4 Common “Thought Errors” Around Package Discounts and How to Correct Them for More Money and Ease in Your Business
Prepaid discounted packages are a win-win for practitioner and client
Do you love a bargain but hate to give your customers one?
As a business mentor, I’ve worked with service providers (e.g. bodyworkers, coaches) who hate pricing a bundle of sessions at discount. Here are the most common reasons given:
1. “I have too much self-respect to devalue my work.”
You are not the hapless victim in a power struggle with your client. You’re actually getting the better end of the deal, just not one measured in dollars. More packages might mean less revenue, but you get all the cash at once, which creates more stability and predictability in your business. You won’t be white knuckling it every week wondering if you can pay the bills. In business, great cash flow collection is the best stress reliever.
2. “I want to get paid each session. Getting a one-time lump sum makes me feel like I’m working for free each week.”
Your desire to have your palm constantly crossed with silver is thwarting you. A dollar today is worth more than a dollar tomorrow (blame inflation). A discounted bird in the hand is worth two full priced ones in the bush, who may fly away and never come back. You weren’t working for free, you just forgot you got the dough upfront.
3. “If I sell a package I’m afraid I’m guaranteeing an impossible result at the end.”
Your perfectionistic fear is stabbing you in the back. A client committed to their healing, who’s showing up week after week because they’ve paid upfront, is more likely to get better results than one who shows up every blue moon. Your client just wants a fair exchange, not for you to suddenly walk on water. It’s about them paying less to invest in their health, not about them creating different expectations for the results they will get.
4. “I don’t want to ask for such a big sum upfront, even if it’s a good deal.”
Your clients are adults. Let them decide whether they can afford to pay upfront to get a great deal, be assured of a spot on your calendar, and commit to their well-being. You are depriving them of those benefits out of cowardice.
Don’t let your unhelpful thoughts around discounts sabotage your business. Partner with your clients in a mutually beneficial way and watch your business thrive with ease and grace.