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Member Forums  »  Business & Marketing Forum  »  Biggest Challenge Post reply
 8-05-2008 07:12:51 AM
Rosemary
Rosemary
From: United Kingdom

Everyone is talking about the credit crunch and belt-tightening. How is it for you? What is the biggest challenge in your practice and is it any different now compared with a few months ago?

I'm curious to find out people's thoughts. I belong to another business network and opinions there are mixed.

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 8-05-2008 07:51:26 AM
Jon
Jon
From: New Zealand

Hi Rosemary, I am in New Zealand, so I don't know much about whats happening in the UK, but I have to keep uping my price to slow my diary. I am now $120 for a first time appointment.

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 15-05-2008 05:10:01 PM
Rosemary
Rosemary
From: United Kingdom

Hello Jon

Great to read your post. It confirms what we teach people about pricing. There's no reason to be afraid of putting up your prices. You don't lose business because of it. Your remarks prove it.

All that happens when you put your prices up are that you sometimes move into a different buying bracket.

Keep prosperous!

Rosemary

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 3-06-2008 12:56:22 AM
Asif
Asif
Moderator
From: United Kingdom

Hi there, I would agree wholeheartedly. Putting up your prices is the way.

As a clinical hypnotherapist I would get less client "buy-in" if i charged £20 per session as opposed to £50-60. I can only speak for my line of work however, in that the success of my sessions are not entirely down to me... I can only work with clients who are willing to change. A higher premium almost guarentees this.
It frees me up to do my work knowing the client is committed to the sessions we have together.

With everything rising in price here in the uk, the onus is on us as individuals to raise our level of income or win the lottery. Only one of those is within our direct control!

The other thing is to be creative with your marketing, position yourself differently. History has shown that the during lean economic times, most organisations cut back on marketing their wares first.... the opposite should be true. If less people are marketing/advertising in your sphere... you have greater advantage and greater chance of reaching people. If your potential clients see you dropping prices it also alludes to your instability as a practise.

My advice, press forward, raise your prices and set yourself up as a "premium" therapist, not a bargain baesment. The association between your pricing and how you are percieved is not to be underestimated.

Failing that, buy a pushbike, it needs no petrol.

Peace

Asif

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 3-06-2008 07:53:17 AM
Jon
Jon
From: New Zealand

I can only work with clients who are willing to change. A higher premium almost guarentees this.
This is one reason why Asif is 'the man'.

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 3-06-2008 08:03:31 AM
Ruth
Ruth
From: United Kingdom
Rosemary wrote:
Everyone is talking about the credit crunch and belt-tightening. How is it for you? What is the biggest challenge in your practice and is it any different now compared with a few months ago?

I'm curious to find out people's thoughts. I belong to another business network and opinions there are mixed.

I haven't noticed a change really and wonder if perhaps the credit crunch could work in favour of the wellness industry in that people might begin to look to what truly can make you happy?

Not clocking up £s on credit cards buying more stuff but investing in themselves, their health and ultimately happiness. One of the messages that I have used before is that Reflexology gives you a sense of wellbeing that lasts, it's true of any therapy the benefits stick around much longer than that buzz from buying a fab handbag or designer shoes!

Annother small trend I have noticed is that people who have stopped smoking perhaps due to the smoking ban or the increase in cost are seeing how much more disposable income they have to invest in themselves.

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 9-06-2008 12:20:51 PM
Rosemary
Rosemary
From: United Kingdom

Thank you everyone for your posts on this topic. I agree with Asif and Jon about charging for a premium service and Ruth makes a great point about people with extra money to spend and looking for more enduring satisfaction than retail therapy.

Any way that we can market what we do as a 'solution' to topical issues is good and, as Asif says, increase your marketing rather than decrease it. Another tip is to make sure you market well when you're busy. That way you minimise the risk of having flat times. It's no good thinking that you're doing all right and you can ease up on promotion. Keep a steady stream of marketing effort and you'll keep a steady stream of clients.

Rosemary

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 16-08-2008 03:19:20 AM
Elizabeth
Elizabeth
From: United States

Wow, this thread is full of great advice! You folks are a savvy bunch when it comes to marketing - hooray!

The key to pricing is VALUE - what's the true value of what you're offering, what are your clients going to get out of it, and how can you demonstrate that value? Value and price go hand in hand.

Most holistic practitioners I know could give themselves a raise immediately... :)

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 16-08-2008 07:46:07 AM
David
David
From: United Kingdom

Hi,
I guess that means that I have to give myself a rise then and charge for the value I believe I am.
L&L
Dave

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