Kendall Summerhawk asked:
There are two schools of thought in small business marketing. One of the marketing strategies is to have lots of clients at a lower price point. The other is to have fewer clients at a higher price point.
My preference is to design my business to have both that work together synergistically. If you have lots of clients at a lower price point you have a “tribe” of people who already know, like and trust you and are likely to want more of what you offer.
This means you can then offer private, intensive specialty coaching or consulting “Platinum Days” at a much higher fee.
My success coaching clients are surprised by how many of their clients are willing to pay top dollar to spend a day or two with them in a private, intensive retreat-type setting.
Clients love the concentrated focus that’s all on them, and often achieve significant breakthroughs they could only achieve if they were to work with you over a longer period of time.
Here are four quick coaching tips to make your “Platinum Day” income stream successful for you and your clients:
Success Coaching Tip #1: Hold your “Platinum Day” in a special setting.
These days, resorts are all the rage. You can arrange for a guest suite or a meeting room in which to host your Platinum Day for a reasonable rate compared to what you’re charging your client.
Success Coaching Tip #2: Plan at least one “experiential” activity.
People learn and work best when they are engaging all of their senses—eyes, ears, body, taste, smell and intuition. Even if you’re working on topics as “serious” as strategic planning or implementation of marketing plans, be sure to include some type of physical outing. It could be a nature walk, a golf lesson, or drumming. The point is to make the activity something unusual that creates a memorable experience and forces your clients to stretch out of their comfort zones.
Success Coaching Tip #3: Include loads of pampering touches.
My Platinum Day marketing plans include limo service to and from the airport and yummy catered lunches. I also include a guest stay at a beautiful bed-and-breakfast where I know my clients will be treated like royalty. You could include a massage, facial or other form of spa treatment for the women small business clients attending your Platinum Day.
Success Coaching Tip #4: Focus on how the day with you will move your client forward by leaps, not little steps.
Platinum Days are designed to create breakthroughs. The marketing strategy here is to emphasize the value of having intensive time exclusively with you to work ON what they want, instead of IN what they want.
What are the results of the Platinum Day marketing strategies? I typically receive anywhere from $10,000 – $20,000 per private Platinum Day retreat and spend between one to three days with my clients. One of my clients created her own Platinum Day, charging $2,000 and successfully marketed it to a modest-sized list of start-up women small business owners.
Another success coaching client created her first Platinum retreat for her executive clients to pursue a more enlightened form of leadership and comfortably charged $5,000 for a two-day experience.
Whether you’re newer in your business or have been growing for awhile, adding a Platinum Day to your list of services is a simple, easy and a highly profitable way to add significant money to your monthly income!