February 15, 2017
Answers to “How is X is in your client’s best interest?”
Thanks to everyone who accepted my challenge from yesterday. Namely, to answer the following:
- How is paying 100% up-front is in your client’s best interest?
- How is being the most expensive option is in your client’s best interest?
- How is refusing to negotiate price is in your client’s best interest?
Once I started reviewing the dozens of replies, I realized that I could have been a little more specific with my challenge.
About two thirds of you responded with answers that were technically correct (e.g., “If the client pays me 100% up-front, I can focus on the job instead of administrative BS”, etc) but were a little more “me” focused than I was looking for.
About a third of you nailed what I was really going for, which was position these tactics in a way that persuades the client (and maybe you, too) that they’re in the client’s best interest.
At a high level, the benefits of these three tactics are:
- They all force the prospect to focus on value
- They all repel prospects who have the wrong mindset
- They all increase the perceived value by building trust
- 100% Up-Front—Increases customer satisfaction because the need for sign-off is removed. Decreases likelihood of the project getting killed before completion. Increases client’s commitment to the successful outcome.
- Most Expensive—Enables a very high level of service (since you’re not operating at razor thin margins). Increases peace of mind before, during, and after the project. Increases the client’s perceived value, which increases ROI. Increases pride of ownership after the project.
- Refusing To Negotiate Price—Increases confidence in perceived value. Decreases likelihood of micromanagement during the project. Keeps relationship at the partner level, instead of a more “employer/employee” level, which increases trust.