Last week, we reviewed the concept of a leaky marketing bucket and how, with just a few tweaks, you could plug some of those leaks and actually retain more prospects.
Specifically, we addressed how you have to stay TOP OF MIND with your prospects otherwise they forget about you. I call that consistent outreach and it is one part of a 3-step client attraction formula.
Welcome to part two in a 3-part series about tweaking your marketing and plugging those leaks!! In this series, you’ll learn some simple changes that you can make to your existing marketing that will allow your prospects to actually hear your marketing message and then hire you!
Today, let’s talk about the 2nd element of your 3-step Client Attraction Formula – your compelling offer (or that thing that you sell – whether it’s a program, product or service).
This is about how your offer is named, priced, and packaged to position you as THE Expert so that prospects chose you!
When your offer is confusing and underpriced, it is so difficult to create a sustainably profitable business! You just end up working so hard for very little financial reward!
The top 3 common marketing leaks with respect to your compelling offer (program, product or service):
1. Especially in the health field, it’s common for experts to try to sell their modality, process or one of their tools, i.e. might introduce themselves as an EFT expert, massage therapist, Reiki Master, Energy worker). Those are tools to solve a problem – the question is – which problem do they solve?
An example was a prospect who came to me saying that she was an Energy Worker – sorry but I didn’t know what problem she solved. People won’t pay for ‘energy’ work.
However, after working with me, we realized that for the large majority of her clients she ‘alleviated their chronic pain’. Now I know the problem.
She recently attended a networking event and by using just those 3 words (alleviate chronic pain) she got 4 solid leads!
Are you selling a clear solution to a problem?
2. As entrepreneurs we are a creative bunch. And often, if we don’t see amazing financial results from trying to sell one program or product, we create MORE programs or products. Wrong! By offering too many programs, products or services our prospects can’t see that we are an EXPERT at solving one particular problem. It becomes too confusing.
An example was my friend with a cleaning service. A look at his website showed that he offered about 15 different services! But what was he an EXPERT at and what distinguished him from all the other cleaning services?
After working with me, we discovered two things. The first was that he offered a ‘green’ cleaning product – one that you could actually drink!!! And secondly, that his most profitable service was commercial cleaning. Combining those 2 things together, we created a Profitable Marketing Roadmap that positioned his company as THE experts in green commercial cleaning! Again, easy to remember, and refer!
What’s the one program, product or service that you are positioned as the EXPERT?
Do you have a signature program? Compelling Offer?
3. The last common marketing leak is about pricing!! This is one of those topics that I could talk for days but I’ll try to keep it short. STOP pricing by the hour and price by the ‘value’ of your program, product or service.
Here’s an example of what I mean. A friend of mine helps smokers quit smoking for good in only 3 sessions. She charges less than $400 – that’s what I call a steal. She is under-valuing her work. WHY?
We calculated that if a person smokes a pack of cigarettes a day for a year that amounts to almost $10,000 in direct costs. So, by stopping smoking she would save them at least $10,000 in ONE YEAR and that doesn’t include the additional health benefits!!!
There is a big gap between $10,000 and $400. Could she charge more? Of course – but she is convinced that since she only spends 3 hours with them that her fee is adequate.
I’m sure that clients would be willing to pay much more, based on the value of what they are getting, if her marketing positioned those benefits!
I could give you example after example with respect to this common mistake. I’ve helped so many clients increase their fees and create signature programs that help them get off the cash flow roller coaster!
A recent example of that is an Ottawa health coach who always found herself scrambling for new customers. While working with me, she created a Signature Program and started positioning herself as the solution to people’s problems (in this case, mental health issues of anxiety and stress). Once she started focusing on selling her program, she was jumping up & down with excitement because she now has a much more consistent income without always scrambling for new clients who pay by the hour.
Do you have a signature program, product or service?
Are you still charging by the hour?
Now it’s time to diagnose your business. Using the idea of a TRAFFIC LIGHT – how would you rate your COMPELLING OFFER?
RED – you might be charging by the hour or have multiple offers or perhaps you are trying to sell your modality, process or tool? You are unsure of how to price for profit.
GREEN – you easily convert prospects into clients during your sales conversations and people come to you for your specific expertise. You are positioned in the market for THE ONE THING.
YELLOW – you are somewhere in between.
Thank you for reading all the way to the bottom of this blog and hopefully you’ve paused along the way to diagnose your marketing and this portion of a 3-step client attraction formula.
Stay tuned next week for last and probably most important element of your 3-step client attraction formula!!
PS. Ready to finally plug your leaks & learn HOW TO TALK ABOUT YOUR BUSINESS SO THAT PROSPECTS LISTEN AND HIRE YOU. Early bird special for the Ottawa event, until Feb 21, $197!!! More info here: https://www.facebook.com/events/539859946735792/
If you missed Part 1 of this series, check it out here.