To Turn More Prospects Into Paying Clients, You Must Give Them Options
As a budding solo-entrepreneur, I offered only one rate: "This is what I charge; take it or leave it." So, people would either take it OR leave it. Thing is, most people like options. The minute I realized that, I signed clients up in droves! (You can too.)
Copyright (c) 2008 Fabienne Fredrickson
When I was first starting out trying to close the sale as a brand new solo-entrepreneur, I would offer prospects only one rate and the offer was basically "this is what I charge, take it or leave it." So people would either take it or leave it. After disappointing sales conversions, I thought that perhaps I was leaving business on the table. At first, I thought it was my sales "technique" that was somehow "off".
Then I realized that clients work in a different way. When faced with a purchasing decision, especially when it comes to buying services, many people like to have options to choose from (I know I do too). They don't want to be "forced" into taking something that doesn't suit them. They would much prefer to have the option to choose between small, medium or large.
There's also some psychology to it. Some people naturally go for the biggest, fastest, "supersized" option, just because that's their personality. These people are often the ones who go for the bigger car, the most luxurious spa treatment, or the most expensive thing on the menu. It's like a bagde of honor for them and they are disappointed when that BIG option isn't there. Others are more cautious and like to take their time doing things. Sometimes, it's simply a question of money and what they can afford.
I started making available an option for each of these types of people (and budgets). The result? I started signing on considerably more clients offering options than when I used just one rate.
Why? Probably a few reasons:
1. There were options to fit different budget levels and it took care of the "am I charging too little or too much?" syndrome.
2. The client probably felt more in control and part of the decision-making process, which is less threatening.
3. It gave me confidence that my rates, as a whole, were just right for my ideal clients.
Consider charging different rates for different programs. Create different price points in your offerings. Use the provided one for inspiration, but create different options that work for you.
Let there be an incentive to go for the higher option (more time with you or reduced cost per hour as frequency grows). Make it almost irresistible to go for the highest option, but recognize that some people may just not be able to afford it or may choose not to go that route. That's OK.
Name your different options so that you can refer to them without actually using the dollar amounts. I've used the terms "Fast Track," "Basic" and "Maintenance" programs for my different options. What could you call yours?
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ABOUT THE AUTHOR
Fabienne Fredrickson, The Client Attraction Mentor, is founder of the Client Attraction System and http://www.ClientAttraction.com , the proven step-by-step program to attract more clients, make more m'oney being self-employed, while having more time off to enjoy it all. To receive your F.R.E.E. Audio CD by mail and get weekly how-to articles on attracting more clients, visit http://www.ClientAttraction.com .