Biggest mistake

Stuart Trier Convert, Marketing Strategy, Prospecting, Sales Techniques Leave a Comment

Speaker 1: Hey, guys, in this video, I want to talk to you about the biggest mistake most marketers make when prospects ask them how much money they charge per month. So very often, marketers are going to respond with a dollar amount, and that is the exact worst thing to do. Then they try to justify their fees by talking about tactics and tasks they’re going to achieve for that client.

But the client actually doesn’t care about tasks and tactics. They want to know how you’re going to meet their business objectives. So when they ask you how much you’re going to charge per month for your service, that is the perfect opportunity. It cues up you to go into the mode where you’re able to differentiate yourself. You’re able to educate that prospect on your service and, ultimately, position yourself as an authority, somebody who understands their market, their business, and more importantly, a go-to source for your service in the market.

So how do you do this? You move the conversation away from what you charge per month to a conversation about questions. You start by uncovering what a client is worth to that particular business owner. You want to understand how much money that client spends with that business on a monthly basis, on a yearly basis. What is the frequency of purchase?

You also want to uncover how much profit is generated from each client because this is going to allow you to see how much they can spend to acquire another customer. And what ends up happening in this discussion is you move from that generic marketer who’s selling some tactic, be it SEO, PPC, Facebook ads, content, whatever you sell to somebody that understands their business, understands their objectives, and you’re able to frame your service within the constraints of what they’re trying to achieve, right?

Ultimately as marketers, what we’re trying to do is we are trying to deliver customers below that average cost for what they are allowed to spend to get a new client in, right? If we’re bringing in clients, and they are making money, the question of how much is our service becomes irrelevant because it all comes back to you.

If we’re able to deliver a client to the customer for $100 for a paying client, and that client generates $1,000 in revenue and $600 in profit, the question of how much we charge becomes something that doesn’t really make sense within the context of marketing. Ultimately, they should be willing to spend as much money as they have on the growth of their business.

And when you start that conversation from looking at the value that you can drive for that business, that conversation and their perspective or the way they look at you ultimately changes, and you’re no longer viewed in that commodity framework.

You’re somebody who can deliver them a result, and that’s really what we want to own. We want to own that position in that prospect’s mind that we are the authority. We understand their business. We understand their objectives, and whatever form of marketing we are delivering is going to be able to help them hit those objectives.

Well, I hope you got something from this video. If you did, smash that thumbs up like button for me. If you have questions or comments, just drop them below. I’m happy to engage with you here on the channel, and I’ll see you in the next video.

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