Dan Martell - April 10, 2017


How To Attract Bigger & Better Customers


Episode Stats


Length

6 minutes

Words per minute

207.055

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).
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.