Attracting the Right Clients for Your Business
When it comes to entrepreneurship, there are two types of clients – the right clients and the wrong clients. When you have the right clients the world seems wonderful, work seems exciting, and you don’t dread checking your email. But, if you have the wrong clients, you suddenly start checking the “Want Ads” for jobs. Since you don’t want to do that, and you obviously want to keep working as a entrepreneur, the answer is to only work with the right clients. But, how can you be sure that you’re attracting the right clients? Hint: It’s not about luck.
Define Your Ideal Client
Write down what your ideal client looks like. What motives them? What keeps them up at night? Are they results-focused or money-focused? All of these questions can help you determine the type of client you want to attract. As an entrepreneur, you should focus on clients who have a specific need, who care more about results than price, and who are willing to hand over the work to you and focus only on deliverables – i.e. no micromanagers.
Focus on Value
Instead of trying to compete on price, compete on value. Price your value instead of trying to match your competition or other businesses who want to compete on price. Remember that your prices set an expectation in the minds of your audience. The higher the price, the more perceived value they have for your services. If your prices are too low, potential clients might question the value or your experience level. Be confident. You’ll attract clients who are successful instead of struggling, which will give you a much better group of clients to work with.
Know Your Worth
When you get to the negotiation phase, don’t be tempted to lower your prices. If you do consider lowering prices, consider removing services. Clients can pay less, however they will receive less of your premium services for the lower price. Remember, you’re not selling a commodity, you’re selling a specialized skill that took you a lot of time, money and training to be able to offer it professionally. Do not under value yourself. No matter what your competitors charge, you should stick to the value you set at the beginning. Lowering your prices only sets you up for disappointment. Let your clients know that you offer a quality product or service that’s worth the price.
Set Up a Client Screening Process
Your potential clients need to go through a process that qualifies them before you ever speak to them on a call. Set up a client questionnaire that will not only help determine what type of client they are, but also help them clarify what they want from you. Clients who know what they want are a lot easier to work with than clients who have no idea what they want. Plus, if they are willing to go through the questionnaire, that is a good sign they’re going to be willing to use your processes and your systems.
Determine Your Potential Client’s Motivation
Most business owners literally guess about their clients’ motivations and are often wrong. When you can figure out what truly motivates your clients, you’ll be able to improve your client screening process. The truth is, the only real way to qualify a client is to know what gets them excited.
When you develop your client screening form, simply ask what motivates your potential clients. Give them the choices of: Speed, Value, Price, Results or another factor that is relevant to your business. You can have them choose one option or rank them in terms of importance. This does a few things. If they fill out the form, you know they’re serious. If they answer price and speed as most important, you can move them to a new list that educates them on value and results over price, or choose not to proceed.
Operate in Excellence
You’ve likely heard the phrase, “under promise and over deliver”. It’s excellent advice and something you should focus on doing. The more you can do that, the more your clients will perceive your work as top-notch and excellent – no matter the price. Each month you work with your client, always figure out a way to do a little something extra that you didn’t list in your services just to provide that wow factor, and display excellent customer service.
Focus on Results
The more value you can provide, the better. What your clients really want is results. If you can prove the results, your clients will be screaming for more at any price. Determine a way to prove the results of your work, and then show that information to your clients.
When you’ve received objections from clients that you know would be a good fit, you want to address those objections immediately. For example, if a potential client went through your entire process but still is on the fence due to the cost, you may be able to provide more social proof of the benefits of working with you. You can direct them to take a look at your testimonials, references, and examples of the results of your work.