Being Mindful of the Market

There is a shift happening in the online space. Have you noticed it? It might just be in the circles I am in, but the days of the high-ticket, high commitment, high-touch offer seem to be dwindling in favor of lower-ticket, easy-access types of offers. In days of uncertainty, like we are in now, it seems like people are less willing to commit to high-ticket offers. Let’s talk about being mindful of the market and how you need to be willing to adapt. 

 

Adapting to your market.

What I want you to gain from this is you need to be willing to adapt to the changing marketplace, industry, and environment. You need to be able to adapt to the needs of your clients and see and understand certain trends. Right now in May 2022, there is a shift happening.

 

The market is changing.

I’m seeing a need to change and adapt to give people a lower entry point offer. Truly, I think the days of the high-ticket, high-commitment, and big signature offers are dwindling. I think that there’s still a need for that depending on the service that you provide, but for many service providers, it’s not the case.

What I’m seeing is there’s a lot of uncertainty in the world right now. There’s just a lot going on. So in a period of uncertainty, people are not necessarily willing to always commit to these high packages. But that doesn’t necessarily mean that they’re not willing to invest in their business. This is why lower entry point offers are a good idea right now in this market.

 

Everybody is just busy. 

When I talk to people and ask them how they are doing, the reply is almost always that they are busy. We’re all busy. So you have to be willing to understand that and adapt. Having these high-level, high-touch programs may be more overwhelming than helping in a lot of ways right now. 

 

People are in a state of needing immediate quick wins. 

They want you to help them get through their current struggle right now and then move on. I really want to encourage you to look at your offers and see if you have a lower entry point offer that can get your audience that quick win. In this market, instant gratification is king.

 

In the current market, a lot of people have been burned. 

Do you have something where people can try things out with you? They got burned by these high-end packages or big-name coaches. Because they’ve been burned, they’re not willing to invest like that again.  

Here’s an example…there was a woman who was a cold lead that reached out to me on LinkedIn. We had a great conversation on a discovery call. She told me she was going to let me know what her decision was to work with a coach in q2. Then, I no sooner got an email that said, “I can’t make a decision. I’m not ready. I still need to find more clarity around this, and I’m just not ready to do it.” 

When I responded, I did tell her that I offered power hours if she ever just needed to get unstuck or needed help to find clarity. She immediately booked it within a week and paid. Then from there, she decided to move on to my higher level coaching package. Had I not offered her this lower entry point offer, would I be working with her right now? I really don’t think so. To be honest, I just don’t think she would have understood the value of the big investment. 

 

Some of these lower entry point offers work.

A few that come to mind are the VIP day model, the Power Hour model, and this laser coaching package that I am now offering called Rapid Fire Laser Coaching. They work because it’s not a huge time or financial commitment. It doesn’t mean it’s bad or that I devalue my services in any way, shape, or form. It’s me seeing a need in the market and adjusting to it

I’ve also experienced it as a client, and I love it. So I really think this is what my audience is needing, and it’s resonating. Why? Because it gives them quick wins! It’s not this overwhelming commitment on their calendar every single week. They can meet whenever it’s convenient for them.

 

Your low entry point offer doesn’t have to be cheaper. 

I have one client whose low entry point offer is cheaper than her packages because it makes sense. She wants people to try it out and experience what it’s like to work with her. It’s a one-time deal. They can’t continue to get this lower price. My Power Hour is almost the same exact price as one month of laser coaching with me. Why? Because it’s a one-off. It’s the same amount of work, and I’m giving you an entire hour. 

 

Be mindful of the market.

You have to be willing to change and adapt. If you have an offer that’s not converting, look at it and figure out why. It doesn’t mean that the offer is not good. I have my six-month coaching package that’s not converting. But it’s just not what people need right now. So find ways to change and adapt based on your market. It’s not to say I’m getting rid of it. If someone wants it, I still have it available. But if it’s not what they need, I have other options available too. 

It’s time for your back pocket offers to come up to the front pocket. What can you do to make sure you can give people a quick win while also honoring the fact that they’re not meeting or wanting that high-level commitment? I love to hear your thoughts on this. Jump into my Facebook group and tell me your thoughts. What are you seeing? Let’s open up the conversation because I think it’s a conversation worth having.

 

Apple |  Spotify | Google | Stitcher | Youtube

 

Connect with Michelle-

Have Questions? Let’s have a Cup of Virtual Coffee!

 

 

Want in on the Secret?

Secret Small Doses is an EXCLUSIVE email (you can only access them by being on the list -that’s why it’s a secret!) that goes out every other week with “secret” mini-trainings to help you grow your business, create long-term sustainable success, and grow your business in unique and genuine ways.