In this episode of the Leveraged Practice Podcast, Stephanie Clairmont dives deep into current market trends and consumer behaviour to answer the burning question: should you lower your prices?
She discusses the impact of inflation concerns, discerning consumers, and the increasingly noisy online world on your health and wellness business. Stephanie provides actionable advice on creating a tiered product portfolio, leveraging different online program models, and adapting your marketing strategy to build trust and rapport in today's market.
Key Takeaways:
The online learning and health and wellness industries are still growing despite economic concerns.
Consumers are more discerning and price-conscious, demanding more value and touchpoints before purchasing.
Lowering prices is not always the solution; creating a diverse product portfolio with tiered pricing is key.
Diversifying income streams with leveraged offers like group programs and self-study courses can increase revenue and impact.
Marketing strategies must adapt to build deeper relationships and trust with potential clients.
Actionable Steps:
Analyze your current offerings: Evaluate your current services and identify opportunities to create different tiers or package your expertise into various online program models.
Explore the 7 models of online programs: Sign up for Stephanie's free training to learn about the 7 different models and how to expand your product portfolio with various price points. LINK
Create captivating offers: If you're struggling to sell your existing online programs, consider Stephanie's "Captivating Offers" course to master packaging, positioning, and pricing. LINK
Adapt your marketing plan: Incorporate long-form content like blogs, podcasts, and newsletters to build rapport and nurture relationships with your audience.
Resources Mentioned:
Remember: You have the power to make a bigger impact and achieve greater success by understanding market trends and adapting your business strategy accordingly.
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