The Maverick Entrepreneur™ Series
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“Attracting More Clients Series”
Article 5 of 5
Things NOT to do when attracting high-quality clients
By Bob “MAVERICK” Stanford – “The Maverick Entrepreneur”™
There are several common mistakes I see even the most experienced service providers make when they’re trying to attract more high-quality clients.
Hopefully, today’s article will help you avoid them. It can mean the difference between success and failure when developing a new business marketing campaign.
Your goal is to develop a steady stream of new buyers and motivating clients to eagerly refer you to their friends and associates.
Major Rookie Mistakes:
– Not charging enough
Many service providers worry about competitive pricing and end up offering their services for far less than their competitors. The trouble with this is you can get locked into that low-price approach which makes it difficult for you to raise your fees in the future. Or work too hard for insufficient remuneration.
In fact, pricing too low can have a negative effect on your business. Remember that old saying “you get what you pay for?” People in search of a reliable service provider may automatically dismiss your business as unreliable or poor quality when your prices are too low.
Worse yet you’ll only attract bargain-hunters, rather than the quality clients who can afford to pay you. It’s a much better strategy to price higher and run sales, offer coupons, or discounts.
This can motivate customers to buy feeling they are getting a bargain! I normally suggest NOT setting “Time constraints, or deadline” on product sales, unless you can end them on say the 2nd or 16th of the month, just after people are getting paid.
Don’t wait too long or they will be out of funds again
I’ve learned you can lose many buyers because they just couldn’t afford your product before the ending timed deadline. If you do offer one, consider making it a specific date after around the 2nd or 3rd of the month.
Others get paid twice a month. Many potential customers only get paid once a month, and even if willing to buy, must wait until they get paid again.
I’m aware that contemporary thinking regarding this is to run a sale to get them to “Buy Now,” The consensus is that if they don’t buy now, you will lose them forever. This is a trial and error approach, that must be determined through knowing your buying audience, and experience.
I’ve experienced losing sales because people may not want to buy after your deadline date if your prices have increased too much. Sale prices are necessary for modern ecommerce markets, but deadlines can be a plus or negative.
Keep in mind that value and price are not the same
Your value will be in how well you complete the tasks and meet the deadlines required by your clients. As well as how reliable and easy to work with you are. It can also be determined by your experience and expertise.
– Giving away too much
Your goal is to motivate potential customers to buy from you. They are looking for service providers and vendors who deliver results. Time spent wisely along with quality services and products can be money in your pocket. Many service providers give away far too much in terms of free samples and time.
Samples can be a powerful buying inducement
Over-delivering too much can backfire. It can confuse your potential buyers, and even cheapen your offering since it may give the impression your product in itself isn’t worth the price you are asking. And to many bonuses can confuse the buyer, drawing attention away from the primary products and services.
Creating a portfolio is a great way to show examples of your work without giving away too much.
– Be clear about what you offer
In our first article in this series, we made a list of things you might offer clients. You’re focusing on a niche, and your product is designed to offer a primary solution they need.
Your bonuses should be related to the same solution, not a bunch of unrelated items to confuse them making them forget why they are reading your sales materials.
Decide how closely related they are to each other. This way you can create service bundles and up sales maintaining your current sales theme, but presenting more comprehensive products and services.
For example, if you’re a virtual assistant you could offer a monthly package that includes customer service, email marketing, uploading content to a blog, etc., not a new survival flashlight or something detracting from your main product message.
The idea here is to increase the value of your offerings with a more comprehensive package at an increased price. You likely see this often, like a service offering a one year price, and another lifetime price for the same item with additional benefits and features.
– Not choosing a niche
Successful service providers are attracting new customers expecting them to be an expert in a certain niche. You can’t always be effective trying to sell a product or service to the masses.
Success dictates the importance of focusing your efforts on your target audience in a specific niche. Sometimes niches can overlap. Everyone needs soap or toothpaste. But not everyone needs to take a course in HTML, or CSS programming. But the idea here is to not stray far away from the main niche.
– No Portfolio or Catalog
Especially for service providers, your portfolio should give examples of each of the services you offer, or a catalog of products offing selective choices to potential customers.
Your objective is to get a larger share of the customer, than just a bigger share of the market. This means getting the same person to buy more, or to continue to purchase regularly from you providing your company with residual sales profits. After your first sale to a customer, they know you and reselling more to them will be free in marketing costs.
You spent advertising fees to attract them one. You now have them and don’t need to spend additional advertising fees to get them again. Thus, your profits can be greater on additional sales. A monthly membership website is a good example of this.
A professionally constructed portfolio or catalog can be the perfect tool for attaining new clients
Be sure to include clear descriptions, titles, images if appropriate additional links. If you have a number of samples, group them according to categories, to increase the quality of your customers buying experience, speeding up their search for locating what they are looking for.
– Not marketing
Self-promotion is a must for attracting additional clients. There’s no need to be shy here. Prospective clients won’t magically find your business, and they are already acclimated through their exposure to regular daily advertising to expect this. You must self-promote yourself and/or your business!
Locate, and concentrate on attracting customers within your specified client niche. Where do they spend much of their time online, watching videos on YouTube, posted pictures on Instagram or Pinterest?
It’s necessary to expose your offering to as many within your niche as possible, attempting to entice them to give you, your products, or business a try.
In concluding this five-part series on, ”How to attract more clients to your business,” I hope you have benefited from it and will continue to follow the Stanford Trade Center (STC) Blog
If you are interested in additional information as outlined in this article, need assistance in applying this information, or just want more resources, contact us for FREE (no obligation) and we will do our best to accommodate you.