To be a leader myself, I have to be transparent—not only in how I lead but also in how I do business. I believe in sharing my strategies openly with those who are willing to listen, learn, and grow. This article is dedicated to one of the best business coaches out there, Heather Rose Boehme , whose guidance and expertise have inspired me to refine my approach and share these insights with you.
As a leadership consultant, success is measured not only by the growth and transformation of your clients but also by the sustainability and scalability of your own business. One crucial element that often determines success—and is frequently overlooked—is your pricing strategy. Pricing isn’t just about numbers; it’s a reflection of value, perception, and trust. Getting it right can set you apart, drive your revenue, and create long-term client relationships.
This is where understanding the psychology of pricing becomes essential. Over the years, I’ve learned that pricing isn’t static; it requires careful testing and iteration. Let me share my approach to optimizing pricing strategies through a system I call the Scale with Science Protocol. This method uses data-driven testing to determine the most effective way to price and position your services.
The Three Stages of Testing Pricing Strategies
1. Directional Testing
The first step is to quickly and cost-effectively identify the type of pricing structure that resonates most with your target audience. In leadership consulting, this might involve testing whether clients prefer hourly rates, retainer-based pricing, or package deals. Here’s how to get started:
- Set Up Simple A/B Tests: Create two offers—one based on a flat fee and another with a tiered pricing structure. For example, compare “$500 for a one-hour session” with “$1,500 for a 4-session package.”
- Test on Social Media: Use platforms like Facebook or Instagram to run ads targeting your ideal client. Your goal isn’t immediate sales but to measure which offer generates the most clicks and engagement.
- Budget: You only need a small budget—$50 is sufficient to gather directional data. This step helps you eliminate options that don’t resonate.
2. Statistical Testing
Once you’ve identified the general direction, the next stage refines your pricing to optimize conversions. This phase is more granular and focuses on specific numbers, formats, or messaging.
- Refine the Winning Offer: Take the format that performed best during directional testing and adjust the pricing to test sensitivity. For instance, does “$450” outperform “$499”?
- Focus on Conversions: Use tools like Google Analytics or CRM data to track how many inquiries or bookings come from each tested price point.
- Iterate Messaging: Consider tweaking the phrasing of your offer. For example, does “Save 20% on your first session” outperform “Get $100 off”?
3. Revenue Testing
This is the final stage where you’ve identified a pricing strategy that resonates and converts. Now, it’s time to scale your efforts while monitoring profitability.
- Launch Campaigns: Roll out your winning pricing structure in a larger campaign. You might consider pre-order offers, limited-time discounts, or bundling services for maximum appeal.
- Optimize for Profit: Use analytics to monitor metrics like customer acquisition cost (CAC) and lifetime value (LTV). Ensure that the revenue generated from your pricing strategy outweighs any promotional costs.
- Adjust as Needed: Even at this stage, continuous monitoring is key. Market trends, client needs, and competitor actions can all impact pricing effectiveness.
Join the Journey: Elevating the Coaching and Consulting Fraternity
The journey to becoming a successful consultant or coach is not one you must walk alone. It’s a path filled with growth, collaboration, and transformation. As members of the esteemed coaching and consulting fraternity, our work is more than a profession—it’s a shared commitment to empower others, create impact, and elevate our field.
Through my content, resources, and coaching services, I am dedicated to helping aspiring and established consultants navigate challenges, seize opportunities, and celebrate victories. This article is an invitation to join the journey, and it is dedicated to one of the best business coaches out there, Heather Rose Boehme, whose wisdom and leadership continue to inspire me.
Why Pricing Strategy Matters in Leadership Consulting
Leadership consulting is a deeply personal and value-driven industry. It’s not just about offering advice; it’s about transforming lives and businesses. Your pricing strategy plays a critical role in communicating the value of your services and shaping client expectations.
For the coaching and consulting fraternity, pricing isn’t merely a financial decision—it’s a reflection of the impact we aim to deliver. To ensure that pricing is both strategic and effective, I developed the Scale with Science Protocol, a framework designed to test, refine, and optimize pricing strategies. Here’s how it works:
- Directional Testing: Quickly test different pricing structures—like dollar-off vs. percentage-off discounts—using small-scale campaigns. This allows you to identify what resonates most with potential clients.
- Statistical Testing: Refine the winning strategy by testing various price points to balance client value and profitability.
- Revenue Testing: Launch full-scale campaigns to maximize revenue while maintaining alignment with your mission.
This approach ensures that your pricing reflects the unique benefits of your services, empowering you to grow your practice sustainably and confidently.
A Commitment to Empowering the Fraternity
As a member of the coaching and consulting fraternity, I’ve learned that our greatest strength lies in our willingness to share, support, and grow together. Transparency and collaboration are at the heart of my approach. By offering actionable insights and resources, I aim to demystify the path to success for those who aspire to join or excel in this transformative field.
Supporting the Fraternity: My Approach
Here’s how I’m contributing to the growth of our industry and helping others succeed:
1. Actionable Content
Through my blog, articles, and social media, I provide practical, in-depth advice on topics like:
- Building a Foundation: Setting up your practice, creating a brand, and acquiring your first clients.
- Pricing Strategies: How to test, refine, and optimize your pricing for maximum impact.
- Client Relationships: Developing trust, maintaining professionalism, and building long-term partnerships.
2. Video Tutorials
For visual learners, I’m creating tutorials that break down complex concepts into simple, actionable steps. Topics include:
- Crafting compelling value propositions.
- Designing personalized growth plans.
- Leveraging social media for marketing and client acquisition.
3. Interactive Workshops and Webinars
Live sessions allow for real-time feedback and engagement. Upcoming topics include:
- Leadership Development: Enhancing your own skills to better guide others.
- Scaling Your Business: Strategies for sustainable growth.
- Market Trends: Insights to stay ahead in an evolving industry.
4. Free and Premium Tools
I’m developing resources to simplify your journey, such as:
- Ready-to-use templates for proposals and contracts.
- Step-by-step frameworks like the SCHIELE Method.
- Dashboards to track KPIs and manage client progress.
5. Personalized Coaching
For tailored guidance, my one-on-one sessions focus on:
- Identifying and overcoming roadblocks.
- Developing actionable strategies aligned with your vision.
- Building confidence and honing leadership skills.
Looking Ahead: What’s Next
This journey of growth and collaboration doesn’t stop here. Here’s what’s on the horizon:
- Case Studies: Real-world examples of consulting and coaching success to inspire and educate.
- Community Forums: A space to connect with peers, share experiences, and learn from one another.
- Certifications: Programs to formalize expertise in proven methodologies.
Let’s Build Success Together
The coaching and consulting fraternity thrives when we lift each other up. By sharing knowledge, supporting one another, and staying committed to growth, we elevate not just ourselves but the entire industry.
If you’re ready to take the next step, I invite you to explore my resources, connect with me, and let’s grow together. Visit www.BearSchiele.com or follow me on social media for insights, tools, and opportunities to thrive in this incredible journey.
Let’s redefine what it means to lead, grow, and succeed—together.
