The other day, I was on the phone with someone who was interested in hiring me to coach her on her marketing strategy…
(Side note: she’s a marketing consultant)
And she confessed that if things didn’t turn around for her business soon, she was going to have to get a J.O.B.
Dun dun DUNNNNNN!
“Nooooooo!” I cried!
It does NOT have to come to that.
What I said to her then is the same thing I’ll say to you now:
You are ONE GREAT CLIENT AWAY from turning this whole situation around.
However— in order for that to be true, you’re going to have to do one very important thing: RAISE YOUR PRICES.
Her question was, “Yeah, but… how do I SELL at higher rates when I have all these money scarcity issues and impostor syndrome and I’m not famous in my field?”
That’s what you’ll find out right now on NerdyGirl TV…
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Is this you?
Have you ever felt like you might not have what it takes to command the prices you want to charge for the service you provide?
It’s a common problem. I see it all the time.
Coaches, consultants, freelancers and other service providers who lack confidence in their experience level, credentials or even the size of their social media following often get themselves into BIG financial trouble because they undercharge and let their clients walk all over them for fear that they won’t be able to get MORE clients in the future.
Unfortunately, what tends to happen as a result is that they’re CONSTANTLY working, which means they have no time to grow their businesses, which means they get more and more desperate for clients, which poisons their sales conversations…
And the next thing they know, they’re broke and miserable.
Now, WHY does this happen? And how can we make sure it doesn’t happen to you?
One of my pet peeves is the popular phrase “charge what you’re worth”. What does that even mean, anyway?
Quote me on this: Sure, I’ll charge what I’m worth! That’ll be one BAZILLION dollars, please!
I find that one of the most common reasons you might undercharge for your services is because you think the client is paying for “YOU”.
Your experience. Your resume. Your fame. Your charisma. Your… some other fifth thing.
But even though that’s KINDA true, it’s not TOTALLY true.
When I’ve hired service providers (and I’ve hired a LOT of them), it’s NEVER been about that. It’s been about the way they made me feel, the specific offer they made, and the outcome it promised.
So let’s break those things down, shall we?
The way they made me feel
I, like a lot of business owners, make a lot of my decisions based purely on instinct. I have a deep level of trust in my gut.
Which means, if I’m on a sales call with someone and my gut reaction is, “I’ve got a feeling this offer is going to help me get what I want,” I usually say yes.
I have never once regretted a decision I made based on that sort of reaction, and based on the conversations I’ve had with high performers in a variety of fields, I can say with some certainty that when it comes to closing high ticket clients, you should DEFINITELY pay close attention to the way you make them FEEL.
The challenge is: how do you create that sort of confidence in your prospect if you don’t feel confident?
The secret is NOT to lower your prices. The secret is to STOP THINKING ABOUT YOU entirely!
Your sales conversation is not about you, it’s about THEM!
Which means that your ONLY FOCUS should be becoming OBSESSED with understanding what they want and making it clear how you can help them get it.
Which brings me to the next thing that makes me invest in high-level services:
The specific offer they made
So much of what I invest in comes down to who happens to show up and make me a great offer at the right time.
I don’t always hire the “best in the industry” or the most experienced or the cheapest or the most expensive. It’s not really about any of that.
Like you, I have a million demands on my attention at any given time.
I don’t have time to comparison shop like crazy.
Which means if I’ve been thinking, “I could really use some help with my PR for this book I want to launch” and somebody in my news feed posts an offer for PR services for book launches, that person has a pretty high probability of getting my business just because nobody else in my world is making me a similar offer at that moment.
There are a lot of things you could take away from this, but here’s one thing: a great way to raise your prices is to make better OFFERS.
A great offer is not designed around a service, it’s designed around an OUTCOME. Don’t tell me you’re going to “manage my Pinterest account”— tell me you have a proven method for doubling my engagement within 30 days. Tell me what I’m going to GET as a RESULT of your service. And you can be as committed as you want to this result— the more confident you are about it, the lower the perceived risk will be, so it’s definitely worth a try.
Let me give you an example.
Just last week, I hired a coach from something she posted on Facebook that said “You will have the exact outcome you desire in 3 months or I will give you a full refund!”
I had never seen anything like that!
I had been thinking I might hire this person for months, but she had never made me an offer I actually wanted— until now. I booked a call right away and hired her on the spot.
And here’s the crazy part: when she was drafting up the contract, she asked me how I wanted the refund clause to be phrased and I told her, “you know what? I would never actually ask for that refund. I know that whatever happens is going to be for the best.”
So in the end, it wasn’t even really about that. The offer was compelling because she was so confident that she could deliver results, it made ME feel confident that even if things didn’t go exactly as planned, my results would still be awesome anyway!
The way to FEEL CONFIDENT about making a bold claim is to know who your ideal client is and know what the most valuable thing you can do for them would be, start delivering that, and keep track of the results. If you can tell the prospect about past results you’ve helped people achieve, it’ll help you speak confidently about your ability to get similar results for them.
The outcome it promised
Ultimately, it’s very true that in the words of my new bestie Lisa Sasevich, “they don’t buy the plane, they buy the destination.”
So in your sale, the focus doesn’t have to be on YOUR WORTHINESS because all the prospect really cares about is their OWN INTERESTS.
Make them feel safe in your hands by walking them through your process and saying things like “if you were a client, here’s what we would do” and “in the past when I’ve worked with people in your situation…” and above all, make sure you know EXACTLY what they want so you can sell them the best possible solution to help them get there.
Don’t price your offers based on tasks— price then based on outcomes and if tasks SHOULD be packaged together to create a specific outcome, then package them together! You’re the expert. Stand behind your offers and your prices and don’t waver. If you need to cover your mouth on the phone after you say the price, DO IT!
Quote me on this: Never assume the client can’t afford it. You don’t know their life!
Here’s the problem…
Truth: raising your prices and standing behind them could absolutely, positively SAVE YOUR BUSINESS.
I also see lots of entrepreneurs who raise their prices and STILL go broke because they can’t sell their services at those rates. As much as I would love for the suggestions in this video to be enough to make the difference for you, there are still a lot of things we haven’t covered—
Like how to attract the right sorts of prospects…
How to run ads to fill your pipeline with qualified leads…
How to know WHO you should be attracting…
How to brand yourself so higher spenders aren’t turned off by your online presence…
…and about a million other things that could derail your progress as you work to uplevel your clientele.
Which is why I’ve created a fun little resource I’d like you to try called the Strategy Generator. It’s an automated series of questions I created to guide you through the process of figuring out the one thing you MOST need to address on your road to success (I call this your “kryptonite” or your biggest weakness).
If you decide to enter the strategy generator, when you come out on the other side, you will NEVER BE THE SAME!
Just kidding. You’ll probably be about the same. BUT you will ALSO be taken to a quick video where I’ll explain what your best next move should be based on the multiple choice options you clicked.
At the end of that video, I’ll offer you a solution I created to help you solve that specific problem, which you’ll be welcome to purchase, or decline and go on about your day.
Sound like fun? Would you be curious to know what the Strategy Generator has in store for you? Click the link in this post to go there now!
I’m Brittany Bullen and this is NerdyGirl TV.
Ready to Get Nerdy?
Click here to fill out your Strategy Generator and find out what it has in store for you!