Kirstin Carey

ARTICLES

Better information on how to attract more of the right kind of prospect and sell more services.

"Why You Aren't Making More Money"

I can assure you that no matter what you've been told, and even if prospects have said, "You're too expensive!" the reason you're not closing more deals and making more money is not because your fees are too high.

Let me prove it to you.

Think of someone in your industry whom you know is making tons of money and has lots of clients no matter how badly the economy is doing.  I bet that guy is charging more than you. 

So, if he's charging more than you, and he has lots of clients then how is it your prospects are saying you are too expensive?

I'll tell you why:

YOUR PERCEIVED VALUE IS TOO LOW.

Perceived value is how much the client THINKS you are worth which has a dramatic impact on how much the client is willing to pay for your services. 

Perceived value isn't determined by you, or anyone selling any thing for that matter.  It's determined by the people to which you sell and their perceptions. 

Don't get discouraged.

Just because your prospects' perceived value isn't determined by you, doesn't mean you don't have any influence on that perception.

You just have to learn:

·         how to find out what your potential customers want

·         why they want it

·         how they believe it will affect them once they have it 

There are specific questions and ways to determine this information, regardless of what creative item or service you are selling, and the methods to get the information are really very easy once you know how! 

PERCEIVED VALUE FROM THE RIGHT CLIENTS

Before you attempt to uncover your clients’ perceived value of your work, you must first understand if you are attracting the right clients.   

To figure this out, look back over the clients you have worked with and answer the following questions:

1) Did I enjoy working with that client or on that project?

2) If so, specifically why did I enjoy it?

3) If not, what did I specifically not enjoy?

4) Realizing now how much work was involved with this project (or client), am I happy with the amount of money I was paid or should I have charged more.

5) Did the client treat me as a vendor or a partner in the project?

6) Would I want more clients/projects like this one?

7) How did I get that client/project? How did the client hear about me?

8) What would I have done differently knowing what I know now?

9) Was it a struggle to get paid from that client?

10) Did the client refer more business to me?

11) If so, was it business I enjoyed or not?

12) Was this a good client for me?

MARKETING FOR THE RIGHT CLIENTS

If after looking over your client list and answering the questions above you realize that many or most of your clients weren’t ideal, then you need to shift focus to clients who are.  This doesn’t mean you need to throw your entire business away and start over, though it may mean you need to toss your marketing in the trash and begin fresh. 

Review your marketing and anything that represents your business.  Does it reflect what your (good) potential clients want or is it only attracting bad business? 

Are there testimonials from past clients who are similar to the type of client you are trying to attract?  Is the language used in your marketing language that will attract great clients or bad ones?

If your marketing and everything that represents your business (including you) does not reflect what your (good) potential clients want to see, then you will not get paid what you are worth.

UNCOVERING YOUR PROSPECT’S PERCEIVED VALUE

Knowing what potential clients think you are worth is crucial to knowing how (and how much) to charge.  The easiest way to uncover your prospect’s perceived value is to ask them specific questions that get to the root of what is important to them.

When meeting with a potential client for the first time, you need to ask them not only what they want, but WHY they want it.  Without understanding why, you will never really get to the core of their needs and their emotional reasoning for spending money.

Ask things such as:

o        What type of event are you interested in having?  Why is that so important to you?

o        What type of music do you want for this film?  Why is that style of music significant to you?

o        Are there special combinations of photos you want taken?  Why are those shots crucial to you?

The answers the prospect gives to the “why type” questions will help build value for you and your services.  It will also help give you a better understanding of what type of person you are dealing with and if they are really a potential (good) client or if they are a bad client.

Also, be sure to ask the prospect:

Have you worked with a professional wedding consultant before? 

o        If so, what was your experience?  What specifically made it good/bad?

o        If not, why are you interested in working with a consultant for your wedding?

The information that is revealed after these questions will give you loads of information on the prospect, what is important to her, and if you should dump her like a hot potato!

The more the prospect talks and the more she explains why she wants what she wants, the higher your perceived value will go.  The moment the prospect believes that you are the person who can give her what she wants, the way she wants it is the moment you will be able to charge what you are worth!

Not every person who contacts you is going to be the right client for you.  Some people just aren’t your client and you don’t have to turn every person into a true great prospect.  Keep in mind these questions are designed to help you not only learn how to raise your perceived value in the mind of the client, but to also separate the good clients from the bad.