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Sunday, July 15th, 2012

Top Tips For How To Discuss Fees With Prospects

Hope you’re enjoying the weekend. Here are not just 1 tip, but 3 help you charge what you want:

This tip works real well for B2B: Charge for the initial consultation. Too many people selling to businesses spend hours (or days) on analysis, meetings, proposals. Turn it around, make your client analysis a service/product and charge at least $100 for it (preferably much more). Your prospect is now a customer and you have a much greater chance of closing first go. I suggested this in a mentoring session recently and my client did it the next day and sold 2 ‘consultations’ the same week!

much do you charge? You want the prospect asking that. To get them there you the benefits. The outcomes. The results. How good they’ll look. Anything that will make your prospect see the genius in your offering. You then tell them how many hours is needed in EACH specific area of work you need to do, and why, if the whole lot is not done, they will not get their outcome. Then you tell them the rate. Then you throw in free hours that your competition won’t. And you have a deal.

A really strong one to make sure you maintain your rate is to throw in freebies. Add a free report, or your free ebook. Even a free side service. As one lady in San Diego put it to me on the weekend: “I do 2 for 1”. In my head I went “what…?” She said: “When you buy 1 hour, you get 2. And if need be I may throw even more time in to get your job done.” At that time there is so much goodwill built up that the rate hardly matters. Let’s just say she got the deal, I did not question her rate.

The other day I was featured on nancy Fox’ The Business Fox with just one of these. If you want even more check here: http://thebusinessfox.com/blog/2012/06/22/how-to-master-the-money-conversation-with-prospective-clients/

  • Rose

    I like the two for one idea, everybody likes a freebie once in a while and if it’s retail you will go there and buy something just to get a free one. So the idea that you give them two hours for the price of one hour is a good idea. Develop a relationship with these people and it will go a long way. Thank you for posting this you have some really great tips.

  • Robert

    How do you get the client to ask or want to know at all how much it costs, just by explaining what you do and how you do it? Build yourself and your work or product up to the point they want to know what it costs is what you’re saying here right? I find that very difficult because I don’t like to build myself up at all. Great article keep up the good work.

  • Rachel

    Offering the customer something for free is always a good way to get them to listen and then once they are listening to you and your ideas you can give them your pitch and sell your idea or yourself to them. If this is done right you will be asked what the fee is right away because they want you product.

  • Denise

    Do something for people and they will want to support your goals, give them something free and they want your business to do well because they are hoping to get more freebies. Being in business is all about the relationship, you have to build relationships with your customers because they are going to keep you in business. Thank you for this article it was great.

  • James

    Unless I am misunderstanding this concept, isn’t this like charging prospects a consultation fee? Believe me, I don’t mind charging anything so long as I can get away with it. But I do think that if you include bonuses, you stand a much better chance of being able to include a project assessment fee as part of the contract. Just make sure you include other bonuses into your offer as well.

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Mike Boorn
Founder of TREPcoach

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