In this conversation, Beth Trejo from Chatterkick shares her insights on pricing strategies for marketing services. She discusses the importance of flexible tiered pricing models to cater to diverse client needs. Beth dives into the challenges of pricing amidst economic fluctuations and emphasizes understanding service value. She also highlights the crucial role of effective team communication for better client engagement and shares how AI tools can enhance customer experiences in marketing. It's a treasure trove of actionable advice for agencies!
Beth Trejo highlights the importance of transitioning from project-based to ongoing pricing models to ensure consistent service and client satisfaction.
Effective communication of price changes should involve transparency and contextual insights into the value provided, fostering client trust and informed decision-making.
Deep dives
Beth Trejo's Journey in Marketing
Beth Trejo, founder of Chatterkick, began her journey to establish a marketing agency after observing the potential for businesses to transfer real-life relationship building into the digital space. Her experience working at a Chamber of Commerce highlighted the importance of maintaining human connections in the online world. Over the past 11 years, Beth has seen significant changes in social media and marketing trends and emphasizes the necessity of adapting to these changes continually. Her passion for facilitating this transition while keeping authentic relationships at the forefront remains a driving force in her work.
The Evolution of Pricing Strategies
Pricing has been a central theme in Beth's journey with Chatterkick, as she initially struggled with how to structure it effectively. She realized that an ongoing pricing model was essential for providing consistent service and meeting client needs, moving away from a project-based pricing structure that hindered growth. By focusing on solving problems like consistency in social media engagement, Beth developed a monthly service model that benefitted both clients and her team. This pricing shift laid the groundwork for a successful agency that addresses the complexities of social media marketing.
Effective Client Communication About Pricing
When communicating changes in pricing to clients, Beth emphasizes the need for transparency and context around the value of services provided. Instead of imposing flat rate price increases, she recommends evolving the scope of services and presenting clients with options that outline the value they receive at various price points. By offering comparative insights into industry standards and highlighting the costs of not engaging with their services, clients can better perceive the value of their investment. This approach fosters trust and positivity, allowing clients to feel as if they are making informed choices.
The Importance of Continuous Value Assessments
Beth underscores the critical importance of continually assessing the value proposition of services offered by her agency, noting the changing landscape of client needs and market expectations. She gathers client feedback through various channels, including interviews and satisfaction scores, to gain insights into their perspectives. This feedback helps identify opportunities for improvement and ensures that the agency remains aligned with clients' expectations and challenges. By proactively responding to feedback and addressing client needs, Beth maintains a strong competitive edge in the rapidly evolving marketing space.
Struggling to put a price on your agency’s marketing services? Wondering whether to charge based on value or time spent? To discover how to price marketing services, Brooke Sellas interviews Beth Trejo of Chatterkick.