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Never
discount the fees for your services. Have you ever heard
of a Dentist or Accountant offering a 25% discount on
their hourly rate? When you offer a discount or reduce
your regular rates, you're sending a message to potential
clients that your services really aren't worth what
you're asking. |
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Once
your clients realize that your fees have been discounted
or are negotiable, you'll always be fighting a major
battle to get paid what your work is worth. Never offer
discounts and your clients will understand that they're
expected to pay the asking price for your services.
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Overcome
your clients' price objections. Potential clients will
always inquire about your fees before they understand
the benefits provided by your products and services.
Quoting prices is meaningless until your prospects can
put the fees into the context of the results they can
expect. |
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It's
a good sign when prospects question your pricing! It
indicates a sincere interest in procuring your services
and a need to comprehend the value you provide. While
you could list all the benefits of your services, if
you really want to make the sale, it's much more effective
to let your prospects sell themselves. |
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It's
a good sign when prospects question your pricing! It
indicates a sincere interest in procuring your services
and a need to comprehend the value you provide. While
you could list all the benefits of your services, if
you really want to make the sale, it's much more effective
to let your prospects sell themselves. |
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Don't
get stuck on the rates you charge per hour. Instead,
help your potential clients define the monetary benefit
of your services. |
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When
prospects ask about your price, respond simply by asking
questions of your own to help them fully understand
for themselves the problem they want solved, the cost
of the problem, the solution they need, and how you
can effectively help them. |
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Prospects
are turned into clients when they think their expectations
will be met. Let them define their own expectations, and
they'll be far more likely to sell themselves when you
finally explain your pricing at the end of the conversation.
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Demonstrate
that you're an expert in your field. You can differentiate
yourself from the competition by writing articles that
regularly provide insight and ideas to your prospects
and clients. Use expert positioning and consider raising
your prices.
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Avoid
charging hourly rates. Unless you offer hour-long tennis
lessons, charging by the hour will surely limit your
earning potential. |
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If
you charge by the hour, you lose money if you work efficiently
or if you know a shortcut to finishing the job. Prospects
will always negotiate with you on the number of hours
they want you to work, undermining your ability to put
in the time needed to fully meet their expectations.
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Clients
want results. Help them understand and clarify the results
they're looking for and then set a project fee for accomplishing
those results. Make sure your contract allows you to
adjust your price in the event that the project changes
in mid-stream. |
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Always
use value-based pricing! You can pay anywhere from $30
to over $5,000 a night for a hotel room. Both provide
a roof over your head, a bed, and your own bathroom,
so why do some people willingly pay over 150 times more
for one than the other? |
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People
make purchasing decisions based on their perception
of the value provided. If they understand the true value
provided by your service or product, they may be willing
to pay quite a bit more than you're currently charging.
Closely examine the results you provide for your clients
and reassess your fees. |
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Leverage
your time and money for maximum earnings. Like most
service professionals, you have a limited amount of
time and money to spend on marketing. A large amount
of your time is spent on delivering services. |
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Is
your marketing helping you earn higher fees? Do your
prospects understand the unique value provided by your
work? If not, take a look at the way you're positioning
your business and adjust it to clarify your value to
clients. |
Are
you earning what you could be? If you'll apply one or
more of the above strategies, you'll be making more
money than you do now without working any harder! |
| By
, Lijo Peter (Business developer
- adsbangalore.com) |
| Email
: lijo@adsbangalore.com |
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