Some people have little difficulty attracting and maintaining higher-paying clients. Others can’t get to first base. Higher paying clients consume less time, exchange energy instead of zapping yours, have higher regards for your relationship, give more referrals, pay on time, and this in turn allows you to make higher profits.
When asked how I recommend raising client’s fees, I answer honestly, “It’s very difficult.” Why? Let me share this
story, one I’m sure you can relate to. You go to the store to buy more of something you like but you don’t have to have. Before you paid $10 and now its $15. You play with the package and stand there rethinking your need, it’s value and also wondering if can find it cheaper elsewhere. You leave empty-handed or buy something else. If your price is higher, their reaction gets magnified.
Another angle is to increase their deal, add something to the pot, something of perceived value. It can work if
handled correctly. A value added item could be a client- only monthly teleclass or access to a membership-only
website. An infopreneur can add client-only informational products.
To collect higher fees, you will most likely need to change
demographics, your mindset, internal and external language,
marketing strategy and materials.
Here is a list of ten barriers that might be interfering
with attracting higher paying clients:
1. Equal stature. People take the time to listen to people
who are as or more important than they are. Are you at
their listening level? Do you dress and act the way they
do? Phone interactions require mirroring their language and
thinking. Can you speak their language? Or do you need to
learn. Talk as equals. Learn their mindset and shift
yours. If your values are too different, then find another
market. If stature doesn’t match, they will smell it like
cabbage cooking in a kitchen. Show a similar state of
authority, confidence, and posture. Walk, talk, and sit the
way they do. If their mannerisms are too assertive for you,
either raise yours up or find another market.
2. Thoroughly know each of their challenges and what
solutions you provide that answer each challenge. What
problems are they experiencing? How can you make their life
or business easier? People take the path of least
resistance. Be that path. Higher paying people are proud
of their world and their decisions. They feel they deserve
it, they took the risk that the average person doesn’t take,
and you need to give them that respect but also have your
3. Be friendly with them but don’t allow them to manipulate
your time or energy. Normally, higher paying professionals
know how to delegate and leverage and they will use this
technique to test you. Be friendly with their
administrative assistants, receptionist, or other
gatekeepers but don’t bribe them with flowers or something
to get in the door. That worked years ago but the trend now
is tacky. And, yes, they will always report your language
and behavior back to their paycheck controller.
4. The higher their status, the more likely they will be
visionary people. Learn how visionary people think, their
viewpoints, and their language. Visionaries surround themselves
with people who believe in their visions. Listen to their
visions and respect them. They have the wherefore to make
them happen. Support their visions in any way you can.
Provide something that answers a step to their vision, even
if it something outside the scope of your service or
product. Do they need a referral or can’t find something,
do the research for them.
5. The higher you go, the more they expect from your
service. They expect special care and outstanding service.
They know their money can buy it and they demand it. Don’t
deliver anything less. They know what you provide and what
your competitors provide; you must know this as well.
6. Integrity is usually one of their top five values.
Always keep your promises and they will keep the
relationship. Even if they break theirs, you will need to
keep yours. The higher you go, the less you ever want to
break a promise. You probably will not get a second chance.
It’s like sitting in Donald Trump’s boardroom and he says,
7. Don’t brown nose. It’s a cabbage thing. If they smell
it, they will either quick answering your calls or play you
for entertainment and then toss you away. If you get this
label, just move on.
8. People that earn more money substitute the word “mistake”
for “learning lesson.” If you don’t share this philosophy,
change it. It’s a good one to change any way. They
experience life and don’t worry about the valleys. The
mistake belief holds an underlying fear. Fear is energy and
has a smell, and they sense it, easily.
9. Their first response to your proposal will always be “how
can they do it with their own resources.” Expect this to be
their first immediate thought. Prepare to be able to
demonstrate what you offer is what they can’t find within
their own resources — they can’t match it without more
effort or a different focus. This will earn you brownie
points towards a sale.
10. The higher the stature, the higher leveraging skills
they learned. Leveraging also includes negotiating. The
number one skill I recommend people getting in business is
to learn how and when to negotiate and how people think when
they are in negotiation mode. The game changes with
decisions need to be made and the cards are on the table.
Higher paying clients don’t connect business and pleasure.
You will want to learn how to do the same. They may win in
business and have drink with your afterwards. Learn to let
11. The first “no” is always a test. Don’t take it
personally or as the final answer but make sure you have the
right match. Listen if they say no and give three reasons
why not. This is a firmer no and they are telling you what
they need (the reasons). It’s your turn to tell them if you
can answer those reasons. If not, you loose, negotiation
12. When you are looking for higher paying clients, look for
people who see your product or service as not only valuable,
but also essential to their goals or objectives.
13. Know what your service or product is worth and stand by
that value. Discount isn’t in your vocabulary or theres.
Don’t make it yours and speak of it first or even second.
Only speak of it if they are willing to show you the money
now and it leads to a higher value for something.
14. Remove the “under earner” mindset behind. If you have
more money then they do because of what you do, don’t talk
down to them, or make them feel inferior in any way.
15. Make it easy for them to work with you. Remove any
hoops or extra steps that take up their time. They are very
time sensitive. If it takes chasing you down by phone, they
will not bother. If you don’t answer their emails within a
comfortable time for them, they will move on and accomplish
whatever was on their agenda without you. When they do
contact you, rest assured, it’s important. They don’t waste
16. Decide in advance, how you are going to hand any
rejections or protests. What, when, where and how will you
follow-up? What back doors can you come in from — with
integrity, of course?
17. High presentation quality required. If they feel
comfortable seeing a slide presentation, don’t use a hand-
drawn flip chart. If you don’t know, ask a few of their
current suppliers and a staff member.
18. Set up a sophisticated referral-marketing program. It
really is who you know in their circle. Find their circle
and consistently show up. Not to market but to build
relationships and make connections. When they like you,
19. Be confident about your attraction. Feel the energy of
the universe, sense it’s attraction, remove any doubt and
believe in it 100%. Know that it will occur and allow
attraction to enter and be a total part of your life and