The Agency Accelerator REWIND: 5 Easy Strategies to Implement Value Pricing & Selling in Your Agency
Everyone talks about the concepts of value-pricing and value-selling and it sounds really good in theory. But in reality, a lot of agencies don't know how to apply it or are too scared to start taking a value pricing approach. So they go back to their tried and tested ways of pricing on fixed project fees or selling on time. So in today’s podcast I want to give you five tips and strategies that you can begin using right away to start moving towards a value-based pricing and a value-based selling approach.
Time Stamp
[01:56] Today’s episode is sponsored by my free masterclass: “3 ways to raise your agency's prices and profits without losing clients”. I'm running this workshop 4 times this month (if you're listening live) or you'll be able to watch a replay. So check out the link below and invest 60 minutes of your time to learn some practical strategies that you can start implementing straight away.
[02:21] A story of toothache to explain value-pricing
[03:23] A definition of value based selling
[03:44] An example of quoting for a web design project
[04:18] 5 strategies to move towards a value-based pricing and selling approach that will enable you to charge higher fees and create strong relationships with your clients
[04:39] Strategy 1: From the first conversation you have with a prospect focus on the outcomes they are looking for and how they tie back to their business goals
[06:35] Strategy 2: Make sure you understand how the wider business will assess the success of your campaign not just the marketing resource that you might be dealing with.
[07:07] Strategy 3: When you agree to write a proposal make sure you’re constantly referencing the outcomes that the client is seeking from your work.
[07:28] Strategy 4: Price on the outcomes. This doesn’t mean you’re making any kind of guarantees or offering ‘payment by results’, it just means that you are getting everyone’s mind focused on the transformation the client is looking for from being in pain to not being in pain.
[08:11] Strategy 5: Don’t discount! If they want a lower fee and discuss which aspects of the project they don’t want to include!
[08:44] Pricing is 50% mindset and 50% application
Quotations
“Getting your pricing right is 50% mindset and 50% application.” - Rob Da Costa
“Brave agencies will spend 90% of their time in a prospect meeting in fact-find mode and 10% presenting their agency.” - Rob Da Costa
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Useful links mentioned in this episode: