Dan Martell - April 10, 2017


How To Attract Bigger & Better Customers

Hosted by
Dan Martell
How To Use Private Facebook Groups To Build Your Network How To Juggle Shifting Priorities Between Business & Family

Episode Stats


Length

6 minutes

Words per minute

207.06

Word count

1,397

Sentence count

66


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I talk about how to get a lot of bigger clients and how to make sure you re doing it right. I also talk about why you need to price yourself out of the market to attract the bigger clients.

Transcript

Transcript generated with Whisper (turbo).
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.500 You don't use that.
00:00:01.500 No, I didn't.
00:00:02.000 You can save those clips for like that.
00:00:03.200 No, of course.
00:00:03.700 I didn't use it.
00:00:04.200 I didn't use it.
00:00:05.000 That sounds hilarious.
00:00:14.200 How do you attract big clients?
00:00:16.800 You know, if you feel like every day you work with customers
00:00:19.300 and it's like little tiny itty bitty kind of things,
00:00:22.400 like you don't feel like you're getting big, interesting,
00:00:25.700 meaningful projects, it's like all these little onesie,
00:00:28.700 choosy type things, or you don't feel like you're really
00:00:31.340 building the business because there's not enough profit
00:00:34.240 to be made, or some of these clients,
00:00:35.640 because they're so small, their expectations, honestly,
00:00:39.140 are more than what the bigger clients want.
00:00:41.740 Here's what I know, is that I would much rather a business
00:00:44.920 have less numbers of customers, but a higher per customer
00:00:49.920 revenue, because it'll allow you to do incredible work
00:00:53.560 with your team.
00:00:54.560 I mean, there's nothing more frustrating for a teammate
00:00:56.660 to always be in a rush and never actually have the time
00:00:59.500 to create something special.
00:01:01.260 And you want to make sure that your customers really are
00:01:05.040 the lighthouse that shines examples of the type of work
00:01:08.180 you do to attract other people.
00:01:10.240 So doing it right is always win-win.
00:01:12.340 You know, recently I got a call from an entrepreneur
00:01:15.040 that had a software business.
00:01:16.320 And I went to their website and I looked it over
00:01:18.680 and checked out the pricing page
00:01:19.780 and the onboarding experience.
00:01:21.280 And I asked them, what's the challenge?
00:01:22.520 They're like, well, we want bigger clients.
00:01:24.220 We want people paying us more for our service.
00:01:27.220 And I go, well, there's a lot of issues.
00:01:30.820 If that's your outcome, cool.
00:01:31.960 When I look at the website, there's a lot of challenges.
00:01:34.960 And I gave them three specific changes
00:01:37.300 that I wanna share with you today.
00:01:38.660 And it took them from $50 a month for their service
00:01:41.800 to over $500 a month.
00:01:43.840 And then an enterprise custom, click a button,
00:01:46.280 let's talk kind of form.
00:01:48.020 That's the opportunity, it's just you need to understand
00:01:50.720 that there's a different way that you do certain things
00:01:53.720 to attract that type of client.
00:01:55.280 So number one for me is you need to solve their pain, right?
00:01:58.660 Most entrepreneurs are not positioning their product
00:02:02.520 and what they do to actually attract that bigger customer.
00:02:05.960 Bigger clients want you to do more.
00:02:08.160 They wanna not think about it.
00:02:09.460 They're focused on results and outcomes.
00:02:11.440 They wanna be guaranteed that if they hire your firm,
00:02:14.480 they're gonna get that result.
00:02:16.500 You know, somebody said once,
00:02:17.680 you never get fired for hiring IBM.
00:02:19.880 The reason why is because IBM software was known,
00:02:23.380 tested true, and if you look at the competitors in the market,
00:02:26.580 they were all typically running on that software.
00:02:28.780 That's what those clients want from you, right?
00:02:31.580 They wanna know that if they make the investment,
00:02:34.120 you're gonna show up, you're gonna deliver,
00:02:36.660 you're gonna make their life better,
00:02:38.120 you're gonna make them look good.
00:02:39.300 People underestimate just the power of thinking about,
00:02:43.140 how can I make my client look good to their boss?
00:02:46.700 If you've never thought that in your software,
00:02:48.980 your service business, even a retail business,
00:02:50.900 whatever business you're in, if you never thought,
00:02:52.300 How do I make my customer look good to the people around them?
00:02:55.480 That's a huge opportunity.
00:02:56.880 So just solving their pain and their problem and presenting your solution in a way that would even be attractive or relevant to that size of company, that's step one.
00:03:06.300 So that was the first thing we changed on their website and their homepage.
00:03:08.940 Number two is you've got to price yourself out of the market.
00:03:11.740 You know, the reason why a lot of these, you know, especially agency entrepreneurs, they're doing these smaller projects is because they're available to buy.
00:03:19.700 You know, I have one of my clients, he does, you know,
00:03:22.360 $200,000 manufacturing type projects,
00:03:25.080 and he does $20 manufacturing type.
00:03:26.700 And I'm just like, why do you do the small stuff?
00:03:29.840 Why not say, look, when people call,
00:03:32.040 we don't do the low end stuff, we only do the high end.
00:03:34.820 A lot of entrepreneurs, especially they've been in the
00:03:36.520 game for 10 plus years, they keep adding stuff
00:03:39.420 to what they do.
00:03:40.260 They're like, they say yes to a customer, you know?
00:03:41.980 They might focus on this area, and then the customer's like,
00:03:44.660 well, could you do this?
00:03:45.460 And they're like, all right, we'll do that.
00:03:46.800 And they keep adding bolt-ons, and they've never actually
00:03:49.360 evaluate the product suite, the mix of stuff they offer,
00:03:52.120 and say, you know what, we don't do this great,
00:03:54.900 and I know customers pay us for it,
00:03:56.600 and I know the margins might be there,
00:03:58.140 but I don't wanna do this anymore.
00:03:59.900 And I think that just pricing yourself
00:04:02.100 out of those smaller clients is the number one thing
00:04:05.840 to actually get you serious and attracting the bigger clients.
00:04:09.820 So just the price point of saying this entrepreneur,
00:04:12.120 hey, you're at $50 a month, you gotta go to $500.
00:04:14.760 What's the difference from an experience point of view
00:04:16.620 if I'm a company and I go to that website
00:04:18.620 and I see that they have a $500 where they start
00:04:21.380 versus they start at 50, if I think they start at 50,
00:04:23.620 I'm like, well this is a toy, this isn't serious,
00:04:26.140 this isn't enterprise, it's not for me.
00:04:28.440 Just on their price.
00:04:30.560 Are you doing that with your customers?
00:04:32.720 Right, are you turning them away?
00:04:34.340 The ones that you want because of the way
00:04:35.900 you're pricing your service or offering?
00:04:38.340 The third area that I think you just totally need to nail
00:04:40.820 is you gotta communicate to a bigger customer.
00:04:42.940 You need to change the way the messaging.
00:04:44.820 I mean, first thing, I looked at this website, this page,
00:04:46.980 And I was like, well, you say that you help small businesses
00:04:50.420 create X, Y, and Z.
00:04:52.660 They're like, yeah.
00:04:53.480 And I go, and who do you want as a customer?
00:04:55.320 They're like, well, bigger enterprises.
00:04:57.660 All right, give me examples of some of the names
00:04:59.900 of those kind of companies that you'd love to work with.
00:05:01.620 And they gave me their names and I looked at them and I go,
00:05:03.940 do you think they consider themselves small businesses?
00:05:08.000 No? All right.
00:05:09.160 Why are you using that language on your website?
00:05:10.940 Where else? Look at your page.
00:05:12.200 Look at the copy. Think about it.
00:05:13.740 Most people's website's the first contact or interaction
00:05:16.640 with a company.
00:05:17.680 They might hear about you somewhere else,
00:05:19.340 but then they're gonna go check out your website.
00:05:21.080 And when they're on that page, they're gonna say,
00:05:23.480 is this for me?
00:05:24.980 Are people like me, my kind of company, buying this service?
00:05:28.480 So the logos, the language, the colour scheme,
00:05:31.320 all those things communicate a certain message.
00:05:33.960 And if you want bigger customers,
00:05:35.400 you gotta communicate a bigger offering, right?
00:05:38.700 The price matters, the problem and pain
00:05:41.000 and the solution needs to be there,
00:05:42.600 but at the end of the day,
00:05:44.040 the communication needs to be on par.
00:05:46.640 So one, solve the bigger customer's pain, okay?
00:05:50.820 Two, make sure that you price yourself out of the low end
00:05:54.580 and into the higher end market.
00:05:55.980 And then three, communicate in a bigger way.
00:05:58.260 What I wanna hear from you below in the comments is,
00:06:01.020 what strategy are you gonna implement to go up one level?
00:06:03.600 If you just decided today, you know what,
00:06:06.100 I wanna grow my business by 30%,
00:06:08.600 so what's the next kind of customer segment type of business?
00:06:13.600 consumer whatever that I want to go into to grow my business.
00:06:17.680 What is your decision today below to make over the next four
00:06:20.680 weeks? What is that action item that you're committing to right
00:06:23.880 now after watching this video?
00:06:25.220 Leave a comment below and as for usual I want to challenge you
00:06:27.980 to live a bigger life and a bigger business and I'll see you
00:06:30.580 next Monday.
00:06:31.580 If you like this video be sure to subscribe to my channel.
00:06:33.980 I'd also encourage you to join my newsletter where I share
00:06:36.880 exclusive invites to events and other free training videos and
00:06:40.220 if you want to get more content right now I've got two playlists
00:06:42.820 queued up for you.
00:06:43.820 I will see you next week.