HOW YOU CAN PRICE YOUR BRANDING AND MARKETING SERVICES

HOW TO SELL YOUR BRANDING AND MARKETING SERVICES SO YOU CAN STOP PAWNING YOUR TIME FOR PAYCHECK AND START BUILDING A BUSINESS THAT'S STRUCTURED TO GROW



Now When Most Freelancers Get Into Business For The First Time They Tend To Come From An Environment Where They Were Paid A Regular Check They Came From A Job They Came From A Design Job A Copywriting Job And They Had A Steady Income And That Was Based On Their Time


When They Get Into Business For Themselves For The First Time They Tend To Take That Mentality With Them So When They Price A Job They Work At How Long It's Going To Take Them And They Price That Based On That Time But In Doing That They're Actually Creating A Job For Themselves Not An Actual Business.


SERVICES ARE DEFINED BY RESULT


Now When You Think About Most Services, For The Most Part, We Don't Tend To Pay For Services By The Error Now, Of Course, There Are Some Exceptions To The Rule You Might Pay A Cleaner Or A Babysitter Or Even A Psychologist By The Error But For The Most Part Most Services Are Actually Charged By The Result That They Achieve


BRANDING AND MARKETING SERVICES



So If You Get A Locksmith You Pay For Your Locks To Be Changed That Is The End Result If You Go To A Hairdresser You're Not Paying Them By The Hour You're Paying Them For That Hairstyle And If You Go To An Accountant You're Paying For That End Result Of Your Books To Be Taken Care Of.



YOUR MOST VALUABLE ASSET


Now You've Probably Heard This Before But It Is Definitely True That Your Time Is Your Most Valuable Asset Because It's A Diminishing Commodity You Only Have So Many Hours In Your Lifetime And Definitely You Only Have So Many Hours In The Day And Whether You Work Five Or Eight Or 10 Or 15 Hours In A Day You Are Limited By How Much Work You Can Do Within That Time And Therefore What You Can Earn Is Limited By How Much You Can Charge For That Time



MENTALLY SELLING YOUR TIME IS THE SAME


So As Long As You're Pricing Your Work Based On Your Time It Means That You Are Always Limited And You're Digging Yourself A Hole As You're Doing This Now I Know There Are A Lot Of Businesses Out There That Say That They Priced By The Project And Every Project Is Bespoke But A Lot Of Those Executioners Technicians Those Freelancers They Are Mentally Charging For Their Time


What They Do Behind The Scenes Is They Work At How Long It's Going To Take Them And They Base Their Price Of The Time It Will Take Them So Whether You're Charging Your Rates Out At An Hourly Rate And Showing Your Cost And Your Prices Or You're Doing That Behind The Scenes


It Is The Same If You Are Basing Your Prices Off Of Your Time You're Digging Yourself A Hole Because You're Limited




THEY DO NOT PAY FOR THE CHARGE THEY PAY FOR THE RESULT


The Amount That You Can Charge So The Mental Shift That You Need To Have Is That Your Customer Is Not Actually Paying For Your Time How Long It Takes You Doesn't Really Matter Whether It Takes You 10 Minutes 10 Hours Or 10 Days


If They Come To You Looking For An End Result That Is What They Are Paying For That End Result Not The Time It Takes You To Deliver


That End Result And That Is The Psychological Shift That You Need To Make So The Big Question That You Need To Ask Yourself Is

WHAT END RESULT AM I SELLING?


Now I'm Not Talking About Deliverables Here I'm Not Talking About The Logo Or The Website Or The Brand Strategy Itself


What Is The Result Of Those Deliverables So Is It Going To Make The Brand More Visible In The Marketplace Is It Going To Define Their Position In The Market Is It Going To Give Them Clarity In Their Communication Strategy To Connect The Brand With The AudienceWhat Is The End Result That They Are Going To Get From You Doing The Work For


HOW DO I SET MY PRICE?

Now Once You Understand What The Result Is That You're Selling Then You Need To Define How You're Going To Price Now There Are Two Approaches To This There Is The Profit Based Approach And There's The Value-based Approach Now The Profit-based Approach Is About You Knowing Your Numbers Knowing Your Costs What It's Going To Cost You As A Business To Deliver


What You're Promising To Your Client And From That Point, You Put Your Margin On Top Of That You Put Your Profit Margin On Top Of That And That Is What You Earn As A Business That Is The Profit That You Earn As A Business The Other Approach Is The Value-based Approach Now Chris Doe And Blair Ennis Talk About This And This Approach Is All About Working Out How Much The Work Is Valued By Your Client


What Is The The Result That Your Client Is Going To Get And What Is The Value Of That Result What Is The Monetary Value Of That Result Once You Know That Then You Can Work Out A Percentage Of That Monetary Value And Charge Based On That


Now Either Way With These Two Approaches You Are No Longer Selling Your Time For Your Services You Are No Longer Limited By The Number Of Errors That You Have In The Day And How Much You Can Charge By The Hour You Are Thinking Like A Business You Are Thinking In Terms Of Profit Or The Value That You Offer Out There In The Marketplace And That As A Model Is Scalable.





AKASH TIMES

I AM AN ENGINEER BY PROFESSION BUT BLOGGER IS MY OLD DAYS DREAM TO CREATE MY OWN SITE FOR THOSE WHO ARE CURIOUS ABOUT MY BIRTHPLACE THEN I AM COMING FROM (INDIA). THE CURRENT CITY LIVES IN NAVI MUMBAI, INDIA

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