WHY YOU NEED TO KEEP IT SIMPLE TO CONVERT MORE CLIENTS AS A SOCIAL MEDIA MANAGER
In this series, I'm sharing with you my A-Z guide of pricing tips to help you price your services with confidence and feel more confident charging what you need to support yourself. Here are letters J-L:
J is for ad-Just (adjust)
This question comes up quite a lot with social media managers in my community: “how often should I adjust my prices?”
Your income goal is going to change pretty regularly. Your personal expenses might change and as your business grows, your expenses might change too, especially if you're investing in courses or coaching or you want to start outsourcing some tasks.
As your expenses change, you need to be earning extra money.
I like to look at my prices once a quarter at a minimum. If my expenses have changed, I either adjust my 1:1 prices and offers or talk about The Pricing Academy® more in my marketing.
As a social media manager, you can increase your management rates or look at what bonus income offers you can add to your business to make up the extra income needed.
At a bare minimum, I recommend increasing them at least once a year. Ideally, you want to increase them every six months. That way your client base and the people in your communities get used to those price increases.
And as you become more experienced, as you become more confident in yourself, you recognise how much more valuable your services are. You get to be paid for that value.
K is for Keep it simple
When it comes to your prices, you really need to keep it simple.
If you, like me, suffer from shiny object syndrome, you may get excited to offer a brand new service to your clients all of the time. This means you'll likely be spending a lot of time trying to price the many different packages that you offer instead of focusing on marketing yourself.
Keep things simple. Stick with one price and create a bespoke package for each client. Keep the price the same and based on what your client needs, you can fit their needs into that price. Unless, of course, they require a lot more than your typical package.
That way, you’re able to hit your income goal and your client is getting the value that they deserve in exchange for that amount.
If the client wants a low price, because their budget isn't as high as your monthly fee, then you could always remove some of the value from the package that you're offering to them.
If they want a bit extra compared to what you’ve pitched to them, then you can add in some more value to the package and raise your prices accordingly. Never drop the price and keep the value the same because that just undermines everything that you do and says that really your services aren't worth that much.
Likewise never increase the value and keep the prices the same because it does the same thing. The client wants more, they pay more. Client wants less, you charge less.
Want to get more clients as a social media manager? Get Clients with Confidence™.
L is for Loving what you do
If you love what you do, you're going to show up feeling confident, feeling happy, feeling excited, and ready to get your clients amazing results. This is why it's so important not to say yes to anything you don't want to do.
So if a client wants you to drop your prices, and you don't want to do it, don't say yes. If a client wants you to manage Twitter, and you hate managing Twitter, don't do it. If a client asks you to take on extra work without being paid, and that doesn't sit well with you, don't do it.
You have to be head over heels in love with what you’re doing because then it’s going to be easier for you to charge high prices, it’s going to be easier for you to ask for the sale and it’s going to be easier for you to show up and give your all to your clients and therefore you're going to get better results for them.
Make sure that anytime you fall out of love with what you're doing, you spend some time asking yourself what is going on here? Why am I not enjoying this anymore? What can I do to fall back in love with my business?
And it may be that you’re fed up with managing a certain platform so you simply remove that from your services.
There’s no shame in falling out of love with your business. But when you do, spend some time to help you fall back in love with it. If that means changing things, change away. We are allowed to change our minds.
Catch the next episode in this series here: Why you should never drop your prices
