Does this sound familiar?
You meet one potential prospect and spend your precious time chatting with this person and sending useful emails to the person.
Finally, this prospect is ready to talk business! You are excited that she is ready to start working with you.
But, when you start presenting your pricing, here is what you hear.
“I don’t have the budget for this right now.”
“I am just starting my business and just have no budget for this.”
“Let me think it over.”
So, now, you are faced with 2 options.
- Either you decide to work with this prospect and charge very little for the service. (This means that you will be working long hours for very little money.)
- Or you decide not to work with her anymore. Forget about all the time wasted on this prospect and start to hunt for other prospects again.
Here is the brutal truth about working with the wrong prospects…
It is costly and time-consuming.
Also, it can be very demotivating.
When you spend hours speaking with prospects, understanding their pains and building trust, it can be disappointing realizing that these prospects either have no need to work with you or no budget to pay for your service.
Here is another scary consequence of working with the wrong prospects…
It may make you doubt the future of your business.
But, maybe your business is just fine. The problem is that you have been selling your service to the wrong clients.
Here is the first step,
Step 1: Knowing who to target.
The first mistake many entrepreneurs face is not having a clear target market.
When selling to high-paying clients, it is important to have a very clear idea of your clients’ unique needs, pains and priorities.
To know these, having a laser-focused target market is the first step.
So, how do you find a perfect target market? How do you find a group of people who need to buy from you and are ready to buy from you?
- Find the prospects who have the urgent needs to buy from you. Simply put, you are more likely to convince someone to buy from you as long as there is important and urgent pains that you can solve. Think about your personal experience. We all know that we need to stay fit and do exercise. But, you would be a lot more motivated to exercise if you are experiencing certain physical pain. Click here to know how to find the group of people that have the urgent need to buy from you.
- Find the group of prospects who are closest to you. Most of us already have years of experience working. Over the years, we have developed friendship and connections with our business partners, associates or past clients. It is possible we forgot we have been sitting on a pile of gold. So, don’t forget to do your network checkup too and you might just find out that you are very close to your ideal, high-paying clients.
Step 2: Crafting the right message or offer.
Once you have identified your ideal target client, create a Client-Centric sales message to attract your ideal clients.
Not only will your message attract your ideal clients, but it will also stop those unqualified prospecting entering into your pipeline.
When I was a financial advisor targeting founders of the medium-size company, I focused on offering estate planning service and crafted my entire marketing materials based on estate planning.
Naturally, I attracted prospects who cared about estate planning and avoid small clients who did not have any needs for estate planning.
I was able to book meetings with founders with over $5 million of financial assets simply because I had a very focused message that addresses their urgent challenge.
So, how do we create the right message or offer? Focus on your prospects’ needs. Your clients only care about how you can help solving their problems.
So, do a quick research on your prospective clients and craft a message that focuses on them and how you can solve their problems.
Click here if you want to know more about how to craft a client-centric sales message.
Step 3: Finding the right prospecting strategy
When it comes to selling to high-paying prospects, many entrepreneurs have the challenge of getting in front of these hard-to-reach prospects.
Think of networking locally or socializing online…
Often, you only see smaller clients… or maybe worse, your competitors.
Want to know the truth?
Your big prospects tend to be very busy and are constantly sold to. As a result, they might not be as easy to get as the smaller clients tend to be.
Wait… don’t get discouraged.
If you can find a winning strategy, you might face less competition.
If you know how to get in front of your big prospects, you will be one of few people who can do that.
Voila, that’s it.
In 3 steps, you will start to attract more qualified prospects to your business. Once you attract the right prospects, you can close your sales faster and easier.
Because you know that these people have the urgent needs for your service and are ready to pay for your service.
Sales is inevitable.
So, which step would you like to start first? Let me know!
To your big success,
P.s. Are you determined to start filling your business with the right prospects and convert them to actual clients? Click here to know more about how to identify the right target market.