How to Price your Service as a Digital marketer

 

How to Price your Service as a Digital marketer

So, today were going to talk about something that you all wonder about and its the very simple concept of what you should be charging your clients,  And today,I am going to clarify it for you, Im going to make it very very very simple and going to paint the picture for you of why that makes sense. So, let me make that make sense. You can charge people based on the value that you deliver, you can charge people based on the value that you deliver. In other words, if youre offering a service that helps businesses grow and you say: Hey, I want to charge you 5000 dollars a month but as a result from working with you, they only make 3000 dollars a month. Then youre over charging my friend, you are over charging my friend. And then if you are sitting there like: Oh myGosh Wasiu, I dont really know what kind of results my campaign yields so I don't know what to price and you don't know enough about your business or service and you need to takea step back. May be just developing some case studies and finding out what you do is actually monetary worth. Because at the end of the day every business owner just wants to make more money, and if you can't show that then you are Fucked. [Zoom in right here, I want say it again If you can't clearly show your business how youll make them more money, then you are 1, 2, 3, Fucked]. So, here is the reality of this situation,its that people place value based on the experience that they get. I will show you an example,Reena, whats the most you've ever spent on a concert ticket?Reena> If were talking about festivals, about Billy Gene > All that Coachella shit, Outside Lands or whatever the hell she goes to Reena &gt.About 350 Billy Gene &gt.Three Hundred and Fifty Dollars for a ticket. For me, I'll watch a video on Youtube and I'm good, right? But for her, it makes sense. Tell me why, whats worth 350 dollars for you?Reena &gt. Three day event, a bunch of bands I really like to see that I would pay individually for way more than that, so Billy Gene >So, you basically saw the valueReena &gt. It was a Bundle Billy Gene &gt. It was a Bundle, they got you a Bundle deal so it makes sense. So, you would pay that price alone to see one of them and you got to see all of them together, so it was Reena >Something like that. Billy Gene &gt.Close enough. So, my question to you is, how many years have you been to this event?Reena > Five.Billy Gene > So, shes been five times and paid 350 dollars every time. So the company has brought in 1500 dollars for her and shes a five year customer, #Loyalty. My friends, that is how you create recurring revenue in your business,you deliver and experience that someone wants more, over again and again .

So,these lightning in a bottle Coachella people got Reena, they got her hooked, they figured her out, they delivered value to her, right? So, [weve got our notes here] now objections,right? So a lot of times, you guys will talk to the client and youll say: You know Sir,you have a good conversation, they really like you and then you mention your price Ok,my services are Sometimes, when I first started, sometimes I would charge like 300 bucks and people are like: No, that is too expensive and I knew they could afford it. So, lets just say you are charging 500 dollars a month for your services, just 500 bucks, right?And you get the response and they go: You know, I really like you and I think it is,but I just really cant afford it right now. How much of that just kills you; you spent3 days, maybe 3 months chasing down a client and they just look you in the eye and say they cant afford it. So you know what they are really saying to you? What theyre really saying is: its just not worth it and I dont really believe that its going to work. Let me show you an example, Reena, If I was going to sell you a Ferrari right now for 20.000dollars, right? And lets assume that you only had 100 dollars in your checking and savings account combined, but I was going to sell you a Ferrari for 20.000 dollars. What would you do to buy that Ferrari? Reena >Is it a new Ferrari? Billy Gene &gtIts a brand new Ferrari with all the bells and whistles, the rims, the tinted windows,[unrecognizable word] and all the shit, LoJack. Reena >I would grab your phone and Venmo myself. I would create a GoFundMe account.Billy Gene &gt. GoFundMe account, Id have the opportunity to buy thats a really good idea. Reena >I would get my boyfriend to sell his sperm. Billy Gene >See! Creative, but here is the thing Anything else you would do? Or anything you wouldnt do? Is there anything you wouldnt do? Reena >Not if it would get me 20.000 dollars. Billy Gene >So, here is the thing, even though Reena in this example has 100 dollars in her checking and savings account, because she understands the value of that Ferrari so far supersedes20.000 dollars that she can freaking resell it and make a couple hundred grand. She can just own it and have a 20.000 dollars Ferrari and just enjoy it. But my point is, shes willing to sell her boyfriends sperm to get a Ferrari, shes willing to steal my phone and Venmo herself money to get the Ferrari right now because the value is clear. And she also has confidence in the product, Ferrari has been around forever, everyone knows what a Ferrari is, she trusts that this is obviously a good deal. So what your client really is saying to you is: Hey,Im not going to buy your shit because youre not a mother fucker Ferrari.So, here is what well leave you with today, when youre approaching a client, you need to clearly understand and be realistic about the value you deliver, and if youre sitting there right now like: Well, you know, I know I deliver little value because a lot of people will see the advertisements that I create, and It has a good brand effect in the long term. If you have to tell yourself all these lies and like rationalize your price, you are  not worth what you charge, and you now the only way to overcome that is to acquire anew skill set, be able to do something that somebody else cant; that then makes yourself worth that money. #Doctors, #Attorneys, they can charge a shitload because I cant defend myself, I cant give myself open heart surgery; so they can charge accordingly because there is only a handful of people in the world who can do that. So, if your skill set consists of a bunch of shit that everybody else can do, then youre gonna have a hard time charging higher prices and getting paid what you want be paid. Wooow!

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