The Performance Doctor: Pricing Is A Story, Not A Number

This is by far in the top 3 conversations I have with new grads, and associates who are looking to go out on their own.

Many want to start cheaper than the average practitioner around them.

If they do so, they are throwing their expertise, experience and value in the trash and lighting it on fire.

First of all, why would you devalue yourself like that?

Second of all, 50% of paying customers are always looking for the “better” deal. Even if that means it’s probably not good.

If you are just getting started and are afraid of charging what you are worth… at least start at the average around you. Don’t be the cheapest out there.

Your price tells people what to believe about you.

Underpricing keeps patients stuck and undervalues your work.

If you are thinking about taking insurance be very careful. You are not allowed to have double fee schedules.

How do we set up pricing to position ourselves in the community?

Remember the activity from our last email? The one where you wrote down your:

• Lead generation offer

• Core offer

• Premium offer

• Continuity offer

Now we are going to create a price ladder (hint: should’ve seen it on the columns from last week)

Your lead generation offer will usually (in most cases) be free or relatively low cost. Under $10. It still has to deliver really quality content. And in this case, the content would be a guide on how to perform X exercise, or how to clean up their diet, etc.

Your core offer will be more expensive ($$-$$$) this could be an 8-week rehab protocol for anterior shoulder impingement for baseball players priced at ($400-1200). Pretty big gap right? That’s because the value here is in the outcomes perceived by your patient. The more niched the program, the more expensive it can be.

Your premium offer.. you guessed it. Potentially even more expensive. If we continue with the above rehab protocol it could include more in-person sessions, continuous monitoring, etc. This offer has to increase the access or speed of the transformation. In most rehab cases we cannot speed up return to play.

Your continuity offer is not nearly as expensive, but it always depends on the value and outcome you are promoting through this offer. If it’s continuous monitoring, you could set up a daily athlete monitoring questionnaire for $29/mo. Where you’ll keep some tabs on your patients remotely, and will be pro-active about their health and performance.

You are getting the idea. All of this is from your ONE offer.

Now let’s stack some value. This is where we can add bonuses for speed, support and safeguards.

If your offer is for shoulder pain for baseball players in high school. Some of the bonuses you can add, are specific stretching routines, mobility series, and nutrition. This can be delivered in a variety of ways (pdf, excel, YouTube, Vimeo, loom, etc) Just keep in mind, that creating content, takes time and effort) Plan before you lose three hours of your day crafting something in the end you won’t use.

Finally, most people think about adding value by giving bonus, after bonus after bonus… few people think about adding value by reframing what happens if the patient doesn’t take action?

In most business coaching circles, this is were fear-mongering comes out to play.

We don’t do that shit.

We talk facts.

What’s the outcome of not rehabilitating the shoulder properly now? Higher chances of re-injury, the possibility of surgery is high (injury dependent), missed games and seasons, longer recovery time.

When we convert that into dollars, then we are talking about more office visits in the future, insurance co-pays, surprise hospital bills, and more. The average Tommy John’s surgery is $15-20K (not including other hospital costs).

What’s the outcome of not learning how to develop a system that helps you generate more money? Continuous stress, less family time, higher likelihood of weight gain, health decline, increase chance of loan defaulting, and more.

This is not just you positioning yourself as their solution… but you are there to guide them to their desired outcome. One which you have outlined in your offer.

Build your category of one.

Next Tuesday: Sales Conversations & Objections

Until next time,

In health and strength,