Discover Your Ideal Clients and Charge More
In my previous article, Vision + Consistency = Tonnes of Clients!, I shared with you that your marketing system can be put in place fairly quickly and with relatively little expense. I suggested you first focus on your Vision for yourself and your business, and then I asked you to consider:
- why you started your business in the first place
- if you wanted to work more on your business than in it, and
- whether you want to remain as a "solo-preneur" or if you want expand and add staff
Would it surprise you to know that everything you do in your business – from what value you provide your clients, to what you charge, what kind of hours you work, and what types of clients you attract – all comes down to what LEGACY you are committed to creating?
Determining your purpose and turning it into your business should become your mission. Your mission and how you plan to take it to the marketplace and serve is what determines who you are, what you contribute, and what you will eventually be known for when you leave this earth.
Whether you are a photographer, an interior designer, a health and nutrition expert – you name it, it isn't about what you do that counts to your clients, it's about the transformation that you help them produce. Put another way, it's not the process of what you do that causes a prospective client to invest in your product or service. It's the results they believe they will achieve by working with you that determines your value in the marketplace. By focusing on communicating your transformational value to your prospect, you can actually work less and charge more.
Very often, when I start mentoring a client, they feel that in order to make more income, they either have to work harder or add more "stuff" to their product offering in order to justify charging more. Or, they simply deduce that they need more paying clients to bring in more revenue.
Instead of trying to attract a greater volume of clients, what if you could attract fewer clients who each represent greater value to your business? By being clear on your Mission and your Transformational Value, you can do exactly that. But, you have to stop selling what you do and start selling how you help you clients.
By working with fewer clients who pay you more, you are accomplishing a number of significant things for both yourself and your clients. Let's just explore that:
1. Fewer Clients
When you work less hours with fewer clients, you can afford to serve them more effectively. If you believe that your contribution is to serve others (which I do), this premise allows you to be more effective in transforming the lives of those you work with. You will find yourself more able to be fully present, less stressed and more "intimate" in your work with them. You can afford to provide much more hands-on support when you serve less people.
2. Higher Value
If you build your value on higher-priced products/services, you can afford to stay in the game long enough to truly be of service. How would you feel if you knew you were providing really good value but couldn't afford to stay in business because you weren't charging enough? Then one day, someone (many people) call, only to find you've gone out of business? Or worse, you've become a burned-out wreck! You can't serve others if you don't serve yourself and your needs first.
3. Charging More
By charging more for better results, you actually develop client loyalty. The more "skin in the game" they have, the more likely it is they will continue to buy from you over and over. They will also provide you with more high-quality referrals because they can point to tangible changes for which you were responsible. Think about it: if they know your product/service produces results, why would they want to switch to investing in an unknown?
Marketing Assignment (Part 2)
1. What is your Mission?
What Legacy do you wish to create? By getting really clear on this, you are better able to answer the next question, which is…
2. What is your Transformational Value?
Write out exactly what results someone will achieve by working with you or purchasing your products. Be sure to keep you and what you do, out of the equation. This is all about them! What will their life look like when they avoid the pain or achieve the gain?
3. How do you communicate your Value?
Write out exactly what you will say the next time someone asks, "What does it cost to work with you (buy your product, etc.)?" If you are not 100% prepared for this question or you give them a number right up front, you may as well kiss the prospect goodbye! Abraham Lincoln would spend two hours sharpening his axe and one hour cutting down the tree. Knowing how to communicate value, versus quoting your price, will be one of the most significant things you will do in your business. It will allow you to work less, attract the right clients, and take your business and your income to the next BIG level!
Until next time, remember to market authentically and attract new clients by design!
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