You have a company meeting to discuss an idea, solve a problem or choose a service provider.
You put the topic on the table and wait for reactions.
Deb says, “I don’t see that working very well.”
John says, “OMG that’s a great idea.”
Margo says, “What if we do it this way?”
This is normal in every knowledge based services firm. Knowledge is ideas that you develop expertise about.
These conversations—maybe discussions, maybe passionate debates!—are how you deliver life changing IMPACT.
Why am I bringing this up?
Because your clients and prospects do the very same thing.
Each individual prospect is likely to have a thought or opinion about how you can help them.
And certainly, when there is a group making the decision, there will be various points of view.
Do you splinter your services into little slivers, one for each buyer? Do you have one fixed offer that’s take it or leave it?
Or do you take the time to understand the range of perspectives, and offer two or three options from which they choose?
I believe the only way to truly grow your own business, increasing both revenue and profit, is to offer three, or at least two, options.
Let’s look at what that means
You’re meeting with your client to discuss something that’s on their minds.
First you have to identify if what is on their minds is a need, a want, or a desire.
- Need means they are stuck or going backwards without it.
- Want means it would be very helpful to them going forward to reach a goal.
- Desires are big goals that may take some significant effort to achieve. These desires will be transformative in some way.
Once they’ve chosen among needs, wants, and desires, you learn more.
What’s the first question you ask?
“What would be the IMPACT if you meet this need, or want, or desire?”
Then let them talk. And talk, and talk. The more you make space for this conversation, the more you will learn.
What they say that will inform your offers.
- You do not have to guess!
- You do not have to make it up with fingers crossed!
Do not impose your preconceived ideas on them.
Once you’ve agreed on the IMPACT they are seeking, you can begin to suggest some options that will deliver all the IMPACT or some part of it.
“Think out loud” with the client.
Start with the highest value IMPACT they shared with you. Something long lasting and transformative. Something that’s a 9 or 10 on the IMPACT based pricing Continuum.
Don’t press for a decision…
Just ask them to think about how their life would change if you delivered that IMPACT.
Then suggest offers that would deliver some IMPACT and somewhat less IMPACT.
Never minimize your smaller offers or make the client feel they’re missing the boat or will fail if they choose one of the lesser IMPACT offers. Couch these lesser IMPACTS in their own words. They told you how they feel and what they think, now use their words as you speak.
By the end of the meeting you and the client should have agreed on three levels of IMPACT.
From there you can go back to your office and put those in writing, with fees proportional to the IMPACT they want.
Just like in your own meetings, clients have different points of view. When you give them choices that reflect those points of view, they are far more likely to choose one. If you give them only one option, all the doubters will say no.
The IMPACT Based Pricing Continuum
I’m excited to share the Continuum with you today. Take a moment to think about your services and how they deliver distinct levels of IMPACT. Place your offers on the continuum: what falls in the 1,2, or 3 range? The middle range? The highest end? Get more details here.
The Continuum could be the topic of your STARTER call. You might want to discuss how it would work for your company. You could place some specific examples of IMPACT on the Continuum.
STARTER calls are complimentary 30 minute conversations where you ask your questions and I help you get STARTED answering them. Hit reply, or text STARTER to 703-801-0345. You do not have to get started alone.