At the end of a meetingย or having submitted proposals, there might be that niggling feeling, did we go in too high or played it safe because we wanted to secure the business?
It’s a common emotion, but with planning, you can overcome this anxiety. Being clear and confident about your value, focusing on the exceeding your client’s experience can be a great place to start.
Here are some tips to help you achieve this:
โ
๐๐ป๐ผ๐ ๐ฌ๐ผ๐๐ฟ ๐ฉ๐ฎ๐น๐๐ฒ:
Recognise the value you offer your clients -how much you improve their situation – by applying your skills, expertise, experience, and unique service offerings.
โ
๐ฆ๐ฒ๐ ๐ฐ๐น๐ฒ๐ฎ๐ฟ ๐ฝ๐ฟ๐ถ๐ฐ๐ถ๐ป๐ด:
Be transparent about your services’ fees and be prepared to discuss them upfront, with no hidden fees or unexpected charges.
โ
๐ค๐๐ฎ๐ป๐๐ถ๐ณ๐ ๐ฌ๐ผ๐๐ฟ ๐ฉ๐ฎ๐น๐๐ฒ:
You should be able to show the benefits clients gain from working with you or your business, such as time or cost savings or increased revenue, supported by relevant data โ i.e. case studies or worked examples.
โ
๐ก๐ฒ๐ด๐ผ๐๐ถ๐ฎ๐๐ฒ ๐๐๐๐ฒ๐ฟ๐๐ถ๐๐ฒ๐น๐:
Understand what you want and what constitutes a mutually beneficial agreement. Define your BATNAโyour best alternative to no dealโand be confident to walk away if necessary.
โ
๐จ๐ป๐ฑ๐ฒ๐ฟ๐๐๐ฎ๐ป๐ฑ ๐๐น๐ถ๐ฒ๐ป๐ ๐ก๐ฒ๐ฒ๐ฑ๐:
The better you understand yourย client’s needs, including their pain points, desired outcomes, and the underlying job that needs to be done โas Clay Christensen would say โthe more effectively you can tailor your pricing strategy to align with the value they will receive.
โ
๐ข๐ณ๐ณ๐ฒ๐ฟ ๐ข๐ฝ๐๐ถ๐ผ๐ป๐:
Present clients with packages, each with varying levels of features and benefits, which allows the client to select the option that best fits their needs and budget while also allowing you to upsell or cross-sell additional services and make more revenue.
โ
๐๐ผ๐ฐ๐๐ ๐ผ๐ป ๐๐ผ๐ป๐ด-๐ง๐ฒ๐ฟ๐บ ๐ฅ๐ฒ๐น๐ฎ๐๐ถ๐ผ๐ป๐๐ต๐ถ๐ฝ๐:
Prioritise building long-term relationships based on trust and mutual respect while providing value. Demonstrating your commitment to their success can increase the likelihood of repeat business and referrals.
โ
๐๐๐ฎ๐น๐๐ฎ๐๐ฒ ๐ฎ๐ป๐ฑ ๐๐ฑ๐ท๐๐๐:
It’s crucial to reassess your pricing strategy regularly. For instance, I recently spoke with a client who hadn’t adjusted their fees in four years. When they finally did, it led to client complaints. It’s essential to keep your fees relevant and not delay increasing them.
By implementing these strategies, you can prevent missed opportunities to increase revenue while delivering on customer experience.
