To begin with, let me say this.
There’s no right or wrong answer to this question.
If somebody is telling you that you must adopt one approach or the other – smile, thank them for their input and be on your merry way.
There are good reasons to put your rates on your website (mine are on both sites), but equally there are good reasons not to, so let’s take a look.
Benefits of listing your rates
It will (probably) deter time wasters who just want the cheapest coach. In sales this is called cost conditioning.
You will still get some people who haven’t bothered to check your site, but a lot less than you would if you hadn’t displayed your rates.
People are more committed when they know the cost element before they even speak to you.
You can with the use of good copy build value of your coaching services on the rates page.
In other words, if you are going to list your prices you shouldn’t just be throwing them up there in isolation – you need to be treating the page as a sales page and building the value of hiring you.
Drawbacks of listing your rates
You don’t have the ability to build one-on-one rapport with people before they know how much you charge.
It *may* encourage people to comparison shop on price alone once and go looking for other coaches to see what they charge.
I have heard coaches say that other coaches knowing their rates is a drawback too.
I just don’t get that at all.
You should be charging what you need and according to the value you can deliver.
You really shouldn’t care what other coaches are charging because it’s none of your business.
Benefits of not listing your rates
You can build up the value of working with you on the call, presuming that is, you’re allowed to and you understand the fundamentals of selling.
It’s very difficult even for skilled salespeople not to just give a price when the prospect is asking them outright, ‘how much is it?’
Sure, you can try and dance around and say things like, ‘Well I need to know what it is you are wanting to achieve from the process before I can tell you what the investment will be’, but if they ask again, you’re out of luck.
You will tend to get calls from people who are more serious – presuming that is, they have looked at your site first and realized you didn’t list what you charge.
Drawbacks of not listing your rates
Think of any clothes stores or restaurants you may have visited (presuming you have!) where prices are not listed.
What do they have in common?
Yep, unless it’s the Dollar Store, it’s usually a sign of ‘if you have to ask what the price is, you probably can’t afford it’.
Some people are reluctant to get into a conversation about buying a product or service without knowing the cost in advance.
And don’t make the mistake of thinking that all of those people are struggling for cash. Some will be and will be looking for the cheapest coach, but some will not.
As I said at the beginning, this is by no means cut and dry and my best advice would be to do what you feel is right for you and ignore what others are doing.
Tim Brownson
Tim Brownson has been a full-time coach since 2005 and built two successful coaching practices. He now works exclusively with other coaches and therapists helping them build profitable and sustainable practices at Coach the Life Coach.
Tim Brownson
Tim Brownson has been a full-time coach since 2005 and built two successful coaching practices. He now works exclusively with other coaches and therapists helping them build profitable and sustainable practices at Coach the Life Coach.
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