There are three types of clients in every business.
The first are the tourists who can use up all your time answering their questions but they will never buy.
The second are the one-time buyers who will get your cheapest product or service and then never show up again. They might even complain or send the item back. They will never be happy.
The third type of client is the repeat business. The client who buys your product, loves what you do and wants to spend more.
These are the dream clients that are worth courting. Research has found that attracting a new client costs 5 to 10 times what it costs to sell to an existing client, providing, of course, that they are type three!
Creating a package of products or services for your existing clients is a great way to encourage repeat customers and get more time and profits for your effort. Fill these packages up with value and savings to your client (at little cost to yourself!) and you have a happy client while maximizing profit.
In this post I am going to take you through the step by step process of creating a package for your existing clients to get more time and profits.
How To Package Your Services for More Time and Profits
Brainstorming your package
What do you put in your package? Well, your package should locate the clients’ struggle or pain point and then provide the solution.
Hopefully, as they are your client, you have a good idea already of what they are struggling with and you have already helped them solve part of that issue.
If you aren’t sure then turn to your email conversations. What has been the topic of conversation? What kind of questions are they asking you?
If you haven’t been communicating regularly, then how about asking them direct? Ask them if there is anything else they are finding challenging with their copywriting / sales funnels / web design / social media ads (change as appropriate to the service you offer) and if there is something you can do to help.
You can also check your blog and your social media channels. These should be getting comments and questions — pain points from clients or potential clients.
Make a big list of everything you have found, this is the research & brainstorming so don’t limit yourself at this stage. Go crazy!
Choosing Which Pain Point To Solve
Ideally your package should be something that provides a ton of value but doesn’t take up lots of your time to provide. The goal is for you to have more time and profits. For example, offering a Strategy Call with a PDF worksheet printable is much better than committing to spending 5 hours physically executing the solution. For execution, maybe you could give them a strategy & make it really easy for your client to hand over the work to their virtual assistant.
Look through the pain points you have already identified in your brainstorming session and start to jot down some ideas about how you could solve their issue. And then note how long you think the solution is going to take to deliver.
Any solution which can be provided in an ebook, video or audio file goes to the top of the pile! You can deliver as many of those as you like without it affecting the number of hours you have to work in or on your business. Remember, the goal is to have more time and profits, not just more profit and a ton more work!
Second, think about how important this pain point really is for your client. Is it a nice to have or something which they fundamentally need to fix. You will always find it easier to sell something which is going to have an immediate boost on your client’s business as opposed to a luxury item they don’t really need.
Detailing Out Your Package
Once you have picked which pain point you are going to solve, and have started to think about a solution – it’s time to build your package! As with anything, simplicity is key here. Do not overcomplicate it just so it seems like you are adding more value. Your client wants the quickest, easiest way to solve their problem.
As a subject matter expert, what would you tell them to do if you only had 5 minutes with them? This is your solution.
And once you have it, you now need to think about how you are going to deliver it. Does it need to be a private call, a group call, a PDF, an ebook, a video or even an audio? There are so many ways to deliver your solution. Choose one that creates more time and profits for your business while serving your customer at the same time.
To make this decision think about several factors.
- What is the easiest medium for your client to have & execute your solution?
- What do you enjoy producing, what medium do you serve best in?
- How many hours will it take to deliver the solution to each client?
Pricing Your Package
Pricing is fundamental! And yet it’s something that I see so many first time entrepreneurs struggle with. It’s all about balance here. You want to price it high enough that your client sees the value your solution is providing, but low enough so that they don’t have barriers to purchase & can afford it!
A good place to start is to think about how much your client could potentially make in their business after implementing your solution.
If for example, your solution will bring them in 400 new leads & they convert 20 of those into paying customers at $120 per month. Then your solution has made them an extra $28,000 in a 12 month period. So, it might be worth $1000 or even $1,500.
If, your solution helps your client to increase their website conversion 1% by making some small changes to their sales page, this could bring in several thousand in sales, depending on what their current sales volumes are and the average order value of their shopping cart.
You know your client’s business (or at least I hope you do!), so price your package according to the value it provides.
Selling Your Package
When it comes to selling. Be very specific, how is your package going to solve your client’s pain. State tangible results, don’t be wishy washy.
If you can give actual market statistics or even case study statistics do so. The clearer you can explain the benefits the easier it is for your client to say yes.
As you are selling to your current clients, you don’t need a big launch plan. Just fit it naturally into some email communication you are already having and see what they think.
And if it’s a no. Then ask them the reason, and what you can do to solve this issue for them. Don’t be afraid to ask!
I really hope this has inspired you to create a package for you existing clients that gives you more time and profits. It is a great way to boost profit in your business.