Sometimes we use discounts to try and win new clients – this is a terrible idea.
We allow ourselves to lower our prices by telling ourselves that we will make up for it in the future - that we will raise the prices next year and start making a profit.
Then we never do it.
The first price you give creates an expectation with the client. If you start off cheap, they are always going to expect you to be cheap, and you’ll find it much harder to raise your prices once this expectation has been created.
The Golden Rule: Never Discount
You should not give out discounts to win clients.
Maintain the integrity of your pricing structure. Be confident about the value you deliver to your clients. Do not discount.
The most successful businesses don’t give discounts. Think about it – when was the last time Apple ran a sale? When was the last time Starbucks lowered their prices? When was the last time you walked past a Ferrari...
Do you ever go out to meet a new potential client and during the meeting you start to realise they are just a tyre-kicker, they just want the cheapest - those clients are a pain. My American students call them PITA clients (see if you can work out what that stands for).
When I started my accounting firm back in 1996, probably around half the meetings I went to were a waste of my time.
Our time is precious. Not Every Client Is a Good Client. So, how do we deal with these time wasters?
I’m going to share with you 3 strategies for avoiding tyre-kickers and PITA clients… (if you want to know a 4th, you can read this blog too: How To Pre-Qualify Clients And Avoid Time Wasters)
#1 - Positioning
Think about your website. Think about the wording on your website.
What is the message? Have you made it clear who your ideal client is? Or, like most accounting professionals, does the message say that you are available to everyone and...
Do you want to win more business?
Of course you do, everyone wants more clients.
Well, one of the most powerful ways of doing that is to run events.
Why Should You Run Events?
The minute you stand in front of an audience, on a stage, straight away you are seen as being an expert.
When you are seen as being the expert, more people want to work with you.
You start to expose your message to people. You start to be seen as a thought leader. Just the act of speaking will help to encourage people to want to work with you.
But What If You Don’t Like Speaking?
Speaking in front of large crowds can be uncomfortable.
I’m an accountant. I’m an introvert. I’m not a natural speaker.
The first time I did a speaking gig, back in 1998, I was absolutely petrified.
But I found over the years that the more I did it the easier it became. This is true of anything in life, the more you do something, the better you become at it and...
When I ask my students what their marketing strategy is, very often they tell they they haven’t got one.
I understand them really because when I started my accounting practice in 1996, I didn’t have a marketing strategy either.
Very often we don’t have a marketing strategy because it seems like something that is really complicated and time consuming. After all, loads of people these days are getting marketing degrees and qualifications.
But sometimes people overcomplicate marketing.
I like to keep it simple.
Really, to create a great marketing strategy, there are only 3 things you need to do.
1 - Ideal Client Profile
Who is your ideal client?
You need to know who that is - in writing.
Look at your best clients. What characteristics do they have? What sort of clients do you like working with. What size business? What kind of turnover? What industry? Where are they located? What are their personalities like?
You need to...
If a prospect is contacting you only because they want some information, and you have valuable content that positions you as an expert, why wouldn’t you share that with people?
This is a great chance for you to demonstrate your expertise and show your value.
However, if a prospect is calling because they want to know your price, that is a different issue.
If someone is simply asking for a price, it is a red-flag. This person is likely to be focused solely on the price of the service - they are a price shopper and only want the cheapest service.
These types of people never appreciate the value you can provide and will always be problematic when the time comes to pay the bill. They are not worth your time.
You don’t have to take on every single client that contacts you. You should only take on the clients that are right for your business.
So What Should You Say To Those Callers?
You should absolutely have a meeting with...