How To Price Coaching Packages To Attract Dream Clients (And Mistakes to Avoid)
Learn how to authentically price your coaching packages to attract your ideal clients and maximize your business revenue.
Written by Dr. Kyle Elliott.
Pricing your coaching packages can feel like a Goldilocks dilemma. How do you charge enough for your services to make a living from coaching and cover your business expenses without pricing yourself at a point that scares away potential clients?
Speaking from personal experience, in the first few years of my business, I obsessed about how to best price my coaching services. Over time, I learned that focusing so much time and energy on how much to charge for my services took away from more important tasks, like building relationships with fellow coaches and referral sources, gaining additional skills and knowledge, and my favorite pastime, visiting Disneyland.
Today, I run a multi-six-figure solo coaching practice, and I’m incredibly proud of how I package and price my services. I’m confident in how I share the value I offer with prospective clients. However, it has been a journey, and I've learned many lessons along the way, which I’m excited to share with fellow coaches and service providers.
Continue reading to learn proven strategies for packaging and pricing your services, as well as common missteps to avoid along the way.
1. Know Your Numbers
Begin by knowing the numbers of your business. There shouldn’t be any guesswork as to what you need to bring in in order to make your target profit. Truthfully, this was an area of my business I avoided for many years. However, I quickly realized this didn’t have to be complicated; it just required my attention and diligence.
Consider questions like:
What monthly and annual expenses must you account for, and how might these change as your business grows?
What percentage of your revenue must you set aside for taxes and retirement?
What profit (income minus expenses) do you need to make to survive? What target income do you need to live the life of your dreams?
While many coaching businesses have minimal overhead, particularly if you’re working from home, expenses like taxes and insurance can quickly eat away at your bottom line. Once you consider these factors, you may realize that you’re undercharging for your coaching services and not giving yourself the resources to be profitable and sustainable.
Additionally, knowing your bare minimum profit requirements, as well as your stretch goals, will support you in pricing your packages in a way that aligns with your lifestyle.
2. Avoid Over-Researching Other Coaches’ Prices
As you develop your prices, resist the urge to spend too much time investigating what other service providers charge. This advice may sound counterintuitive, but I’m not a fan of basing coaching prices on what other coaches are charging.
Why? My goal isn’t to compete based on price. I want coaching with me to be like Disneyland—an experience you can’t find anywhere else.
When you create a coaching experience that is unique and one-of-a-kind—and learn how to package and market it as such—clients are really comparing apples to oranges if they attempt to price shop.
Importantly, you must be offering a truly distinctive experience if you want to price your packages in this way.
Ask yourself:
How can you make your coaching sessions unforgettable?
What unique methodologies or insights can you offer to set yourself apart from other coaches?
How will you ensure that clients leave each session feeling inspired, empowered, and transformed?
Your answers to these questions will help you develop a unique set of solutions and accompanying packages that are distinct and irresistible to your ideal clients.
3. Offer Solutions, Not Services
Speaking of which, focus on offering solutions, not services. What I mean is that you want clients to see their payment as an investment in their future, not merely an exchange of hours.
Yes, clients will technically receive a set number of sessions, but the real value lies in how they will feel because of your work together. What will be different in their life as a result of your partnership? This is what you want to sell!
Disneyland’s marketing team excels at this approach. When I buy a Magic Key pass, I don’t calculate the hourly rate. Instead, I’m paying for the opportunity to escape reality and experience “the happiest place on Earth.” It’s about the experience and memories, not the time spent.
That said, if you have a less savvy client, you might have to educate them a bit. You could say something like, “When you partner with me, you’re really investing in [specific solution], not X number of sessions.” Please feel free to use this framing during your next chemistry call with a prospective client. Shifting the focus from service to solutions highlights the true value of your work and the transformative impact it can have on your client’s life.
4. Don’t Assume What Clients Can Afford
As you share your pricing with clients, don’t assume what they can afford. Even though I’ve worked with more than 1,000 one-on-one clients, I’m still surprised by how people respond to my coaching rates.
Whether I was charging $5 (I started my business on Fiverr) or my current rate of $500 per hour, I continue to get responses on both sides of the spectrum—some saying that I don’t charge enough, others claiming that I’m outside their budget.
The reality is, there will always be clients who see your prices as too expensive, as well as those who see them as a steal. Your job isn’t to cater to everyone; it’s to find those ideal clients who are both willing and ready to pay for your services at your current price point. Remember, the right clients are out there; it’s just a matter of connecting with them.
Conclusion
I hope that these strategies empower you to price your coaching packages with confidence, knowing that the right clients are out there waiting for you. Please feel free to experiment with different solution offerings, and don’t hesitate to adjust your packages and pricing over time as you gain a deeper understanding of your ideal clients and how they respond to your marketing. As your coaching practice grows and evolves, so will your offerings.
On a final note, if you’re a fellow coach who is struggling with how to best package your coaching services to attract your ideal clients, please feel free to reach out. I’m here for you! You’ve got this!
About Dr. Kyle Elliott (he/him/his)
Dr. Kyle Elliott is the founder and tech career coach behind CaffeinatedKyle.com. His career coaching has empowered senior managers and executives to land jobs at top tech companies like Meta, Amazon, Google, and many more. When he’s not helping Silicon Valley’s top talent find jobs they truly love, you will likely catch him at Starbucks or Disneyland. You can connect with Dr. Elliott on LinkedIn, Instagram, Facebook, and X.
