Does this sound familiar? You spend hours if not days working out how you can help a prospect, and putting together a proposal for them. But then you send the proposal to the prospect and they immediately go cold.
With the clients I work with, the most common reason for this is that they immediately try to sell their prospect on their core service. However, from the prospect’s point of view, they don’t even know or trust them yet, so why should they commit to a huge monthly contract? Would you if you were in their shoes? Effectively they are trying to do this:
The way to solve this problem is to have a product you sell that precedes your core service. So, if you’ve got a web design business, for example, and your core service is building websites priced at multiple thousands, how about having an offer to design a company’s logo for say $50 or £50? Now obviously you’re not going to make a profit here, but if someone is buying a new logo, what do you think they might need next? If you answered that by saying maybe a new website then you’re thinking along the right lines.
Effectively we’ve introduced a stepping stone to them becoming a customer:
This isn’t free, but from your prospect’s perspective it’s a lot less risk than going straight to your core service. It also makes it more likely that they’ll eventually buy from you once they’ve undertaken a transaction with you and experienced how great you are to work with. The really important thing is to deliver lots of value with your lower priced offer, so the client (yes – once they’ve bought the stepping stone offer they’re now a client) thinks, “if this is what their cheap stuff is like then their core product must be amazing”.
From you’re perspective the best thing about this approach is that you’ll actually make more money structuring your offering this way.
And best of all, if you only offer your core service to customers who have already purchased your stepping stone offer, then you’ll have a much higher proposal close rate for your core offer, so you’ll be wasting a lot less time writing proposals that go nowhere.
I’ve helped lots of my clients put these offers in place, including lawyers, dentists, and even software companies. If you’d like to know more then get in touch and I’ll send you the details.