← Grow Your Local Business
Grow Your Local Business
MVP: The Real Reason Your Services Are Worth It -- And Why Your Local People Will Buy
00:16:03
Loading summary
Transcript1 lines
- [00:02]
Leslie Pressnell
You are listening to the Grow youw Local Business podcast, where local marketing expert and life coach Leslie Pressnell shares the strategies and the mindset to help you reach more people in your city and bring in a steady stream of clients. All right, let's dive in. Hey, welcome to episode 56. Today we're going to talk about the real reason that your services are worth what you charge. Because I think there's a little confusion there sometimes when either you are pricing yourself or whenever you're even just promoting yourself. And I know how frustrating it can be when people are telling you things are too expensive or that they can't afford that or they're going to go with a cheaper option. So I wanted to talk about the real true reason people buy stuff today, the real reason they are willing to pay certain prices for things, and the real reason that you charge what you charge. And I was thinking about this recently because I saw a post circulating on Facebook by a business owner who was talking about why their people, their clients, should be willing to pay them a certain amount or basically explaining why their services weren't cheap. And I've definitely seen similar posts to this about why local small businesses may cost more come compared to other people or bigger businesses. I'm going to tell you exactly what this post said specifically. But what I really noticed when I was reading the post is that everyone in the comments, other business owners, were agreeing with this person, like I can't afford to lower my prices or people should shouldn't just expect discounted prices from us or these are all the reasons my prices are higher and yada yada. And the vibe I got was it was very like us against them mentality. Like it was like small business owners versus the people. And what was so interesting to me is whenever I read the post I just had totally different thoughts. I thought a lot of things that were actually empowering and would serve me to take action and therefore get more clients who would want to pay me versus a lot of the frustration and resentment that I was seeing in the comments. And that frustration and resentment was coming from people not really understanding why business owners charge what they do or why people aren't willing to pay more to work with local businesses. So I just wanted to share my thoughts with you today because like I said, I immediately noticed that I had totally different thoughts from every other business owner commenting on the post and a totally different perspective from the original post creator. And I think what I'm going to share can be a game changer in how you talk about what you do so that your clients see the value in what you do. And they're also like, oh yeah, this is totally worth that. So the Facebook post that I saw was published originally by a photographer, and I don't know this photographer. It was just something that had been reshared a couple times, so it ended up on my Facebook feed and that's how I saw it. But the photographer in the post was talking about how they had seen in a Facebook group someone locally asking for a cheap photographer. I'm putting cheap in quotes because that's what the photographer said was said somebody looking for a cheap photographer. The photographer then went on to write this post. In response to that, the photographer broke down why they didn't charge lower prices and why they did charge what they charge and why it was worth it or why it was more expensive. They said their prices were priced at what they were because they had spent so much money in their business on things like equipment and trainings and even gas to get to the photo shoots, and they had spent a lot of time over the years learning their craft and they had to spend a lot of time editing the photos, etc. So it was this whole list of things that the photographer had either spent money on or had spent time doing. And that's why the price was priced what it was. But here's what I want to offer. Your local clients don't actually care how much time or money you spend in your business. And I don't want that to sound harsh. I'm saying it from love because this shift in thinking can be a game changer for you. Your clients don't care about your expenses. They don't care how much your equipment costs. They don't care how much money you've invested to learn and get better. They don't care how much your rent is every month. They don't care about how much time you spend working in your business every day or every week. They only care about one thing, the result or the thing that you're offering them. That is it, like how much time or money you spend so you could offer that thing means nothing to the client. And that isn't going to be why they buy or that isn't going to be why they think something is worth so much more. Imagine if I added up all my podcast recording equipment, my cameras that I've bought to record my course, like how much it cost me to host my my program every month, and the six figures I've invested in my own coaching and mentorship and education over the years. And imagine if I priced myself on that. You guys would be like, I don't care. Like, I don't care how much you've spent or how many years you've been crafting this. Like, I just care if you can help me get more local clients or not. Like, that's the only thing you are basing your decision off of. So I sell a $2,000 lifetime program. So the only thing that you're thinking is, how much more money am I going to make after spending that money with her? You're only thinking about your return on investment, which is totally normal. You're like, okay, I'm going to spend $2,000 in this program, and I'm going to make this much this year, then this much next year, and then this much. And this is going to be the compound effect of this $2,000 investment. You're only thinking about the result that's possible for you. That's the only reason that you're willing to invest with me or anyone, because you want the result that I offer you. The result I sell you of growing your local business, making more money, bringing in more clients. That result is what makes you say, oh, my God, $2,000 is totally worth it, or, yeah, $2,000 is a lot of money, but I also know I'm going to make a lot of money. You're not thinking, yeah, well, $2,000 is worth it, because, you know, Leslie's spent all that money and all that time, like, Right. I was thinking of another example of this. Imagine if I went to Target to get toothpaste, and toothpaste is what, like, five bucks? And that's all I'm planning to spend, if that's even really possible. I don't. I don't know if you can just go to Target for toothpaste, but we're going to pretend like that is our plan. So I'm going to be in and out of Target to get exactly what I need, and that is toothpaste. I'm not going to be thinking, oh, you know what? I should probably spend more. I know it probably costs Target a lot to keep the lights on and to pay all these employees. I know they spend a lot on advertising, so I should probably spend more here. That never crosses my mind. I just want the toothpaste. Or I'm not thinking, like, Colgate or Crest or toothpaste brands and thinking, man, like, I should probably spend more on this tube of toothpaste. Because all the research, they've spent money on making their toothpaste over the years or all the materials and the equipment and the shipping, like I should pay more. No, I'm only thinking that I want clean teeth. Like that is the result. And what's actually really interesting in this example, if I think about wanting clean teeth and the long term value of taking care of my teeth like something I'm going to have in my mouth for the rest of my life, I naturally sell myself on being willing to pay more for toothpaste if I had to. Because the return on investment of toothpaste is a lifetime of healthy teeth, something I use every day. The lifetime of having a nice smile, a lifetime of not being in pain or struggling because my teeth are infected or whatever. Now if you think about that, the value of that, the value of toothpaste actually just went way up for me because it's about me. And the result in the long term return on investment of toothpaste, not because of what it costs the company to make it. As consumers, we think about ourselves and we think about what's in it for us and the value we're going to get out of something. Then we decide if it's worth it to us or not. So when you're pricing yourself or making offers or you're on a consult talking to potential clients, the value of what you do is always about the result that they're going to get. The value of what you do is not based on your own time or money that you've put into it. The time and money you've put into getting really good at what you do just makes your result even better for your client. But they're paying for the result. They're not paying you a certain price because of your expenses and time. So in your marketing and in your messaging, in your social media post, you always want to be thinking about what is the value of this for them? What results are they getting? What is the return on investment of that? So for toothpaste, the return on investment is clean, healthy teeth for years to come. And back to my photographer example, they're not paying you for all the equipment and time. They're paying you for the result of beautiful photos and memories that are going to last them forever. I once had a student inside the local Preneur Academy tell me that before she joined my program, she had added up how many modules were in the program and then she divided that number by 2000 to see how much each module cost. Then she was laughing about it when she told me because she realized she wasn't paying for the modules or she wasn't paying for the coaching calls or for the trainings or for the workbooks. She was paying for the result of more clients. She was paying for the confidence and ease that she now has when she's marketing herself or posting on social media or creating content. She now can see the lifetime return on that investment and how that will just keep compounding over and over again. You know, she spent 2,000 with me and now she's learned how to make 2,000 over and over and faster and faster. So I love catching up with my clients year after year or even after being, you know, a year or two into the program. And it's like, okay, they spent $2,000 with me and now they've 10x that, they've 20x that they 50x that they 100x that. And it just gets to keep getting bigger and bigger because of that one investment they spent. So the value of spending $2,000 on coaching or the local preneur academy is the lifetime of making more and more money over and over again. So what is it for you in your business? What is the actual value of what you sell? What is the real return on their investment? And that return may not be money. It may be an emotion. It may be happiness, confidence, ease, peace, less stress, health, energy, beauty, less pain. And then think of the lifetime value of that. That is what you're selling, people. That is why your pricing is what it is. That's the real reason your services are worth it. And that's what I want you to be talking about over and over with your audience. And I know just the word value gets people all caught up when we're thinking about writing or explaining the value of what you do. So here's what I want you to know. It is normal to struggle with different ways to verbalize the value of what you do and to explain the value in your emails or marketing. What I see a lot of times is people come up with one or two ways to talk about it, and that's kind of where they get stuck. So they struggle to continue to convey that the value so that their clients see it as being worth it. Or they struggle coming up with different ways to show that they're valuable or like they just feel like they're saying that same thing over and over again and it's not working. And I want you to know there is a solution. I can teach you very simply how to talk about the value of what you do and how to come up with endless amounts of ways to talk about it the very first module when you join the LocalPreneur Academy is all about you becoming that local go to person and how to set yourself apart and show the value of what you do in a really clear, simple way. I help you come up with 30 ways immediately to talk about why what you do is valuable and why people will want to work with you based on the results or what you provide them with. Then I give you a simple formula to take these ideas and create social media captions from all the ideas. It's the very first thing you do when you come into the program and I put it first because being able to explain clearly what you do and getting people to see for themselves why it's totally worth it is one of the most important things that you could be working on that's going to have the biggest impact in how much money you make, how many sales you're making and how many people are reaching out to you. That's what's going to have the biggest impact is you being able to simply and clearly convert convey the value of what you do. You will develop the skill to explain what you do and have other people sell themselves on why it's so worth it. So come join us inside the LocalPreneur Academy. This is always one of the most transformational things for my clients and it gets you making more money immediately. So come join us. Don't wait. Now's the time to get started on this. Click the link in the show notes to join us and I'll see you inside. Hey. If you enjoyed today's episode, I want to invite you to check out my program, the Local Preneur Bootcamp. This is my coaching program for business owners who are ready to become the local go to in their industry with a steady stream of clients. You can find more information at lesliepressonal. Com and I'll see you inside.