Online Marketing/How do I create a compelling offer for my services
Hi Nat---I have asked you several questions lately & appreciate your responses. I am revamping my websites & marketing strategy----this question may answer the last piece of the puzzle for now-before I can decide on what exactly I need to do & when to hire someone to do it for me. You recently answered a question about optimizing my site--which I am going to move forward on.
Ny current question is this-
I provide a service that gets leads from my website-
my normal fee as it states on the site is $99 to speak directly to me by appt.
I have just recently offered-as it says on the site just below the $99-that I also offer the same information at a discounted price of $75---to 'get the same information you would get by appt but at $75 via email.
I have only offered this $75 price option for several weeks. It may be too early to tell but I am getting significantly less sales. I have no other way of tracking this---just do they buy or not. Do you have an opinion that this new $75 option has any kind of negative effect on sales? Somehow confuses potential clients or devalues the $99 or the whole offering?
You're on the right track ,however, I believe the offer needs to be stronger.
If you truly want to move away from the phone you need to make the e-mail report offer so irresistible that they would jump on that instead of the phone. Then with the right marketing and enough volume you might eventually replace the income you currently earn from your phone consultations.
This is the challenge most marketers face because in order to enter the next phase of your business - make it truly hands free - you need to make that offer so compelling that they would be crazy not to take advantage of it.
Now, if you're losing phone sales because the new offer is on the page I would try a few things.
First - Create a page dedicated to the e-mail offer only and provide a link on your main page for telephone consultations to this new page.
The link might say "Click here for a great discount on the same information" or something like that. They click and are taken to the e-mail offer page which goes into more detail about how they will get the same information but delivered in a highly readable format which they can then refer to time and time again. There is something to be said for having a written resource to refer back to.
Second - Double your initial phone consultation price.
Then if they return for another one you can give them a break on the subsequent pricing to the $99. The doubling of the fee makes that $75 look even more attractive. Heck they save over $100 by opting for the information to be delivered by e-mail. Who wouldn't want to save over $100 these days?
On raising your pricing - At first it's always a bit scary to adopt this approach.
However, I have found that most people undercut their pricing significantly. Either they don't believe people will pay the higher price or they don't believe in themselves enough to do it. There's a great marketing guy by the name of Dan Kennedy (forgive me Dan if I don't get the following story exactly correct). Get any of his paperback books and you won't be sorry. When he was starting out in copy writing he belonged to a local chapter of copywriters. They would all discuss their fees etc and how you have to be careful about price and he was hard pressed to see how any of them were making any money but of course they had been around a lot longer so he figured they knew what they were talking about. But he decided to go a different route. He was asked to quote a copy writing job a few months later for a sales offer and he told them $35,000. Now this was something that the group of copywriters might have charged $5,000. You've got to have a serious belief in your abilities and that you will deliver a great product. You also have to have big brass ----s and deliver the quote with a straight face. Did he get the job? Yes. Were they happy? Yes. The lesson of this story is that we often sell ourselves short as entrepreneurs and as a result we price our offers accordingly. The client saw Dan as the copywriter they should use because they wanted to go with the best and well....you have to pay to get the best. Tiffany has used this strategy for years. If a piece of jewelry wasn't selling at a particular price point they would raise the price. Heck, I have an Aunt who was trying to sell her house a few years ago. The realtor kept suggesting she drop the price. So she did. After a few months, with nothing happening, she went back to the same Realtor and raised the price 30,000 over her originally listing price. In 2 weeks the house sold for not much less than the new price.
Third - Make the e-mail offer more compelling.
How do you do this? If you stay with your original pricing structure then I would drop the price on the e-mail offer to between 30 and 45 dollars. It's painfully obvious that the visitors don't believe the discount is enough to merit their attention. I would also throw in a couple of free reports to add more value. There is a saying in direct marketing. Give away information that you think you could charge for and prospects will see your offers and you as someone worth doing business with and a trusted adviser. Give until it hurts. And remember that as you do this you are building an e-mail list that you can then use to provide free information and market upcoming information products that they might be interested in. These information products don't necessarily have to be yours. They could be reports that someone else is offering but will pay you every time they get purchased from someone on your list. Or you could hire someone on ELance to put together a book that addresses different problems that people are looking for the answers. They research and write it. Then you proof read and put your spin on the information. It saves you the leg work and there are some great medical writers out there who are very inexpensive when it comes to this type of assignment. They could also write reports for you which you then add to your e-mail offer to make it more compelling.
Fourth - Remove the e-mail offer from your site and see if your telephone sales pick up again.
If they do, then perhaps my initial observations were correct. Either the price point was too high or there wasn't enough value imparted.
Fifth - Do a survey.
Ask those who contact you if you could ask them a question before you start the consultation.
If they agree then ask them if "they" think getting the same information by e-mail at a discounted rate would be something they would be interested in. I would also make the effort to contact all those who have had consultations in the past to see what their thoughts are on the subject. If they are already on your e-mail list this should be easy enough. There are free or inexpensive survey programs. You simply provide the link in the e-mail and they go and answer yes or no. If you're sending out a newsletter or keeping in touch on a regular basis with your client base then this just gets sent to that list. If you don't stay in touch with past clients then this should be set up so they get good information on a periodic basis. This alone creates enough good will that they would be happy to help you by completing the survey.
I hope this helps