Walk into any networking function and listen to how people introduce themselves.
They’ll identify with their profession.
“I’m an accountant”. Or Lawyer, business coach, marketing consultant, trainer, HR consultant… the list goes on.
Your eyes glaze over. You smile politely and move on.
Why? Because every one of these service professions have become commodities. There’s nothing to distinguish one accountant from another. Bit like buying soap.
Maybe I’m being a little uncharitable, but you get my drift.
So what should they do instead?
Think in terms of WIIFM or What’s In It For Me? Or more to the point, what’s in it for the person you’re in front of.
No one cares about what you do. They only care about what they get.
So talk in terms of outcomes not process.
For example we taught our accountant who specialises in property tax to say, “I help my clients structure their property investments to minimise their tax, maximise their returns while protecting their assets and keeping the ATO happy!”
Another client who’s passionate about improving the education system works with senior leadership teams in high schools who want to improve student learning outcomes.
Rather than talk about a coaching/feedback process his message is now outcome based:
“I work with school senior leadership teams to develop resilient, collaborative and creative young adults who can think and act for themselves and be meaningful contributors to society.”
A property investment consultancy client now says. “You make the money on the way in by buying low and selling high. We find you properties at significantly below market value so your returns are almost immediate.”
Notice that nowhere do they talk about process or how they deliver.
What they’ve all done is escape the commodity trap by packaging up their solutions.
They’ve gone from trading hours for dollars to a fixed fee solution which they can sell at considerably higher dollar values.
For example, our accountant now sells three package levels catering for investors just beginning, with 2 to 3 properties and people at the high end who want to fast track.
The leadership coach went from selling a 1 year coaching program to locking clients in for 3 years at triple the price.
The property investment people took our advice and packaged up their service raising their prices by a staggering 183% without losing any clients.
Here are some specific benefits of packaging up your solutions and giving them a name.
- Prospects can no longer make an “apples to apples” comparison. Instead of working on an hourly basis where people often have a preconceived perception of what they should pay, you’re offering a defined result.
- Creating a program makes it appear tangible. It is easier for the client to buy a defined product and for you to sell it.
- You’re not penalised for working more efficiently. They’re not paying you by the hour. Your job is to get them the outcome they want. If you can do it more efficiently you make more profit.
- You can offer more high end programs for which you can charge premium prices.
- And finally, selling is far easier as you can accurately define exactly what goes into your program, write a comprehensive sales letter that explains all the benefits and outcomes your clients will receive.
Yes, creating programs might seem like a lot of effort, but trust me you will reap the benefits which include:
- You know exactly what you’ll be delivering so you know what it’s going to cost you while avoiding scope creep.
- A timeframe is defined so everyone is clear on what will be delivered by when.
- You’ll have a structure which defines the steps involved and how you will deliver.
- Both parties will understand what the rules of engagement will be. What you will do. What you expect from your client.
- Clarity in your own and your client’s heads. Your clients will know what outcomes to expect which removes ambiguity with respect to deliverables.
Ultimately, packaging up your services into defined programs will help you sell more, more easily and at a higher price than you thought possible. Which means far more revenue and profit – potentially for less time involvement on your part.
Need help in moving from a time for money mindset to creating and delivering programs? Call us on (02) 9499-7958 and join our program which will help you do exactly that.
