Archive for March, 2010
Are you trying to be all things to all people in your business? Or, even in your personal life, for that matter? If you are, your head is probably spinning, trying to figure out exactly who you are and exactly what your expertise is.
You may think it's easier for you to offer a general selection of services. The broader your area of expertise, the more clients you think you'll attract. However, quite the opposite is true. When you stand up and declare your specialty, clients will view you with confidence and place greater value on your knowledge and skills.
You can make this happen on purpose, or if you really take notice, you might see a trend regarding the clients you attract. For example, one client of mine is a coach and a mom who wasn't specific about her audience or her specialty. In her words, "When I started out, nothing really happened."
In her case, she started attracting clients who were moms. She was a mom herself and other moms could relate to some of the scenarios she presented in her business. Her niche more or less found her, but she realized it and focused her business around that niche.
Now she's known as an expert. Journalists cite her as a source for articles, which results in lots of PR for her company. And now, she has clients calling her who aren't even moms, asking her if she would consider working with them.
That's a nice situation to be in – people asking if you'll take them on as a client.
Being recognized as an expert rather than a generalist can make a tremendous difference in your business. No one is going to hand you a "certified expert" certificate. The secret of being an expert is having the guts to appoint yourself as one.
You aren't claiming knowledge and expertise that you don't have. You just need to take the step and say, "I am now an authority on…" or, "I specialize in…" It's amazing how quickly things can organize themselves around that.
The fact of the matter is that you probably do know a lot of facts and figures about your particular area. You notice similar problems or situations that come up over and over, and you learn how to address and solve them. Because you look for that information, you do become an expert.
Each step leads to the next step. Once you recognize these recurring topics, you are familiar with the environment that leads to them. So, if you were to write an article, or speak to a potential client, the specific phrases and language you use will resonate with them because they have also used them repeatedly.
That person will get the feeling that you really understand what they're going through. That's what clients ultimately want, and that's what you can give them by specializing.
Bernadette Doyle is a marketing specialist who helps entrepreneurs become client magnets and attract a steady stream of their ideal clients. She publishes a free, weekly newsletter for trainers, speakers, coaches, consultants, complementary therapists and solo professionals. If you’d like to receive invaluable tips and advice on how to attract clients with ease, register at http://www.clientmagnets.comTweet
"How much will clients pay to solve this problem?"
When deciding on a price for your product, base the price on the value the product delivers to the end user.
Dan Kennedy uses the phrase "selling money at a discount." What does he mean? Imagine a product that is proven to increase clients' sales by 20 percent. If a client is already turning over £100,000 in sales, that product is worth £20,000 to them. It should sell for £2,000 – that's its value. That is selling money at a discount.
If your product can't be so clearly quantified in monetary terms, offer clients a comparison to show them how much they will save.
For example, if your product will help people stop smoking, calculate how much they are currently spending on smoking, then show the cost savings of that figure and how your product will help them to achieve it.
Though you might be tempted, do not base your price on the cost of creating the product. Evaluating the production cost and then adding a markup is not the way to do this. Neither is comparing your product to other things on the market.
Set your price according to the problem you are solving.
An e-book that you create to solve a specific problem cannot be compared to a book that's sold in a bookstore, even if it's on a similar topic. That book in the store might sell for £20, but that doesn't mean your product should be priced the same.
You are not selling a bookstore book. You are selling a plan, a way for your clients to achieve the results they want. It is much more than the format in which it's delivered. That result might be worth £69.95, or even more.
Charge more for a product that can be delivered in multiple formats. Think about the things that will be really attractive and irresistible to users, such as DVDs, manuals, templates, and audio products..
Focus on the aspects that make it easy for people to use what you're offering.
One example might be fill-in-the-blanks templates. People will pay more for things that they feel are almost a plug-and-play system, where all they've got to do is they fill in the blanks in order to get their results.
Offer payment plans.
This is another helpful tip when establishing your pricing. You can offer payment plans through PayPal or a tool like 1ShoppingCart. People have the option to pay in installments over a set number of months. This can massively increase your sales, because users don't feel that they're making a big payment at one time.
As you think about pricing your product, always remember to set the price according to the value it will deliver. Follow this plan and you won't go wrong.
Bernadette Doyle is a small business marketing expert. Get more tips and advice at http://www.clientmagnets.comTweet
There is one business skill, above all others, that will offer you the ultimate financial security in an unsecure world. Whether you want more time with your family, or to travel around the world or make a contribution to an organization that's dear to your heart, truly mastering this skill is what will make all of your dreams, desires and goals absolutely possible.
You might guess that the key is to learn the different strategies and techniques that you can use to attract more clients to increase your income. And, while this is true, it really goes much deeper than that. It is the ability to attract the types of clients you want, paying the fees you want, whenever you want – that is the truly amazing skill.
Here are 7 tips to help you work towards achieving that skill …
• Figure out what your market really wants. Visibility alone will not bring you all the clients you want. Just getting the word out about your offering isn't enough. People buy according to what they want, not what you think they need. There's a big difference. For example, no one needs a cigarette; they buy them because they want them. No one really needs a huge flat screen 40" TV, but people buy them because they want them. You won't increase your clients if your offering doesn't match up with what the market wants. So you've got to get good at figuring out what your market really wants.
• Focus on the people who have raised their hands. Instead of trying to sell to everybody, center your attention on those people who have already expressed an interest in what you're offering. Then develop a method of converting those raised hands into paying business.
• Focus on quality, not quantity. Let's say you want to make a million dollars. Would you rather have 100,000 people paying you $10 each? Or would you rather have 10 people paying you $100,000 each? The quality of your offering allows you to charge a premium rate, but service fewer, better clients, to make the same money. In any market, at anytime, there is always a percentage of buyers who are willing and able to pay a premium amount for the solutions you can provide.
• Follow the steps. Getting new clients is a combination of a sequence of steps that work together to get the end result. If you skip or break any one of the steps, the whole thing falls apart. It's so important that you do all the right steps in the right order to get the results. I share those exact steps that worked for me 14 years ago, and the same steps that I've used in the past few years to reinvent my business over and over again.
• Make it easy for clients to say yes. Make the intangibles of your business tangible by explaining what it is that you do and how clients stand to benefit from that. Show them how all the risk is taken away and think about ways to make your offer irresistible
• Think and act like a winner. Even if you're in transition, focus on where you're heading, not where you're starting from. Surround yourself with other winners who will motivate and inspire you by joining a mastermind or getting a mentor.
• Systematize the process so that it is not totally dependent upon you. Create systems so that people can automatically express interest and opt in, even if you aren't working or interacting with them at the moment. This was the critical factor in me breaking through the million dollar barrier last year. Save Yourself Time, Energy & Money by focusing on your area of expertise. Put technology and other people in charge of the other details that only distract you and bog you down.
Bernadette Doyle is a marketing specialist who helps entrepreneurs become client magnets and attract a steady stream of their ideal clients. If you’d like to receive invaluable tips and advice on how to attract clients with ease, register at http://www.clientmagnets.comTweet