A marketing consultant was complaining in a Facebook group that everyone wanted her to work for free. She was marketing comprehensive brand strategy packages for $10K.
Fellow freelancers responded to her post telling her to know her worth and stick to her pricing structure. I had a different thought.
If there is a $10K discrepancy between what you’re offering and what your prospects are willing to pay, you’re going after the wrong prospects. You need to find the right clients.
If you’re offering $10K brand strategy packages to solopreneurs and people who want a logo for their side hustle, you’re going to do a lot of fruitless pitching. The vast majority of these individuals would not invest $10K/year into their business in total, let alone into one aspect of it.
So, the problem here is not the freebie-loving prospects, it is the marketing strategy itself. Either the freelancer has misidentified their ideal customer or their prospecting efforts are inadvertently attracting the wrong clients.
This individual has one of two choices:
- Develop a lower cost package with fewer outputs and continue pitching to smaller prospects; OR
- Revise their ideal customer profile and think through the proper strategies for reaching this customer. You must show up differently for someone investing $10K in a brand strategy – they are much more likely to be found via a mastermind or a speaking engagement than social media, for example. The relationship lead time will also be longer and the way that you present yourself and your offer will be very different.
Unless your rate is completely unreasonable, prospects who continually second guess it are the wrong prospects. Regardless of your specialty, it’s possible to find clients at a variety of price points. However, you have to be using the right strategy to find the right client. If you are constantly being second guessed about your rates, the odds are that your offer is not aligned with your sales strategy.
To make a $10K brand strategy package work, the freelancer in question will likely have to find the right clients by going after larger businesses in fields where a differentiated brand is critical. Taking time to do the homework and identify the right client will pay off in the long run with prospects who turn into paying customers, not people wheedling you to do work for free.
Want my easy guide to attracting the right clients? Click here.