Provide Undeniable ImprovementFebruary 27, 2011
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If you demonstrate that working with you will benefit your customer beyond a shadow of a doubt in ways that he or she treasures, they will eagerly pay you more than the competition. Here are two ways to do this:
A. Link your results to their bottom line.
When you can say that your services will result in a savings of $200,000 per year, and that savings can be annualized (ie, $200k per year, year after year), then you move to a new level. Suddenly the consulting projects you were being paid $20-30,000 for become easily worth $40-80,000 in the mind of the customer. All because you can demonstrate the Return on Investment (ROI).
B. Provide Third Party Testimonials.
When you say you are good, there is clearly a bias. When someone else endorses you, you move one giant step closer to unbiased acceptance of the value you provide. Your work may not lend itself to quantifying the result in dollars. But, if you are consistently, systematically improving the situation of the people you serve, get it in writing.
I ask for a letter of reference and referrals when my clients are happiest, i.e., when they are thanking me. That’s when I inquire, “Do you know someone else who would like to have what you have now?” After they answer that question, I ask, “Would you write out the results we achieved in a short note on letterhead? It goes a long way toward helping me in my efforts to let people know what I do.”