The great thing about our Challenges is they allow us to bundle up our products and services into enticing packages.
It’s a bit like those gift hampers. You know the ones? Cellophaned wrapped, with a big ribbon and all that nice stuff already in them, saving us crazy amounts of time, effort and stress finding all those goodies ourselves.
Our Challenge ‘hampers’ mean that instead of someone having to pick and choose between all that we offer, they now only need to make one decision. One decision which gives them all that pre-selected, good stuff.
Gone now also are those nagging moments, of you trying to convince clients to take up some of your other services or those of your affiliates, knowing how much they would benefit from them but risking coming across like a pushy salesperson.
Gone also is all that wasted time, dragging on between when your client embarks on their journey and reaching their goals. Everything moves faster, but you knew all that and now you just have to package up and price those Challenge hampers.
Easy. Do cheap, medium and expensive packages, right?
But is that how you choose your hampers? Would you prefer a choice between three differently priced picnic gift hampers or three hampers of the same price but one is filled with goodies for a picnic, another with toiletries and skincare, and another with car care products? In other words, should how we put hampers together start with our focus at the money end, or the needs end?
Could we instead offer different packages based on how busy people are, how much energy they have, how much experience/knowledge/skill they have in the Challenge activities, or what end of Challenge event or prizes they want to be eligible for? Do prices need to be different or does the content need to be?
Does it really matter? Only if we want to broaden our reach.
Let’s dive in to 9 examples.
People love choice, but not too much. Between 2 and 4 differently priced packages seems to work a treat.
Here’s a typical example of how Challenge packages are priced, and the choices given people.
- Packages with progressively increasing prices with names like Bronze/Silver/Gold or stars representing those with more in them and that are higher priced.
- $/A/Bronze/ 2 star
- $$/AA/Silver/ 3 star
- $$$/AAA/Gold/ 4 star
- $$$$/AAAA/Platinum/ 5 star
I’m going to break this first example apart more because it’s the most common one and has the most potential to let us down. One of the reasons is because we don’t fill our highest priced package with everything in it that we know will get entrants across the finish line successfully. We hold back, thinking people won’t see the value in all of it or be able to afford it. We forget that a) people don’t have to buy it, and b) if they do buy it it’s because they want everything in it and are trusting us to have sorted that out for them. Maybe that stuff includes a gym membership, home fitness equipment, blood tests, a night at a sleep clinic, us living with them for 24 hours, a 3-day retreat, massages every week, whatever, put it in. If it ends up being $1000s more than our other packages so be it.
To be clear, this doesn’t mean putting superfluous ‘fillers’ in it, to bulk it up unnecessarily, to justify a higher price. All the goodies must be the real deal, of what we know and believe to be the best we can provide. There’s a good chance are, we won’t be able to do an unlimited number of these top level packages and may need to limit how many people can sign up to them. Awesome. Let’s do that.
Loading up our best package with everything in it has a flow on benefit in that all those who choose a cheaper package, with less offerings in it, are essentially saying they can succeed without those extras, from the higher priced package. That they’ve got those other things covered or don’t need them. That decision alone can motivate them into going harder and proving themselves right. A brilliant bonus of a well-constructed tier of packages.
Sometimes we can default to thinking the cheapest package should be targeted at new people to our business, or beginners, as their introduction to us and then we fill it with low maintenance like generic programmes, an e-book, membership to an online forum, downloadable pre-recorded videos and other stuff that can be dished out to the masses with no extra time or effort on our behalf. That’s how we solve the issue of keeping it cheap.
One problem with this scenario is that directly competes with huge entities and celebs that do that mass generic stuff in a very slick way for thousands of people at a very low cost. Problem two, is it’s not the stuff that works and if it was none of us would have jobs and we could do away with health and fitness courses and courses on motivation and adherence.
If we want our newbie packages to funnel into our services and to actually help a higher percentage of newbies to be successful then we need to pack those entry level packages with more stuff that oozes our unique offerings, which aren’t replicable by those larger entities and which builds bonds with us and our members, our location and our unique network of associated professionals. As such we would be better to include in those packages in person workshops, group classes, in person assessments, and other opportunities to engage with you, the other professionals you work in with, other clients and to come into your business and try things out, none of which needs to encroach into your one-to-one time, or could but only to a minimal extent, like initial consults.
We can still offer all that other low maintenance generic stuff, but it shouldn’t be all that is in a package for newbies, or beginners or people that lack motivation to do what our Challenge is going to want them to do.
Finally, if you do set up your packages in this traditional tiered format, then collect statistics on the success rate of the entrants at each of the different tiers and share those as it should reveal that more entrants succeed when they have purchased the more expensive, content rich package and help reassure them at the outset that it’s worth the investment. While success rates are always important to collect the difference may not be as significant between the varying packages in the next examples, which speak less to someone’s hip pocket and more to factors unique to them.
Why specials, deals and discounts fail.
Do our friends make us poor?
People don’t value things that are free or cheap, fact or fiction?
Showing prices upfront, good or bad?