You know the work you’re doing is high quality and deserves a premium price. But the client doesn’t know that. They probably don’t know anything about your work.
The problem is, if clients don’t see the value in what you do for them, they’re always going to think your prices are too high.
Their perception of value is key to ensuring they’re willing to pay a high price.
It’s all to do with price psychology
And communication. Words are so important.
If someone thinks something is of high value, they‘ll expect the price to be high. The two go hand in hand.
So, how do you get them to understand what you do, why you do it, and how that benefits them? How do you get them to appreciate and value you?
You need to tell them. You need to communicate your value to them. It’s all about managing clients.
There are certain processes you can follow to build up the value of what you do so that the client’s perception of your service is high quality.
Here are 3 things you should be doing:
#1 - What is the client’s pain?
What pain is the client currently facing? What challenges or problems are preventing them from running their business efficiently or getting a high profit?
What problems might they face in the future if they don’t take action?
Research has shown that as human beings we’re more motivated by the avoidance of pain than we are by the attainment of gain.
The better you are at explaining the current and potential pain to the client, the more likely they are to find value in the solution you present to them. If they fully understand the extent of the pain and the consequences that could be about to hit them, your solution is going to seem so much more appealing to them.
#2 - Quantification
Put a number on that pain.
Will they get penalties for non-compliance? How much could these penalties cost them if they don’t take action? What could they potentially add up to?
You may highlight how much time the client is currently spending doing all the bookkeeping, payroll or tax work themselves. Your solution is going to free up their precious time. Tell them how much time it will give them back.
When you quantify with numbers, it becomes more real. The more real and tangible the pain seems, the more value they’ll see in your solution.
Sometimes these numbers will be guesses or estimations - that’s fine. A best guess is much better than not giving a number at all.
#3 - Focus on the end result
What will the client’s life look like after they’ve hired you to do the work?
If you take on their bookkeeping and it frees up the client’s time, how is that going to affect them? Perhaps they’ve been working on Saturdays to keep up with their books and they’re missing out on time with their family.
Explain the benefits that the client will see once they hire you. That client will be able to spend time with their family again, they won’t be as stressed, and they won’t be as tired.
The more we focus on the outcomes and end results, the more value the client will see.
It’s all about benefit
All the client cares about is how the work is going to benefit them. They don’t really care about what you have to do to reach that point, they’re simply interested in the results.
Focus on that. Tell them what you’re doing, but really focus on what that means for them, and how it will benefit them. That’s what will create the perception of value.
Watch profit improvement expert Mark Wickersham explain how to get clients to value what you do.
For more information on how QuickBooks can support you moving your clients online please visit.
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