Big brother is here, but he’s not bringing more revenue.
There are lots of frightening things in the world these days. And now there’s one more!
An article today In the New York Times should scare anyone who thinks, creates, and uses their knowledge and expertise to make a difference to their clients. And to make a living.
It’s about “productivity management sytems.” The sellers of these productivity management systems say it’s all about accountability and paying people for productivity. It weeds out the less productive people and pays bonuses to the more productive ones.
My bottom line is this: Don’t fall for this! Some technolgoy companies have tapped into management anxiety about productivity and are now selling monitoring systems to rake in zillions of dollars.
This is not about productivity, it’s about profits for those tech companies.
Nowhere in a nearly 4000 word article is one single mention of increased revenue, profit, or client satisfaction. NOT ONE!
Your Firm Needs Satisfied Clients
You know I’ve been urging knowledge services firms to adopt fees and pricing that are proportional to the difference your firm delivers to your clients.
Make a huge IMPACT? The fee should reflect that. Make a modest or short term difference? Your fee should reflect that.
When your associates talk with clients about their current or upcoming issue, using the Issue Chart, they learn how they can help that specific client.
When the client has the chance to analyze how meaningful a solution will be, using the Continuum, they become more engaged.
And when the associate makes offers to deliver a difference that reflects the client’s exact desires, and then an offer for less and an offer for more, the client satisfaction is high.
“This person is listening to me!”
“I’ve really been heard!”
“Wow, they care about ME. I’m not just another number.”
And so it goes.
The client is thrilled, they come back for more, and they tell their friends.
Not one single thing about this revolves around “productivity” as measured in minutes.
Are these experts and professionals productive?
How do you know?
Client satisfaction, revenue and profit, and repeat revenue and profit all increase. Plus you receive referrals to like minded people who will become happy clients.
Why do I want to scare you away from productivity systems?
Because I’ve fallen for hyped up “systems” myself in other ways.
We see a huge company adopt the latest and greatest, and we consume their expensively produced marketing, including tons of testimonials, and we wonder…
Should I do this too?
It’s hard to escape the heavy duty marketing, produced by people who understand psychology and–dare I say it?—manipulation.
But don’t let that happen to you.
Stop thinking that time equals money.
Results equal money.
Life changing differences equal money.
Customized solutions that put the client first equal money.
Higher IMPACT equals money.
You can lead your firm to the greatest productivity meausre of all time: extreme client satisfaction.
Need a boost to get out of the time equals money rut?
I’m happy to help. Here are a few options.
STARTER calls (complimentary) are 30 minutes. Get a couple of quick start tips.
Think Tank is a 90 minute deep dive into how to change your current pricing practice and adopt IMPACT based pricing. We’ll go over the Issue Chart and the IMPACT Continuum so you can use them with confidence. $425.00 payable upon scheduling the date and time. Text Think Tank to 703-801-0345.
Follow or connect with me on LinkedIn to engage with my thoughts about pricing for knowledge services and to build your own network.