Believe it or not it can be very easy to make a difference to your hypnotherapy business revenue with some simple tweaks to the way in which you work. Here are just ten ideas which can help you to improve your earnings that are actionable today.
1) Raise Your Prices – Such a simple thing to do but so many therapists seem to lack confidence in their abilities and what their local market can sustain. In the recession when I started my business I actually raised my prices each year and I found that the demand for my services actually increased. Having cheap session prices sends out a signal to your potential clients that you offer low quality services. Oh and if you live in an affluent area you most certainly should have high prices and never discount. Unbelievably I see many therapists offering bargain basement prices to people in areas with multi million pound houses! If you are one of them stop subsidising your clients Planet Organic habit and raise those hourly rates now.
2) Upsell – Not sure what that means?It means offering a product or service to your client which is more than they originally intended to purchase. So if a client rings you and wants help with sugar addiction and you find that they actually also suffer from anxiety then you can up-sell your services to deal with that problem as well. This will benefit the client as their sugar problem may be fueled by the anxiety. Now instead of seeing your client for one or two sessions you may be seeing them for four to six. Remember this always has to be done ethically so you are not selling your customers services they don’t need.
3) Cross-Sell – If you have other services that you can sell then those can also be offered to your client. For therapists perfect examples of this may be offering your customers audios or apps to assist them in times when they are not in your sessions. Perhaps you have an eBook which has lots of useful tips for a client which they can buy. This advice can be applied to just about any therapist. I know that I recently visited my local Osteopath and I noticed that he sold no products at all in his clinic. Madness! So all his customers who visited him who were told to buy ice packs or surgical tape were heading to the local chemists instead of purchasing these things directly from him. I would have loved the convenience of getting the things I needed then and there especially when I was in pain. The last thing I wanted to do was make another trip somewhere else. Since I pointed out the error of his ways he has gone to a wholesaler and is now starting to sell some of these products. My guess is that he will increase his revenue by 20 to 30% by this simple action.
4) Bundle – I use this tool all the time. Earning more money by bundling products together. A perfect example of this are my hypnosis downloads. I have a number of weight loss audios when sold individually cost around £9.99 each. Now however I have created a full premium weight loss program out of these audios and these retail for £39.99!! You can do the same bundle your sessions or services and watch your profits increase.
5) Get Rid of Bad Customers – 99% of your customers will be great. They will pay on time, be friendly in your sessions and generally cause you no problems at all. Then you will get the one customer who makes your life hell. They are always late for appointments, they continually ask to change their appointment times. They don’t pay on time and want to speak to you on the phone for hours between their sessions. When you make the decision to not deal with these people your life will be so much simpler and it means you are freeing up your time so you can concentrate on other areas of your hypnotherapy business.
6) Take Money up Front – Even better never deal with a bad paying customer ever again and take their session fee up front. I do that with all my customers. Either they pay for individual sessions up front or I take a deposit for multi session products. Never fear this approach. If a customer is reluctant to pay for their sessions up front then you know they are likely to be the very people who wouldn’t turn up for their booked sessions.
7) Invest in the Longer Term – With the profits that you are making in your business you need to invest some of that money into longer term investments. Perhaps some of those profits can be used to creating online training programs, apps, audios or other helpful products that you can sell when you are asleep. This will help you to grow your hypnotherapy business beyond seeing customers and clients one to one.
8) Sell to Multiple People – There are only so many hours in a day which means that if you are seeing one to one clients you will eventually hit a ceiling on your income. Sell to groups of people and you can earn greater revenue if done well. Corporate well-being work is a perfect example of how this kind of work will be much more lucrative than seeing individual clients.
9) Extend Your Market Area – Are you just trying to sell your services to people in your home town? If so think again. People will come and see therapists from miles around so start thinking about advertising your services to your whole county, region or even country!
10) Get Help – Hire a marketing mentor to take your hypnotherapy business to the next level. For a relatively small investment you can transform your business by getting someone to help you transform your business. With the right advice and guidance your business could significantly grow. One of my recent clients has found that her revenue has increased by 30% already and now she has hired two new staff members to help with the workload. My guess is that by the end of year we will have doubled her previous years revenue. Probably the best investment decision she has ever made.