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Shiny New Clients!
Define & Price Your Signature Offer (with Business Strategist, Stacey Brass-Russel)
00:20:27
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- [00:01]
Jenna Warner
Welcome to Shiny New Clients, the marketing podcast that helps you attract shiny new clients to your business. We'll talk about social media, what makes people buy, how to go viral, and marketing psychology all in 20 minutes or less. Whether you're a coach, a stylist, or a wedding planner, if you've got a service based business to sell, this is the show you need to fill your calendar. I'm Jenna Warner, your new marketing coach and this is Shiny New New Clients. Hi, it's me, a marketing girly. The girly who helps you get eyeballs on the thing that you are selling. So when folks come to me, they have an offer that is ready to go. You've got something that you've been doing that you are selling. But what if you don't know what your offer is yet? What if you're having a hard time filling that out, finding out what to charge for it, finding out what your people actually need from you. People come to me when they already have their offers made. So today I brought someone to you to help you define and if you already have your offer, fine tune what it is that you are selling to your people. So may I introduce Stacy Brass Russell, a transformational business strategist and master mindset coach. Oh, hi, Stacy.
- [01:24]
Stacy Brass Russell
Hi, Jenna. Thank you so much for having me.
- [01:27]
Jenna Warner
I'm so glad to have you here. I know that your brilliant brain is going to just drop so many aha moments on us and the people who need to hear it. Can we start with like, let's break down the language? Like, let's be super accessible here. What the heck do we even mean by offer?
- [01:40]
Stacy Brass Russell
Yeah, so I think of offers and I agree, I think the word offer is confusing because I actually think we have multiple kinds of offers. We have free offers and paid offers. And I think that sometimes, like I use offer to talk about, like, what's your lead magnet? Or what's even like your workshop or your masterclass? Like, those are offers also, Right? But then what we often really think of as our offer is what we get paid for, right? Like what do, what are people actually going to buy from us? And so it is good to think about our offers kind of are all of the things that we put out into the world that we want people to say yes to. Right? So our lead magnet, we want people to say yes to that, but they're downloading it. When we do a workshop or an event or a masterclass, we want people to say yes to that. And sometimes those maybe be a low cost ticket, but usually I like to teach people to do those for free. So you can get people in a room with you and then really make them your offer, which is what you want ultimately, people to pay you for, which, you know, I think in the beginning is your high ticket offer.
- [02:46]
Jenna Warner
So we've got maybe an ecosystem of things that we give away and things that we sell. But a lot of business coaches and business strategists will talk about having one main offer, which then I think really freaks people out. So. And everyone's different on this and every strategy is going to be different. But where do you stand on having one main offer with an ecosystem of smaller things that lead to it, which is like, I think what you just described is that kind of the right idea.
- [03:14]
Stacy Brass Russell
That is exactly what I just described. And I do stand firm on that. You should have one signature offer. I call it like one main offer, which is the offer that you really start your business with. And I really do teach that you should be able to get people into that offer. Right. And that your business should start to feel like you know how to attract the right clients, you know that people want what you're offering, you have people paying you. And then if you want to start adding in other paid offers, like many of the people I work with like to have a group program. And I always explain to them it's very hard to start a business off with a group program because just, just think about it, a group program, you need many people to say yes to paying you for something at once. So it's much easier to start your business where you've got a one to one offer service, whatever you want to call it, and you want to get one person at a time into that offer and start to really build your momentum that way. And that also validates your offer. Right. And then we'll talk more about what, what your offer really is. But you need to get those people in there working with you first in that core signature offer. And then all the other stuff that you create in your business, assuming it's in alignment with your niche and who your ideal client is. It's like satellites of that offer.
- [04:36]
Jenna Warner
Okay, so when I was first creating my business as a social media manager, my main offer was retainer services. So I would run people's social media and then occasionally I might teach a workshop, teach a class, or for a while there I sold Instagram audits and they would just be one offs. So I have all these other smaller things or maybe give away a freebie like you said. But my main offer was social Media management. Now, where I went wrong, I don't, well, I don't love to say wrong because we gotta, we gotta learn and start somewhere. But instead, like I'm calling it my main offer right now. But really at the time I was giving everybody a different version of the same thing. One person I might run their ads, another person, I might also handle their stories. Another person, I might do their daily engagement. So it kind of looked like I was doing the same thing for everyone, but it was really actually super mixed up and everybody had a, a slightly different offer. And then I learned a few years into my business what a detriment that was to me. And I actually had no idea obviously, when I built it that way.
- [05:41]
Stacy Brass Russell
Yeah, yeah. So that can definitely. Cause that's actually not one offer. You just described that you actually really had less. Right. And so, so I think this will help a lot. I like to say that your signature offer, your, your main offer, or any offer has three parts, right? Every single offer is made up of three parts. The first part is the transformation or the results or the outcome. That's the main thing. The first part of your offer is like, what do you do? What kind of an expert are you? And when someone pays you to work with you, what is it that you're really doing with them? Like, what is it that you're really helping them to get? So what are the outcomes of that main offer? Someone comes to me and for the most part, if it's my ideal client, what they want from me is pretty much in the realm of what I offer as my expertise. Right. When you do a done for you service, I think it's a little bit different because there are sort of deliverables that you're offering. It's not really necessarily that you're coaching somebody to get an outcome, that they have to sort of experience some sort of transformation on their own. Right? But still you're basically saying, hey, this is my zone of genius and if you work with me, if you invest with me, this is what's going to happen for you on the other end, right? If you're doing it done for you, something about that first part of the offer is how you tell the other person what's going to happen for them when they invest with you. The second part of your offer is what I call the container or the logistics, right? That's the details of how you deliver that outcome to your ideal client. And I think that a lot of people when they're first creating their offers, they get really confused about this Part because they think that their offer is actually, well, my program is 12 weeks, and we meet once a week, and you get 12 sessions, and I have some worksheets for you, and I have templates and checklists. And I'm going to teach you this and teach you that. I consider those things to be the logistics or the details. Those are the sort of, like, the ways that you're going to deliver this transformation. Like, how is the transformation going to be experienced? And then the third part of your offer is the investment. And I think it's really important to think of your offer in these three separate ways so that you don't confuse yourself and start thinking that what people are really paying you for, and this is a big one, especially for service providers, is that you're exchanging time for money. So when you think that your offer is a session or a number of sessions, and that's how you're calculating the price, for example, of your offer, you're going to cause yourself a lot of problems. One problem is going to be that you're allowing the other person to calculate the value of your offer by dividing it up by how many sessions they're going to get or whatever. And right away you put yourself in a hole where you're never going to be able to raise your investment or really charge. What you really feel is what you need to get paid in order to show up for your client, what I call a thousand percent. Right? You basically give somebody else a way to create objections in their mind to your investment because they're like, oh, well, if I divide that investment up by 12 sessions, that means you're getting paid $400 an hour. That sounds a little bit too much, you know, like, and you don't want to do that. When you think about your offer, the first thing you think about is, what am I really helping my clients to get? What am I really helping them to achieve? What outcomes do they really want? Who do they want to become, what they want to be experiencing in their lives by working with me or by investing in with me. That's the main part of your offer. And then how you think the offer can be best delivered. What is your client going to need to get the best outcomes? And what are you going to need to do in terms of delivery to give them the best support? And then what do you feel you need to charge in order to give all of that to your client and show up for them and feel like you're, what I like to say, delivering an exceptional service.
- [10:00]
Jenna Warner
I feel like, grab a Pen rewind. Listen to that again and answer those questions. It's like a worksheet. It's an oral worksheet. I just want to emphasize one point by giving a little bit of a rant of something that annoys me. This just happened to me last week, and it. But it just made me think about it. So have you ever had people reach out and they'd just be like, how much does he cost? How much you're offered?
- [10:22]
Stacy Brass Russell
Right, yeah.
- [10:23]
Jenna Warner
Right. So it's so frustrating. And people then will say, oh, well, you don't want to say it because you're, like, hiding how much it costs. You want to trap people before you say it. I'm like, no, it's not. You can see how much it costs to work with me on my website. That's not why I don't like saying it. It's because a hundred times out of a hundred times, if the only thing the person knows is the price, it will be a no. They are not going to buy. Even if they come to you and that's what they asked, it is going to be a no because the price.
- [10:52]
Stacy Brass Russell
Isn'T what sells them.
- [10:53]
Jenna Warner
And it will never feel like the right aligned price if they don't know the outcome first, that they're going to get by working with you.
- [11:00]
Stacy Brass Russell
And if they don't get to experience you in any way that that gives them a feeling of connection or resonance and allows them to really hear you and your brilliance, or like when you actually tell them the offer and you tell them how you're going to help them, and they get to hear all the things, whether it's your passion, whether it's your energy, whether it's that they could hear, that you really understand them. There's a million things that happen when somebody gets to understand that the way you work is a way that sounds good to them and that you really can provide them the outcomes they want, then the amount of money that you charge is just gonna sound random. It's just not gonna. It's never gonna mean anything to them.
- [11:43]
Jenna Warner
It's a piece of the puzzle. Okay, I. I'm a really visual learner, so I just want to emphasize this point with this, like, visual that just came to me. Okay, say you want to drink. All right? You know you want to drink like an alcoholic drink, right? You know you want to drink. I shouldn't use that, but whatever. It works with my. My visual thing I have in my head. So you.
- [12:01]
Stacy Brass Russell
Well, I just listened to you talk about hot dogs on another episode, so.
- [12:06]
Jenna Warner
You want this, you want to drink. And there's a door and it says, 16. First reaction. No, that's too much. Right? Like your first reaction is, I don't want. But you know, you want the drink and that price, it's too much because you don't know anything about it. So you open the door and you see, oh, it's a fancy cocktail that like a mixologist has made. And you see it sitting there. There's a door behind it. You open that door and you see, oh, I'm in a lounge. I'm in a lounge with art on the walls and vibe and a music playing. And then there's another door. You open that door and there's this beautiful server who is so kind and fun and is doing like pyro or, wait, what's it called? Flare.
- [12:48]
Stacy Brass Russell
They're like throwing, right?
- [12:51]
Jenna Warner
And then you're like, oh, okay, I would pay more than $16. I'm getting this experience. I'm getting this human connection. I'm getting this high quality product. And now it's. And then. And you're going to sit there and you're going to have a good time and actually you realize you're going to be there for two hours because you're going to sit in this lounge forever. Now suddenly, 16 feels like a really normal price.
- [13:09]
Stacy Brass Russell
Yes. That's such a great analogy, Jenna. Of course, I love it so much. And that's exactly it. That's exactly it. And I think that for people who are, like, in that part of their business where they're mostly focusing on their signature offer, you're going to assume that that offer is a more what we call a higher ticket offer. Right. So you're not selling 27. And even that, I do have to say, because your example is perfect, because people think that everybody just easily jumps into anything that costs, you know, 27 bucks or whatever. And that's not the case. It's not like people just buy anything because it's quote, unquote, cheaper. Even free stuff is hard to get people to, to opt into.
- [13:53]
Jenna Warner
I have another episode on here that's called the Truth about Low Ticket Products. And, and people think that you can make really easy tens of thousands of dollars. And the truth. And I, and I tell you, like, I bear all. I'm just going to plug the ep. I, like, bear all in it and tell you how much I made from a low ticket offer and the mistakes I made. And one of them was thinking that it would sell itself because it's low ticket. That's not the case. And that's why business coaches, like, there's like this joke that they all tell you to just raise your prices. And that's like the first advice a business coach is going to give you. But it's, I mean, it's because, well, there's a lot of reasons. We don't need to deep dive that. But like, you probably could charge more and you're probably undercharging because you thought it would be easier to sell that way and it might even be easier to sell if it cost more.
- [14:37]
Stacy Brass Russell
Well, yes, and Right. So I don't think you should just arbitrarily raise your prices as much as what I'm telling you. What I just broke down about the offer is key. In other words, like the way that you can raise your price if you're not charging.
- [14:51]
Jenna Warner
Right.
- [14:52]
Stacy Brass Russell
Listen, like, I, this is my example. I have an episode too called six figures is just a math problem, right? Because all the coaches out there who are like, six figures, six figures, and you know, they're like, they dangle this as if there's some like, mystery to it. And I'm like, well, it's a fricking math problem. If you charge someone a hundred thousand doll to work with them, you need one client, right? It's just a math problem. But if you charge, let's say $2,000, right, for your coaching or whatever, so Obviously you need 50 people to say yes to that. If you charge $3,000, then you need, you know, I'm like doing Math, you need 33 people pretty much to say yes to that, right? And then so imagine if you were charging $97 and then you need a thousand people to say yes to that. What do you think is your likelihood for where you are in your business with your audience? You think it's going to be easier to get the 30 people to pay you $3,000, or do you think it's going to be easier to get the hundred people to pay you a hundred dollars? Right. So it's all a math problem. But when you have an offer that's a couple of thousand dollars, you want the offer to match that, right? So that transformation or what it is that you're helping someone to get those outcomes need to feel worth it to that person, right. In order to sell high ticket offers, it requires for your client to have two conditions. They have to meet two conditions. They have to first of all have a very strong desire to get those outcomes. Right? Like they have to really want to either solve a big problem or they have something they really want, and they just don't know how to get it on their own. They know that they're going to need help to go from where they are to where they want to be. Right. Whatever that is. And then the second thing that's a condition for, for them to want to buy is that they have to believe that they can get that outcome. So they have to believe that it's possible for them. And they have to believe that you're the person that can help them get it right, that can make it possible. So those are what I call the conditions for transformation. And so you have to convey all of that through your offer. Your offer itself has to, first of all, speak to a really big desire that someone has. And by the way you deliver the offer, the way you talk about it, the way that you make it, whether it's on a discovery call or if you're selling from the stage, I call it, like, from your webinar or whatever. You need for that person to be sitting there feeling like, Stacy Brass, Russell, or Jenna made me feel like this is possible for me. And I really dig her. I feel like she is someone who will help me. And people need to believe both of those things before they're gonna, like, whip out their money for you.
- [17:29]
Jenna Warner
Yeah, a hundred percent. Truth be told, I think that's the secret to my success, is that I make things fun and easy, you know?
- [17:37]
Stacy Brass Russell
Unbelievable. I mean, like, listen, it's why you and I are talking right now, because I. I started following you and I. I was like, wow, this is the first person that ever made me feel like I actually even wanna do Instagram. I mean, I'm on Instagram and I do it, but you made me feel like, oh, maybe I could have more fun with this.
- [17:54]
Jenna Warner
So actually, the first time we talked about it, you were like, you had a lot of, like, pushback. And then the next question was like, so say I'm adding hashtags to post.
- [18:02]
Stacy Brass Russell
I'm like, oh, yeah, yeah. So, you know, there's so much that goes into somebody wanting to make an investment beyond the price. And so a lot of times when people are starting their business also, they. They don't realize why it's hard to get a client. And they start making assumptions that it's that their price is too high or that their offer is too. Like, I work with a lot of coaches, so I use this example a lot. They start feeling like nobod wants to commit. People don't want to commit. They just want, like, two or Three sessions. And I'll say, but you are the expert. Like, you know that you can't get that person what they want in two to three sessions. So you have to start really owning your offer. You have to be able to say to someone if you want X, Y, or Z. I'm just telling you, like, you can't get that from one session. Like, you need more than that. And you have to start really being able to own what your expertise is and the fact that you know how to help people get the outcomes they want, if they knew how to get them, they wouldn't be talking to you.
- [19:06]
Jenna Warner
Stacy, you have shared so much today. I feel like this is gonna be the missing puzzle piece for so many people who need to figure out their offer and are stressed about pricing. And it's clear you really know, like, exactly what to say to these people. You've been doing it for a lot of years. Can you tell me how can people work with you? How can people find you on the Internet?
- [19:27]
Stacy Brass Russell
So I have a podcast. I love directing people there. I think I have a lot of value there, too. Passionate and prosperous. That's the name of my show. Obviously. I'm all over the socials as Stacey Brass Russell. I post mostly on Instagram, Facebook. I'm trying to get better with LinkedIn this year. And I do have a bunch of free resources. Even on a page on my website, there's a resources page. There's one called five steps to creating your irresistible signature offer, so you could go download that. And I also have a new one called how to create your high converting webinar. So two awesome things that I think speak to really how to sell from your webinar. So two things that really speak to this episode today.
- [20:08]
Jenna Warner
Oh, my gosh, those are. I want them.
- [20:10]
Stacy Brass Russell
I'm gonna go get them.
- [20:13]
Jenna Warner
So of course, I will link all of that stuff in the show notes and the podcast episodes that we both mentioned. I'll make sure that those are down there so everyone can just have a field day in the show Notes.
- [20:22]
Stacy Brass Russell
Amazing.
- [20:23]
Jenna Warner
Thank you so much for being here. Stacey Brass.
- [20:25]
Stacy Brass Russell
Russell, thank you so much for having me.