You know the phrase you get what you pay for. While you should always make sure that you are charging enough for your services to be properly compensated and rewarded, doing so doesn’t necessarily mean that your clients are going to be happy to pay what you’re asking. When trying to sell your services at high prices that clients are happy to pay, you have to approach the situation from a very specific angle. You not only have to prove that your services are worth paying for, but you also have to sell the fact that you’re providing a service for a very specific amount of money that the client isn’t going to be able to get anyplace else. You also have to make sure that they’re happy in general.
Really Know the Value of Your End Product
Before you set a price for your services, you need to consider the work that you’re doing to create the end product the client is receiving and the value associated with it. Use similar companies and the way that they price as a guide for pricing. Make sure that any prices that you set reflect the true monetary value of what you perceive those services to be. Always see that you’re compensated for both your time and your effort in addition to the work itself. Never charge below what you see as your own personal value just to attract new clients, as doing so is a sure-fire way to start attracting clients that you don’t actually enjoy conducting business with. Lowest price should not be your main selling point.
One of the absolute best ways to sell your services at high prices that clients are actually happy to pay is just to make sure that you’re always doing the best possible work. (Duh). If the quality of your work is average or middle of the road, you will likely start to encounter issues with clients suggesting that you might be overpriced. However, if you are inarguably servicing the client’s needs and are providing an excellent quality of work that they won’t be able to find anywhere else, you’ll find yourself in a situation where clients are more than happy to pay whatever you’re asking for.
Know What the Others are Selling
When making sure that you’re doing your best work, you also need to consider what the competition is doing. One aspect of doing business involves always keeping a close eye on what others are doing in your industry. If you’re producing work that is of an identical quality to another company but that company is cheaper, they will likely be attracting more business than you are. So find your niche, maybe go after the higher quality clientele who may not need or want the fastest, cheapest work. While you should always be charging the most you can for the work you’re doing, you may have to adjust your prices to stay competitive in a crowded marketplace. However, if you’re completely eclipsing the quality of work that is being done by the competition, you deserve to be collecting more revenue for it.
Have Emotional Appeal
People will happily pay more to work with someone they like. So strive for quality interactions with them every chance you get. If a client calls, don’t drag your feet on calling them back. Whatever they want to discuss could be a very minor issue easily clarified in a couple minutes' time. Proactively, make the client feel included in all decisions. Go above and beyond to set that client’s mind at ease. If you are effectively communicating with a client and are showing them that they matter just as much as the work does, you’ll go a long way toward creating an experience where they are more than happy to pay what you’re charging them. This should also help you snag more referrals, woo hoo!
About the Author: Bob Wolff is an accountant-turned-Channel Manager at BQE who helps to offer consulting and software solutions for BQE customers. He likes to share his business expertise here on the blog whenever he can.