How to price your services
Lesson 35 from: Sales Mastery Bootcamp for Freelancers: Sell More ServicesScott Lancaster
How to price your services
Lesson 35 from: Sales Mastery Bootcamp for Freelancers: Sell More ServicesScott Lancaster
Lesson Info
35. How to price your services
Lessons
Getting over the fear of rejection
04:23 2Why you should leave a Zoom call after 3 minutes
04:24 3How to never chase clients ever again
04:13 4How not to feel nervous on sales calls
05:23 5How to not take it personal
05:46 6Slow & Steady vs Fast & Many
06:11 7The importance of being accountable
04:12 8The importance of being invested and excited
04:56Understanding the difference between features VS benefits
04:48 10Assignment - Mindset & Motivation segment
02:39 11Helpful Doctor Approach
03:58 12Breathing method for better sales calls
02:40 13Managing your clients’ expectations
07:41 14How to smartly discover your clients’ budget
05:29 15How to come across as more confident
09:18 16How to improve your pacing
04:19 17How to structure a sales call
09:28 18Ghost Opening Method
04:18 19High converting sales funnel
09:17 20Shock Method
04:41 21The Halo Effect
03:04 22Organizing portfolio to win more clients
03:23 23Build trust using science
02:42 24Showing calendar during call
03:57 25Building unbreakable rapport
04:33 26Sharing relevant stories
02:44 27Using numbers to make prices make sense
03:21 28Using urgency and scarcity
04:38 29The parrot and captain technique
03:31 30Using FOMO
02:51 31The power of mirroring
04:38 32Always put your clients’ needs first
03:34 33Assignment for sales techniques
01:53 34The one who cares least wins
03:27 35How to price your services
06:38 36Handling clients who are bullying you
04:11 37Connecting with clients’ dreams
04:07 38How to use trial closes and assumptive selling
03:17 39How to overcome challenging objections
08:20 40When to mention pricing
03:59 41Assignment for negotiation techniques
01:22 42How to get video testimonials for your website
03:53 43Setting up automated Calendly meetings
02:35 44How to strategically improve your website using Hotjar
02:23 45How to get more clients
05:02 46How to get clients to pay more
04:34 47Do you need to be liked as a salesperson?
02:56 483 reasons why freelancers lose sales
05:27 49What makes a good vs bad salesperson
02:44 50How many options should you give clients?
01:32 51How to know when a client just wants a discount
02:40 52How to know when a client is interested in your service
02:00 53When a client doesn't reply
03:28 54How to practice your sales techniques
03:04 55How to ask high-quality questions
02:48 56Which social media platform is best for getting clients
03:54 57Which social proof is best for winning new clients
03:27 58How I sold a 10k website with one single email
02:58 59How to manage prospects and follow-ups
04:14 60What to do when you screw up on a project
02:38 61How to handle a client who wants a refund
04:10 62When a client wants lots of revisions
03:32 63How to spot a nightmare client
02:17 64How long should you small talk?
01:07 65Should you spend time creating proposals?
01:35 66How to get a sale without being too pushy
01:22 67What to do when a client says you are too expensive
03:46 68Assignment - common questions
01:32 69Realizing who your most valuable customer is
03:32 70How to use discounts to charge more
01:53 71Price anchoring technique
02:43 72Creating product flow and product expansion
02:34 73How to win client loyalty for the long term
01:09 74Last assignment project
04:14Lesson Info
How to price your services
So pricing your services is a very, very tricky thing to do. However, it can be quite easy if you follow a simple step by step process, but it is a process. It isn't a case of, you know, just kind of figuring out the ideal number and that's it. You just leave it at that because that would be stupid. The reason that it's stupid is every single time you fulfill a project and deliver and gain experience, you're getting better and better. So therefore your pricing should increase in correlation with how much you can offer the client in regards to value. So how do you figure out where to start? I would start if I was right at the beginning of my journey at the very basic minimum. And the reason that I would do that is I need to get as much experience as possible. So earning as much money as possible is not my priority. Having happy clients, earning as much experience as possible is the goal I need to get good or great or the best in the world at what I want to offer clients as a service. An...
d when you can do that, that changes your entire life. And I mean that I'm not speaking in cliches here, it will change your entire life because you can actually provide value in a way that very few other people can because you'll have a unique set of experiences and skill sets to offer to a client. Now, in regards to actually pricing your services at the beginning, as I said before, keep it to a bare minimum, get clients on board by any means necessary. Now, when it gets to a point where you cannot keep up with demand, this is the freelancing gods telling you that you need to up your prices, ok? And you are going to very quickly realize how much you can charge once you have a basic understanding of what you are offering as a service and you can do it to a good level and you've actually had some good feedback from clients and they're coming back again and again. So how much do you increase your prices by? I'd say double. So if you're charging $100 charge 200 and test it out if you get clients coming back still and you still can't keep up with demand double it again. And it may seem scary to double your prices. But let me tell you a little story. So I was in China visiting my girlfriend's parents at the time and I basically needed 10 days off because I was spending time with her family. I was spending time with her in a completely foreign place. So I had no idea how I would find time to work because I had so much stuff going on. So I did what any logical person would do. I timed my pricing for my naming service by five. And sure enough, six days later, I got an order from a client who would pay five times more than I thought. What was the maximum for naming service? Which the time was like $500. Now, like $1000 is our least expensive package. What did this tell me? It told me that what I thought about the maximum that I could charge for my services was complete baloney. It was nonsense. Think about it this way. How much do you think your product or your service is worth is nonsense. How would sign is that crazy? Right? The only reason that you think that it's worth that is because that's the most you've ever charged for it. If you charge double tomorrow and someone paid it and was very happy with the service and thought it was good value. That limitation would be completely gone, it would be shifted. So this is the process for learning how much you can actually charge and then what you can do when you get to the point where you actually understand your pricing a little bit better is you can turn it like a lever. So for example, if you want to do more work, like for example, my son's going to be born in the next four months, I believe. So, I'm currently switching it up. So I'm going to be working on more projects for the next four months and then as soon as he's born, I'm switching it down. So I'm going to probably put it at like 5000 or something. And if someone does purchase the package at 5000, then good. But if they don't, I don't really care because I want to spend time with my son, I don't want to be working while he's a, you know, a newborn. And, you know, I'm only going to get that chance once. So this is super important because when you get to that stage where you can basically understand your pricing and just use it like a lever to get more clients. And then if you don't want to work, if you're going on holiday or something, and you know, you really don't want to be spending your time at your laptop or your computer just, just literally smash it up by 10. And then if you don't get any clients, great. If you get a client which is paying 10 times the amount for what you were originally charging, then great, right? So then you can actually understand how much your services are actually worth. You know, I actually got a guy who works at a branding agency just outside of London and he emailed me asking for the template for what we use for our brand naming service just to see it. And I just said, nah, it's all right. It's, it's ok. Thank you though. I appreciate your interest and he sent back such an arrogant email saying you do realize that we get 50 clients, get in touch with us every single day to hire us for brand naming services. We're always going to be better than you and you'll never overtake us. And uh I uh I don't really care to be completely honest, but the funny thing is he can charge what he's charging, which I think is something like $150 for like a package or something. So put it this way for our medium package, he would have to serve 10 clients at his package pricing where I have to serve 1 $1500 or you know, pounds, whatever. It's all the same. So I can work with clients and make the same that he would make to working with 100. You get the idea. It's not all about working with as many clients as possible. When you get to a certain level at the very beginning, it's all about that. And we all have to do that. We all have to really get into the trenches and work super hard. But when you get to a point where you know that your service is refined enough and your process is established and it's got the evidence to see that it works, it becomes less about how many and it becomes more about how much you can charge and the quality and the service and the value that you can provide. So I hope this helps to shift your perspective in regards to pricing a little bit and to look at pricing in regards to an experimental exercise and not just a thing where you find the perfect price and that's it. End of story, blah, blah, blah. It's not quite like that. And I wouldn't suggest anyone look at pricing like that. It's a shifting pendulum and you should look at it that way. Anyway, hope you find this lesson helpful. I will see you in the next one. See you soon.