How To Attract Premium Clients-Three Steps To Converting Premium Clients
- Why Premium Clients Are Important
- Your Business Needs Premium Clients to Grow
- The Formula
The Value of Premium Clients
How many premium clients do you have in your business?
I define a premium client as someone who can pay you $10,000 or more for your premium products or services.
If you don’t have at least one premium client, I recommend restructuring your business, getting a business coach, or getting a new business.
Your business CANNOT GROW without premium clients.
There are 3 HUGE benefits to having premium clients:
- More Money
- More Time
- Less Effort
If you’re selling a $100 product, and you talk to a hundred people with a 50% conversion rate, then 50 out of a hundred people are saying yes.
That’s $5,000 a month – not bad, eh?
Think about this…
What if two out of a hundred people said yes to a $10,000 premium product? That’s only 2% conversion, but you’re making $20,000 a month as opposed to $5000 – a hundred dollar sale versus a $10,000 sale.
In both cases you’ve talked to 100 people. Premium clients are, for the same amount of effort, much more valuable.
So where do you find those premium clients?
Related Article: Do You Have An Irresistible Offer for Your Business?
Related Article: What Is a Sales Funnel?
What if some of those 100 prospects have the potential of being premium clients? Why are you leaving money on the table? Find out which of those clients can afford and want to benefit from being converted to a premium client.
Are you a natural negotiator? If not check out these 5 negotiation tactics that will make you money.
Text “INTAKE” to (415) 980-3555 https://marketingonline.com/intake Alex Mandossian goes over 5 negotiation tactics that will make you money. He defines what negotiation is and how to leverage it. He even shares what it means to be an entrepreneur and why you need the skill of negotiation.
Step One: Qualify
The first step to turning any prospect into a premium client is qualifying them.
Do they have the potential of being a premium client?
Many people aren’t qualified, some people are, and some people don’t know that they are.
You need to sort through the people that come through your funnel to find out.
(You do have a funnel right?)
The way I qualify my prospects is with an intake process that includes an application. First, people fill out an application. It’s like going to a new doctor. You have to give the doctor enough information to diagnose you properly, right?
Step Two: Clarify
If they qualify they move onto step two where you find out what their goals are and manage their expectations.
In this step, they’ll explore the COI or Cost Of Inaction.
For example, if your prospect makes $5,000 a month and they want to make $10,000 a month, they’re losing $5,000 a month by not making the changes they need to make in order to meet that goal.
Their Cost Of Inaction is $5000 a month.
That’s $60,000 a year in lost revenue because they don’t know the steps (or are too afraid to take them) to grow their business.
Wouldn’t you be willing to pay $12,000 to get there?
$12k to get to $120k?
I cannot guarantee that you will have a return on investment but I can provide the grid of electricity. You have to flip the switch and turn that grid on. I can show you the path, you have to walk it.
So this step is about exploring your prospect’s COI and letting them know there is a point B, you’re giving them hope that they can achieve their goals.
Step Three: Verify
This step is about giving them confidence.
You show them specifically how to get from point A to point B.
In this step you explore strategy and the premium products you have for increasing their wealth and company valuation. And you help them decide on the right package and product.
All three of these steps can be done in 45 minutes or they can take a series of interviews and meetings.
The bottom line is your business needs premium clients. If you don’t have premium clients you’re not growing your business properly,
But there is a process involved in acquiring and maintaining premium clients.
They have to be right for you just as much as you have to be right for them. So find out how many of your current prospects qualify to be premium clients with you.