"Hey, why isn't this invoice higher? You really saved my business a ton of money." If you're lucky enough to have heard this from one of your clients, would you like to have more of them?
Attracting clients who are happy to pay handsomely for your services and are hassle-free to deal with doesn't have to be a mystery. It just requires a consistent effort on your part to be on the look-out for these types of customers.
Here are 7 ways that your professional services firm can attract more high-quality and hassle-free clients.
Identify Your Top 20%
This comes from the reliable 80/20 rule - 80% of your revenue comes from 20% of your client base. Find out who your major clients are, then write down a list of what makes them stand out from the bottom 80% of your clients. Use this list of your best clients' top traits as a handy checklist when deciding if a prospective client is a good fit for your business.
Random Acts of Kindness
Take your clients out to lunch once a year, randomly email them helpful advice, or send two tickets to a concert or sporting event with a short thank you note. These are just three examples of how you can go above-and-beyond with customer service to let your top clients know they're appreciated. Investing your time, money and attention in these types of activities will yield clients who appreciate this level of care and responsiveness and are willing to pay substantially for them.
Develop a Niche
Business owners want to do business with people they know, like and trust. Developing an expertise in one specific industry demonstrates that you understand the problems that business owners in that industry are going through. These owners are more than willing to pay large sums of money for you to help them solve their pain points.
Become a Thought Leader
One of the best ways to develop industry expertise is by becoming a thought leader. Think of yourself as a newspaper reporter that writes articles for trade magazines or gives speeches at industry conferences. The goal is to get your name in front of as many people as possible in your particular industry. You'll soon be seen as an industry expert!
Develop trust with prospective clients by listening, not selling. Ask questions about how they started their business, what challenges they face and what opportunities they foresee in the near future. Then sit back and listen attentively to their answers. Developing trust will open doors to a business relationship where your client will rarely question the advice - and invoices - they receive from you.
What's the best way to attract high-quality clients? By referrals from other high-quality clients. Give the red carpet treatment to the top 20% of your clients and referrals to other A-list clients shouldn't be too far behind.
Communicate Your Value
Have you ever said, "I just saved your business $50,000. What do you think would be a fair fee?" Working with A-list clients mean knowing the value you provide to their business and not being afraid to ask for a reasonable fee based on that value. You'll never get paid like a rock star professional services provider unless you ask your clients to pay you like one.
BQE Software offers intelligent project management and billing solutions for professional services industry that are designed to help increase performance and productivity through streamlined processes and integration.