I work with a lot of trainers and consultants who go into client meetings with the wrong mindset. And it’s costing them opportunities.
You may know a prospect’s pain points and have a solution ready to go. But when the money conversation starts if you focus on the cost of your services rather than the savings the prospect will experience, in time or money, you are setting yourself up for failure.
People hate spending money. But they don’t mind investing in a solution that will help them increase revenue.
In my own situation, I provide an all in one marketing solution for speakers, trainers and consultants. I develop marketing strategies, build and maintain websites, write eblasts and blog posts, produce newsletters and manage social media.
It’s the type of stuff most know they need to do, and do it grudgingly.
And that’s fine. But how much time is this taking away from real prospecting? How much more work could they do if the marketing was wiped off their plate? A lot.
So I don’t position my monthly retainer as an expense, but rather an investment that frees up my clients to spend more time on revenue generating activities.
But enough about my job. How does this work with you?
If you are a speaker or a consultant, you need to frame what you do as an investment. If you are a sales speaker or trainer, the conversation isn’t about how much it will cost to bring you in, but how much money a sales team will make if management invests in your service.
Do you increase communications effectiveness? Then find a way to quantify that. Improve leadership? Does poor leadership contribute to employee turnover? How much does it cost to recruit a replacement when someone leave? Does your leadership program save money?
If you can properly position your service as an investment then you can have the money conversation from a position of strength because you are not just pulling some random figure out of your butt. You are demonstrating your value and the return on investment to your client.