Reasons Why You’re Not Generating Qualified Leads

Nothing is more frustrating than spending time, money and effort only to find out that you’re not getting the results you want. You sent out emails, printed flyers and blasted your social media followers. Despite the effort and hard work, you’re still not getting the leads you need to grow your company.

If you’re having trouble generating qualified leads, you are not alone. There are several reasons why you’re not getting the leads you deserve. Here are some of them.

You’re targeting the wrong audience

When working on your marketing campaign, the first and most important things you need to do is to identify your target audience. This is a critical step that shouldn’t be skipped. If you don’t know who your target audience is, how could you possibly attract one?

Learn as much as you can about your target audience – demographic, interest, buying habits etc. If you fail to identify accurate buyer personas, you may end up reaching too broad of an audience or marketing to the wrong customers.

Your content sounds like a sales pitch

Creating new content is a great way to capture the attention of your audience and generate leads. But if your content sounds like a sales pitch, then people are not going to notice them. With the amount of advertisements we see every day, people learn to ignore them and focus on things they need instead.

If you want to capture the attention of your target audience, you need to come up with unique, interesting and informative content. Share your knowledge with them. Write blogs on a regular basis and make sure they are share-worthy. Eventually, people will see you as an expert and convert into a loyal reader or a customer.

You didn’t provide a call to action

A lot of marketers and business owners will take the necessary steps to acquire qualified leads. Your customers are actually where you want them to be. The problem is that you failed to provide a clear call to action.

People don’t know what exactly it is you want them to do unless you tell them. Keep your call to action simple – subscribe to our newsletter, get a quote now, contact us today.

You’re not active on social media

We know how powerful social media is. It allows you to interact and build a relationship with your target audience. If you are looking to drive traffic to your website, we highly recommend that you share your content on social media. With just a few minutes, you’ll be able to reach thousands and thousands of people. Not everyone who visits your site will turn into a paying customer, but you need traffic to get qualified leads.
How your business can generate leads | Business leads online | Email incentives | Email opt-ins | Content upgrades

How your business can generate leads | Business leads online | Email incentives | Email opt-ins | Content upgrades

 

Share
,

The Most Common Misconception About Digital Marketing

Running a business in the digital age has its perks. It also can be incredibly difficult. Retail stores need to rethink their sales channels and social media networks get you sucked into a deep abyss if you aren’t careful. Over and over again, however, we see business owners make the same mistake. It is based off a misconception that can not only hurt the long term success of your business, but can also keep you from ever getting off the ground in the first place.

The most common misconception about digital marketing is that digital marketing replaces the need to make personal relationships.

When we first create social media accounts for clients, we have to consistently change our client’s mindset about what their networks will do for them. Our clients want to see their networks boom, which can be a great goal, but to what end? Would you rather have a small network of devoted customers who trust you and help sell for you or a large network of individuals who don’t even recognize your name, let alone buy from you?

Many times the client who wants and expects the large network then stops their in person networking and relationship building thinking that one post per day is actually going to lead to new sales. Though, again, if your network is active and trusts you, this may do the trick, but for businesses, you can and should never stop your personal relationship building.

The digital age has made many business owners lazy when it comes to getting their word out. They sit online wondering why nobody has come knocking on their door. Those who hustle, however, reap the benefits.

You now have access to millions of people, if you only reach out. My recommendation for clients is to find the individuals who are are your level or a step above you that you admire and wish to connect with. Start following their social media accounts and commenting on their posts. As you do this, share their posts, too, and tag them so they can a notification that you are publishing their content.

From here… reach out! Write an email or direct message the individual. Let them know how much you’ve enjoyed their articles on X, Y, Z and then get straight to the point. What are your goals for reaching out for them? Do you want to run a joint webinar? Do you have an article that you think their audience would enjoy or benefit from?

The more clear you are, the more likely you will receive a reply. Of course, leading up to this point you’ve been interacting with them on their social media and blogs, so you should already have some name recognition.

In addition to digital networking, keep up your local networking.

Meeting with people and groups keeps us on our toes and from moving away from what the market needs. It helps us refine our message and get real time feedback from individuals we know and trust. This blog post  goes into more detail about why networking groups can transform your business and how to get involved.

To make sure that you aren’t making the biggest mistake in the digital age, continually get out of your comfort zone and form actual relationships with people you admire who are one step ahead of you. Even if the relationships start online, you are still treating the account handle or email as a person, and that individual respond accordingly.

Do you still network in person? Have you succeeded at reaching out to an individual you now partner with online?

Be sure to share your success stories!

The Most Common Misconception About Digital Marketing. Running a business in the digital age has its perks. It also can be incredibly difficult. Retail stores need to rethink their sales channels and social media networks get you sucked into a deep abyss if you aren't careful. Over and over again, however, we see business owners make the same mistake. It is based off a misconception that can not only hurt the long term success of your business, but can also keep you from ever getting off the ground in the first place.

Share
,

How to Create a Sales Page that Converts

The following template can be used to build a sales page that converts!

Step 1: Your headline: Keep your course title clear, but use the subheading to be descriptive and focus on how the item can transform your life. Below this include your first call to action button.

Step 2: Description: Keep this to 2-4 short paragraphs and focus on what it can transform.

Step 3: Add a Case Study or Testimonial: Include an image or video, name, and links to appropriate pages. If you are just started, ask your friends or other people you have helped.

Step 4: Add your second Call to Action button

Step 5: Introduce yourself! Give a bio block or a video. Make sure you answer the questions of why people should work with you.

Step 6: Add details about your offer or course. Start bringing up the class curriculum. Here you want the module titles and lecture titles.

Step 7: Include a second Case Study or Testimonial

Step 8: Answer any questions you often receive from your students or clients. Focus on answering objections people may have. Think about why would people not purchase your course?

Step 9: Add in your third Call to Action button

Take a step back and you are all set!

9 Steps to Create a Sales Page that Converts. Incredibly easy guide for your sales pages [Sales Pages for Online Course]

Share
, , ,

Top Mistakes You Can Make as a New Business

Working with businesses owners we see a lot of mistakes and successes. Especially for the new business or freelancer, the mistakes below can completely destroy your business before it has the chance to succeed.

Mistake #1: Striving for Perfection

“Have no fear of perfection – you’ll never reach it.”

– Salvador Dali

As a type A perfectionist, I struggled with this. It also is the number one thing I see people starting a business struggle with, as well. Your business is your baby and you are pouring your heart and sole into making it a success, but being too wrapped up in the little things can keep your from actually going out and finding clients. If you find yourself:

  • Stressing over your logo
  • Tweaking every aspect of your website
  • Rereading your introduction email over and over to make it just right (but still not hitting send)
  • Working on perfecting your elevator speech before you attend your first networking group

then you may be focusing too much on being a perfectionist. Trust me, though thoughtful branding can help you land more clients, if you are receiving personal referrals, it isn’t going to stop you from getting paying clients. People choose who they are going to work with based on your personal connection not because of what your logo looks like. Then there is your website… Perfection for every site is a moving target. Your products and services will change. You will notice contacts respond more to one aspect of your business rather than another. As for the next two points, you are procrastinating! It is okay to want to define your messaging, but just getting out there and putting yourself out to prospects is far more important. Sure you want to make sure your messaging is just right when you reach out to that dream prospect or mentor, but these shouldn’t be your first contact. The best part about putting yourself out there before you think you are ready is that you get to understand what the market actually wants and needs! When I first started Boundless Marketing, I had my dream service offerings in mind. Turned out that nobody even understood what I was talking about! There wasn’t a market. I drastically shifted my messaging and began signing contracts almost immediately.

Mistake #2: Thinking you can get clients just by posting things online.

“The richest people in the world look for and build networks, everyone else looks for work. Marinate on that for a minute.”

– Robert T. Kiyosaki

The internet and social media has shifted many of our mindsets about how you can get clients. Even through online channels you need to create a personal relationship with your network. Just posting your blog posts online isn’t going to cut it. I recently signed up for a program to Gain 100 Followers in 3 Days, just to see how other professionals where growing and starting their email lists. Guess what, these influential bloggers and business owners all start int the same place – asking friends, colleagues, clients, and prospects individually if they wanted to join their email list! If you find yourself:

  • Wondering why your networks haven’t converted into paying clients
  • Haven’t asked your mom, sibling, aunt, and grandparent if they want to join your list
  • Are frustrated seeing all these other people succeed

Then you may just be making this mistake. Start going to networking groups and collecting business cards. Take the email address you collect and shoot out a quick note following the template below :

“Hi NAME, I recently met you at EVENT NAME and loved learning about your business. I am in the process of starting an email list focusing on 3 TOPICS YOU WILL BE WRITING ABOUT, and was wondering if you would be interested in receiving the emails. My goal with list is to LIST BENEFITS. Are you interested in learning more?”

Not everyone will say they are interested, but the ones who do will help you grow your contacts quickly! We work with a lot of businesses who see varying amount of success through their social media marketing. The ones who see a return quickly are the clients who are complementing our marketing management services with their own outreach and networking. To see the best results from your marketing, you need to treat social media as you do in person networking. Create personal relationships and treat handles and usernames as individual people not just another account.

Mistake #3: Not Understanding Your Own Values

“When your values are clear to you, making decisions becomes easier.”

– Roy E. Disney

Okay, so this one does tie into the branding of your business, but it really is getting out being your authentic self. Knowing your values helps you to better manage your time, set priorities, and work with clients you enjoy. If you find yourself:

  • Wishing there were more hours in the day
  • Being drained after meetings with prospects
  • Continually wishing you had done X, Y, or Z

Then you may be making this mistake. One of my first clients taught me this lesson the hard way. My values are Relationships (family), Creativity, Challenges, Health, Experiences, and Knowledge. Shortly after I began my business full time, I traveled to my brother’s wedding. I was ecstatic to see him tie the knot and spend time with my family. Unfortunately, a new client nearly ruined my weekend. As a people pleaser, I started bending over backwards for the client and found myself anxiously checking email during the rehearsal dinner. I wasn’t being present. Finally, I recognized I would resent my actions if I didn’t shut off all devices to be there for my family. Sure there was a nasty email from my client, but we worked through our differences once the owner understood my boundaries. If you find yourself stressed about client conversations, I urge you to lay out boundaries, guidelines, and a list of responsibilities. You may loose some clients, but they are the people who take up 80% of your time. Think of all the other things you could do to grow your business if you had 80% of your time back!

What mistakes have you made in your own business that kept you from success?

3 Mistakes that can Ruin Your Business and What to do About Them. Working with businesses owners we see a lot of mistakes and successes. Especially for the new business or freelancer, the mistakes below can completely destroy your business before it has the chance to succeed.

Share
, ,

No Plan B – 4 Tips to Jumping into Business Ownership

“The best fights are those fought by those without a Plan B.”
― Mokokoma Mokhonoana

Jumping into business ownership is daunting. How do you know when it is time to let go of your previous life? How can you be sure that your new endeavor will lead to success? The truth is, there is no end-all, be-all advice regarding the right time to jump all in or whether or not you will be successful. There are things you can do, however, that can increase the odds of fulfilling your dreams.

Tip 1: Plan, plan, plan

Creating a road map for your business is integral to your success. Not only do you need to know where you are starting from, but you also need to know what your goals are for month 1, month 6, 1 year, and 5 years. Working through these goals can help you to understand what you need to do to reach them. From here, write a list of the top activities that in the end will lead to you reaching your goals. For example, in my business, we need clients. Most of our clients come from personal relationships, referrals, and outbound marketing. In order to be successful, each week I need to reach more prospects or referral partners. Even if I’m swamped with current projects, I need to make sure I am continually touching new businesses.

In addition to planning for how you will get your first clients, you also need to plan your offerings. Create a list of all the services you can provide and create sample bundles or packages. What if someone only needs help with one aspect of what you provide, how will you charge? What if they want something you haven’t thought of, but have the skills to tackle, will you create a custom service offering for that client?

When I started out, I thought I would only be offering data analysis for marketing efforts. I thought I would be helping clients to understand what works and what doesn’t work as a way to tailor their marketing efforts. Though this is something I do, I was able to listen to my tribe and completely shift my messaging and packages to align with what the market actually needed.

Regardless of how much planning you do, your business plan is going to change.

“We should always have a plan B, but at the same time, treat plan A like it were our only option.”
― Izey Victoria Odiase

Tip 2: Surround yourself with positivity, but not naivety

We all have cheerleaders. Often in business, however, these cheerleaders are wrong to not give push back. Your idea may not actually be all that great. This isn’t to say that you can’t make it in business, it’s just that someone who always agrees with you isn’t going to get you to the place where you will find the most successes.

Though you need to remove negative energy of people pulling you back and second guessing your move to entrepreneurship, you need to also make sure that the positive energy you are surround yourself in is made of people who have been through your same journey and can help give push back when you are approaching a common pitfall. The people you surround yourself with will have a direct effect on your ability to succeed. Find mentors and other business owners who can talk you through marketing, technology, hiring and firing, taxes, etc.

blogging your business

Tip 3: Don’t have a Plan B

Here I mean don’t plan on needing your plan b. Jump head first into your business and don’t get distracted. Though your offerings may change, you need to stay course that you are now a business owner. The most successful businesses take shifts in the market in stride, but never second guess their decision to be in business.

“I don’t believe we should carry backup
plans in life’s suitcase—

they’re too easy to unpack
like living a life in yoga pants,
so comfortable our hips spread
into new timezones…”
― Kelli Russell Agodon, Hourglass Museum

Tip 4: Have backup funds to support you as you jump in

Try not to jump ship unless you have some residual income, clients, or savings already in place. As a new business, you don’t want to feel as though you need to work with every prospect you meet and you don’t want to come across as though you are begging for the next gig. Though being on the verge of bankruptcy can motivate some, most of us will become distracted from our daily activities if you need to constantly worry about money.  Additionally, make sure you have truthful discussions with your spouse about how spending and budgeting will need to change and be realistic about startup expenses. Things always take longer and cost more than you initially estimate.

Tip 5: Throw all this advice away (except the part about listening to your market)

If you know it is time to jump into your own business, just do it. You only live life once, why not make it the most fulfilling life you can. I think the number one reason why people decide to be a business owner is that they are worried about security, health insurance, managing their time, but when you just jump into it, you learn to make things work.

I didn’t set out to be a business owner, but somehow freelancing turned into a full time income. Now I can’t get enough. I encourage all of you with a business idea to give it a shot. Start taking on clients on the side or developing your MVP (minimum viable product). Keep your salary, but work towards being self sufficient. In the end you will thank your employer for funding your budding business.

Best of Luck!

NO PLAN B - “The best fights are those fought by those without a Plan B.”  ― Mokokoma Mokhonoana  Jumping into business ownership is daunting. How do you know when it is time to let go of your previous life? How can you be sure that your new endeavor will lead to success? The truth is, there is no end-all, be-all advice regarding the right time to jump all in or whether or not you will be successful. There are things you can do, however, that can increase the odds of fulfilling your dreams.

Share
, ,

Are You Unemployable?

One phrase that always comes up when I’m chatting with my friends and colleagues whom own their own businesses is “I am just so unemployable.” Why do so many business owners and freelancers believe they are unemployable? Let’s dissect this below:

  • We recognize the value in knocking off top priorities and checking out for the day.
  • We are comfortable going for a run, walk, hike, lunch date in the middle of the day as a way to clear our heads for fresh perspective.
  • Even though we’ve traveled to Europe, Mexico, and across the US, we haven’t taken a REAL vacation in years.
  • We don’t understand why people bog themselves down in minute tasks that should be outsourced.
  • 98% of the time we don’t set an alarm in the morning (if you are a morning person) or go to bed at a decent time (if you are a night owl) because we know when we get the best work done in our daily schedule.
  • We choose only to work with clients who understand that sometimes little Suzie or Johnny needs to come to our meetings.
  • We cut out time every week to further our own education.
  • When we feel the most successful, our values are aligned with the work on our plate.

I don’t know, if I had an employee like this, I think I’d jump for joy! The problem is that so many businesses require 8 hours a day. It is a way to build a strong culture and often those who are first into the office and last to leave make a lasting impression on management about how committed they are to the organization. Surely as an employee, you can’t outsource those small repetitive tasks – or can you?

Running your own business takes perseverance. Every day you need to make a choice about how you will spend your time. It’s easy to get side-tracked by “shiny object syndrome” or those small tasks that don’t actually result in return. But if you jump all in, you may in fact find that you will never be employable again.

Do you find yourself thinking that you are unemployable even though you work harder than anyone else you know?

Share
, ,

Asana vs. Trello: Project Management Application Comparison

Choosing a project management tool as a small business can be quite challenging. The tool should be able to grow with you and integrate into other systems. Especially with remote team members, you need to make sure everyone is on the same page and that you have the ability to take a snapshot quickly of the progress of each project. For a long time, we used Google Spreadsheets to keep track of contractor activities, but soon found this to be too much of a nightmare as we grew. We’ve discovered Asana and Trello to be incredible resources for us and our client teams with whom we are working.

Though we all wish Salesforce was within our budget, Trello and Asana both have free platforms that you can utilize as you are just starting out. This blog compares the free versions of Asana and Trello to help make your project management app selection process easier as you are starting out with your business. 

A little background on Asana

Asana is a popular task management app that strives to manage team’s internal coordination. It has a simplistic UI design with the following features:

Asana for Task List and Project Management

Tasks: Tasks are the items that you need to complete or remember. They are organized into three groups: Today, Upcoming, and later. Each task can:

  • be assigned to one individual, but the task can be saved to multiple Projects. So, if two projects rely on the completion of a single task, you would include this on each.
  • have subtasks that relate to the main task
  • include tags for each sorting and organization
  • have set due dates including recurring due dates
  • have comments and descriptions making it easy to specifically communicate regarding one item.

Projects: Projects are made of all the tasks within one project. You can separate the tasks out into different Sections within the Project. The free version of Asana allows you to create 3 Projects. You can either view the tasks within a project as a Bullet Point checklist or using the Kanban system, which utilizes board to display the information.

Organizations or Teams: These are the divisions within Asana. An organization is everyone with a set business email address and then they can be broken out into teams. Within the free platform, you belong to one team, but can also have a personal workspace.

Drawbacks of Asana

Though Asana is a simplistic, it can be difficult to sort through which tasks are due when, specifically with recurring tasks. The future iterations of a task do not appear on your list or calendar until the current iteration is complete. Additionally, the integrations with other applications typically only works with the paid version. Lastly, sub-tasks can be difficult to work with as they can lose their connection to the parent task. For many projects, we’ve moved these subtasks to parent tasks and just named them to make it clear they belong grouped together.

A little background on Trello

Unlike Asana, Trello is a task management app that only uses the Kanban system to organize projects. It is much like using sticky notes on a white board to create a visual display of upcoming, in process, and completed tasks.

Trello for Kanban Project Management

Some features of Trello:

Board: A board is a process in development or a project underway. It is made up of Lists and Cards.

List: A list is a way to divide a board into different categories. These appear as a vertical stream of cards. We typically use each list as a step in the development process including lists for work in progress, needing approval, and complete.

Cards: Cards divide a list into the specific items that need to be completed. These can be made of checklists, uploads, descriptions, notes, and comments, and can link to documents and images. For each card you can:

  • add members
  • use labels for organization
  • create checklists
  • assign due dates (not recurring)
  • subscribe, copy, and archive.
  • move the card from one list to another until it reaches completion.

Drawbacks of Trello

Though I love the simplistic feel of Trello and how easy it is to visualize your progress, it does become a little messy once you have multiple cards, lists, and boards. When multiple people are assigned to numerous cards, you may lose track of an item that is your responsibility to complete. Lastly, our team has a lot of recurring tasks, making Trello inefficient for us to use as a management system.

Final Thoughts

I personally like both Asana and Trello, however we do utilize Asana for managing our own tasks and those for our contractors. This is because you can view items as a list, as calendar due dates, and as boards. Trello really only allows you to view the items through the boards (the Kanban system). Yes it’s great that you can move items between boards easily, but at the same time having that calendar functionality to see when a project is coming up and the ability to see a chart of the progression of a task is a great asset to have for your team. Also, we utilize the recurring due date function within Asana. 

Either free platform will work for a small team to manage their tasks and I highly recommend checking them both out. Be sure to let us know which you decide to use for your business!

Asana vs Trello | Business management with Asana | Business management with Trello | How to use Trello for business | Use Asana for business | Project management tools | how to manage projects | Free software project management | Tools to make business easy | Project management tools for small business - Trello vs Asana

Asana vs Trello | Business management with Asana | Business management with Trello | How to use Trello for business | Use Asana for business | Project management tools | how to manage projects | Free software project management | Tools to make business easy
Share
,

3 Tips to Increase Productivity as a Work from Home Mom

As a mom of a one year old it is incredibly important that when I am working I know exactly what needs to be accomplished and I have a framework for completing the tasks at hand. I’ve always been fairly good at not procrastinating, but I won’t say excellent, at prioritizing the things I need to get done. However, working from home with my daughter has proven to be quite challenging over the course of the year! For one, you never know if the nap is going to go longer or shorter than expected. Then there is the constant distraction of her learning new skills and growing to be more independent. Many of our clients, may second guess our decision to have Mary Catherine home while I work, however one of our big goals was that she would not have to be in daycare for the first year. Trust me, now that she is 12.5 months old, we are now looking at other options!

I have found the following steps to be essential to getting high caliber work done on time.

Tip one: First prioritize your day.

The night before I always create a list of the things that need to be accomplished the following day. From this list I know what are the top priority tasks. This helps me figure out those top three things that my business would not function without and what I could potentially hand off to one of our contractors. One way to prioritize your tasks is through the Bullet Journal technique. While I haven’t implemented this, folks I know who have found it to be incredibly helpful!

Tip two: Keep track of filler tasks.

In addition to the tasks that I know need to get done on a specific day, I also know the tasks that are outstanding but don’t need to be tackled immediately. There are additionally things that need to be done every week, but the day doesn’t really matter quite as much. These items I call my filler tasks. Filler tasks work wonderfully if Mary Catherine sleeps later than expected or is happy playing by herself, but still needs me to check in on her every once in a while.

Tip three: Structure around naps.

This next tip is combining the tasks above. My day is structured where my goal during Mary Catherine’s nap  is to complete as many of the top priorities as possible. When she sleeps longer I can fill the time with filler tasks. Additionally, during other parts of the day when I can concentrate on multiple items at once, I do these filler tasks, as well.

However, at times if Mary Catherine’s naps are much shorter than usual, I’ll need to tackle my list once my husband gets home from work and finish up the top priorities from the day. The worst, as I’m sure many of you have experience, is when you have multiple days of short naps and it feels like nothing ever gets done! During these days I put away my computer and just focus on Mary Catherine and the dog – hello work on weekends!

3 tips to increase productivity as a working mom

Share
,

Let’s Talk About Pricing

We are often chatting with new business owners about their pricing. No, this doesn’t necessarily relate directly to marketing, however, it is important to make sure that your business aligns with the market rates and what you’re worth.

In business school we learned about various models to formulate your pricing, however in real life this can be a lot simpler then how the large corporations do it.

There are three, techniques that we often see businesses use. These include using your cost plus a margin, setting prices at the competitive rate, and just choosing a random value. Let’s look at each of these more closely to see how your business can benefit from utilizing them.

Your cost plus a margin

The process here is to figure out the costs of all components of your product or service and add a percent margin over this cost. if you are a dropship store or retail store this is often figured out for you. The wholesale business will often tell you a MAP pricing or minimal pricing that you can sell the product at or the typical MRSP.

If you have a product take a look at the sourcing costs, packaging costs, shipping costs, and admin costs. Add these all up and then increase the price to have a margin of between 30% and 50%.

For a service-based business, you can use a similar frame of thought. Except, rather than adding up the cost of the product, you’ll be adding up the time that it takes to complete all of the different requirements with in a proposal and multiply by your hourly rate. The first step here is to write a list of everything, and I mean everything, that you do for a given client with in that package. When we double checked our calculations for packages this way, we include things ranging from adding the SEO to a blog post, to adding Twitter followers, and costs that we incur with advertising expenses. Our team even built a tool that we utilize that takes into consideration the other pricing models, as well. For any new client, we build the proposal off at this template.

We are currently in the process of building this tool for other service based businesses as well! Please contact me if you are interested in learning more.

The next obvious question here is how do you figure out your hourly rate. You will want to calculate this a few ways. First is figuring out how much you’d like to make every year and how many “billable” hours you expect (or would like) to work each week. How does that hourly rate look? A little high? What about all the other hours you will work prospecting, marketing, and in business development?

If the hourly rate number is within your industry standards or low, rethink the assumptions that you made. Do you really want to set your goal that low? We also always recommend brainstorming other ways that you can bring income into your business that doesn’t require your time and energy.

Competitive pricing

Competitive pricing is taking the same prices that your competitors use for their business. It’s often an easy way to get started, however, it can also tie you down. Before you simply choose the same price as your competitor, think about your brand. Do you want to be the lowest cost alternative and maybe get more volume? Or do you want to be seen as a luxury good or service?

The same product can be sold at many very different price points depending on how you position your marketing and your brand. Being mindful of this when you first roll out a service will help you with optimizing your marketing strategy and type of client.

Before simply researching what rate the others are charging, first decide if you want to position yourself as low-end or high-end.

Choosing a Random Number

You know your industry, so you may have a gut reaction or sense of what you should charge for your product or service. While I don’t recommend choosing a random number without doing research to back up your decision, often times you will be in the right ballpark. Just work your way back through to make sure you won’t be losing money in the long run!

What’s Missing?

None of these methods include the value You bring to the table. Sure you can build that into any of the techniques, but it often is overlooked. We once were hired to fill out keywords, meta titles, and meta descriptions for a site with over 40,000 listings that needed to be cataloged. I was to create the initial batch and teach their intern how to complete the remaining 39,900. The page content was all in a spreadsheet, so I created a variety of IF functions and a legend to combine different characteristics of the page to automatically create the SEO information directly on the sheet. An hour getting the formulas working properly and teaching the intern how to replicate the functions saved the company an estimated 100+ hours. In hindsight, I should have learned more about their project and charged based on the value I was bringing to the table.

How did you decide to set your pricing structure?

setting your pricing for business

Share