Simple (nerdy) steps to decide how to deliver and price your health program so you actually make money, based on your current business metrics
I made this mistake and I see it all the time: Trying to build a business selling lower-priced products to a smallish audience.
This truly is a recipe for chronic low-income-itis.
And if this is you (No shame! I totally know what it’s like!) then you can turn it around today using this simple technique.
I invite you to watch this video if you are:
- Launching a health or lifestyle program and struggling with how to deliver and price it
- Frustrated with low-income-itis from nebulous and intuitive pricing concepts
- Looking forward to a fresh, nerdy take on delivery and pricing strategies
- Loving the credibility of being science-based and sharing well-supported health information
And the best news is that you don’t need thousands of engaged subscribers to make a decent income!
All you need is to understand the four main business metrics and how to adjust your income levers accordingly.
The levers of business income
Business income really boils down to four numbers. I like to think of the first three as being levers or dials that you can adjust and optimize to impact your business income:
- The number of people who see your invitations and offers for your products, programs, and services (your audience).
- How many audience members who see your invitations and offers decide to invest in them (your sales conversion rate).
- The amount of money each of those people invests (your prices, cross-sells, and upsells).
Together, these three then create the fourth number: your business income.
Some business coaches advise clients to price programs based on “what feels good” or “your worth.” I don’t know about you, but those data points don’t really speak to me. Personally, I need to use some facts and numbers to figure this one out because I’m much more of an inquisitive person rather than an intuitive one.
Let me show you how I approach these three income levers in hopes that they will help you too.
(Please help other online health entrepreneurs stuck in low-income-itis by sharing the link to this blog post with them.)
If you are looking to launch a health or lifestyle program and you’re struggling with how to deliver and price it (or you just want a fresh, nerdy take on delivery and pricing), I’ve created this video to help you out.
This video goes over:
- The critical differences between program content and blog content
- Where to get a healthy lifestyle program and what format each individual tip/lesson/module should be in
- The best tech to deliver your program content (hint: whatever works for you and doesn’t go against that platform’s rules)
- How to realistically price your program considering your income goal, engaged audience size, and sales process (in other words, let’s use 3 simple business metrics to come up with an intellectually informed number)
Here are the simple steps to decide how to deliver and price your program so that you reach your income goals:
If we want to calculate our program pricing, you need the three other metrics to get started:
- How much money do you want to earn (e.g., top-level, before taxes and fees)?
- How many engaged followers do you have (e.g., how many people regularly open and click links in your emails)?
- How successful is your sales process (e.g., how many people who see your sales page or chat with you end up buying)?
Using these three numbers, this video will show you how to non-intuitively come up with a target price for your program or services.
The bottom line
The bottom line is that the smaller your engaged audience and sales conversion rate are, the fewer people will invest in your program, so you need to charge MORE money in order to make the same income.
This is why people who have huge, engaged audiences and pay thousands of dollars for advertising and high-converting sales pages can charge so little for their programs: they’re going to sell to more people.
It’s simple (intuitive?) math.
The best way to start a business
Charging higher prices with your smaller audience when you’re starting out is a good thing! It gives you a chance to give A+ high-end service to help those few clients really reach their health goals. Using this business model you get coaching experience, feedback on improving your program, and amazing testimonials! Win-win-win!
The feedback and testimonials are going to allow you to improve your programs and improve your sales process.
Then, as your audience grows, you can start to create “evergreen” programs with very little regular coaching from you, and lower your prices.
Or, you can increase your prices and still deliver an amazing experience, but for a very select few clients.
I wish I’d started my business with this knowledge!
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Once you have a customized high-quality healthy lifestyle program, you can deliver and sell it however you want to. Choose your format and tech, then plug three numbers into a simple formula to figure out what price you should sell it for. Easy peasy (and intentional vs. intuitional).
Signing off and toasting: To selling programs in a way that reaches your income goals based on your current business model.
*Originally published March 2021, updated with more awesomeness in March 2022.
Over to you
How do you decide what format and tech to use to deliver your programs? How have you priced them in the past?
Let me know in the comments below! 🙂
P.S. If this was helpful, I invite you to subscribe to my newsletter. You’ll be the first to know when a new program or article becomes available in the Credible Health Blog Shop (and you’ll be in the know for special early bird launch prices and bonuses that I don’t advertise to non-subscribers). Join right here:
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I'm Leesa Klich, MSc., R.H.N.
Health writer – Blogging expert – Research nerd.
I help health and wellness professionals build their authority with scientific health content. They want to stand out in the crowded, often unqualified, market of entrepreneurs. I help them establish trust with their audiences, add credibility to their services, and save them a ton of time so they don’t have to do the research or writing themselves. To work with me, click here.