it has for the last one we ran, we had over 70 people registered, 10 cancelled without too much of a reason leaving their payment behind with about a week to go, another 10 asked if they can come late, leave early, do only 1 day, the variation could go on....
Now let me ask you this? If the participants in this Masterclass were committed and paid $3000 would they have not made every effort and found a way to attend the full 2 days - I think we know the answer to that one. Similar, I run my half day introductory workshops for my retreat program and they are $49 per ticket. People continue to cancel on the day, the night before or don't even bother contacting us. This is not due to any poor follow up. We send emails 10 Days out, 3 Days out 24 hours out and SMS reminders and logistics 3 days and 24 hours out.
Bottom line: People that pay Little, Pay Little Attention!
I am also not just speaking about the turn up rate or the lack of commitment to attendance, follow through results and success with their original problem does not happen. They can say they had an awesome time, learnt so much, how amazing the information was and they are so inspired and yet you run into them weeks and months later and nothing has changed for what they so deeply desired when they were in the room unless they are the select few that Take the Leap, Back Themselves and choose to do the full experience and program to get the result and this is when we get to:
People that Pay a Lot, Pay a Lot of Attention
With these people I know how much they are passionate about the result, I know they will do the work, I know they will turn up on time every time and I know they are the ones that will ask for help when they need it. I also believe whole-heartedly that it is a lot easier to sell at this level than at the lower levels. I work a lot harder to sell the $49 and $247 tickets than I do a $17 000 program.
This brings me to DON'T LOWER YOUR PRICES THINKING YOU WILL CLOSE THE SALE. I never discount my services unless an upfront payment is made in which case I offer 5% discount as I don't need to wait for the money. I always add more value and negotiate ways to make it work for the client that is a win win and achievable. It is very tempting to think that you will sell more by asking for less payment, but it's not true so DON'T DO IT!
Last of all when the shoe is on the other foot and you are getting something for free or low cost, be respectful, communicate clearly with the provider and treat the information as if you are paying thousands. I don't hold back in any of my trainings, the difference in the results is how seriously people take the information, the ones that choose to go deep with me in the longer programs certainly get greater results. You can't transform someone in an hour, half a day or even 2 days but work with them through failure, adjustments, strategies over a period of time, hold them accountable and then see what happens.
People that don't pay don't pay attention, people that pay little pay little attention and people that pay a lot pay a lot of attention.
Have an awesome day!