STC069 The steps to take when raising your rates with corporate companies
Have you ever wanted to raise your rates when working with corporate companies but felt worried or anxious about the change? Perhaps you know that you’re undercharging - and you’re even feeling resentful about the amount of work you’re doing vs the amount that you’re being paid but you’re panicking that if you change your rates, you’ll lose clients and revenue? It’s totally normal to feel that way - and it’s something that I hear a lot from clients and community members who’ve started selling to corporate companies and realised that they’re undercharging for their expertise but don’t feel confident to raise their rates just in case they start to lose clients or see a reduction in revenue. This episode shares the exact strategies that I use to change my prices - so that you can learn in real-time how to identify if you need to raise your rates and feel confident about changing them. In this episode, I’m sharing; Why my friends avoided telling me anything about my upcoming hen weekend… (01:09) The conversations we had about pricing at the Converting Corporates event and how they informed this episode. (01:49) The timeframes I usually use to sense-check (and raise!) my prices for B2B and B2C clients. (02:57) Why raising prices with corporate clients feels more ‘normal’. (03:34) Why I felt uncomfortable about raising my prices during the pandemic - and what you can learn from it. (05:58) How I started The C Suite ® in 2019 - and my pricing strategy on launching it. (06:51) Why the popularity contest on social media is stopping entrepreneurs from successfully selling their products and services. (07:24) How we celebrated a client who’d had a £148,000 quarter at our Converting Corporates event this year. (08:45) How other Converting Corporates participants had raised their prices and their revenue since the last event. (09:37) Our launch numbers for the first iteration/ cohort of The C Suite ® in November 2019. (10:48) How the pandemic affected the April 2020 launch - and how we supported our participants to generate quick revenue. (11:52) The incredible entrepreneurs who joined mid-pandemic and how they grew their businesses quickly despite losing corporate contracts overnight. (12:35) How my mindset determined my price point between 2019 and 2022 for The C Suite ® (14:32) The importance of avoiding ‘false urgency’ in my pricing strategy. (15:32) How our focus on results and genuine testimonials supported our pricing strategy. (16:10) The extra levels of support my team offered to our participants during the pandemic so that they could thrive and sell successfully to corporate companies. (17:19) Practicalities behind reassessing (and changing) my pricing. (18:45) The differences and evolution of the live support aspects inside The C Suite ® since 2019. (19:40) The importance of pricing based on all of the practicalities and work you’ll be delivering for corporate companies. (23:02) Assessing the value of the transformation that you’re creating for your corporate clients. (23:55) How creating a results focused product supports the future pricing strategy. (25:20) How generating consistent revenue impacted our clients and their ability to take time out of their business during holiday periods. (26:17) The clear transformations that participants have experienced and how it influences pricing. (27:27) How to start using this pricing process in your own business. (30:51) Addressing why we feel awkward about the pricing conversation with corporate clients. (31:27) Why we don’t judge anyone’s pricing / budgets for learning and development investments at Selling to Corporate. (34:58) And lots more! Key Resources Mentioned in this Episode: Join The C Suite ® now! If you’re looking to get the best support in selling your services to corporate organisations, not to mention hundreds of email templates, swipe files and proposal outlines so that you really can convert at much higher rates and sell your services more successfully then click here to join the waitlist now. Take the Selling to Corporate ® offer quiz and find out what the best offer is that you could sell to corporate. Converting Corporates Bundle: If you’re looking to learn the foundational pieces to successfully sell your services to corporate organisations, grab this fabulous self study programme here! You’ll learn how to; Create your 250K corporate sales plan, set your business development strategy for success, understand and successfully generate qualified leads and hear from real hiring managers on their top tips for pitching to organisations! Book an exploratory chat with me! I’m offering exploratory sessions with me so that you can ask any questions you have about The C Suite ® and how it can benefit your business. These opportunities are incredibly limited - so if you’d like my eyes on your business and a totally transparent conversation about how The C Suite ® could support your goals, schedule your call today. Top 5 Business Development Questions: If you’re looking to convert more business development calls into sales? You need to be asking the right questions and getting the best information to support future work. Download my Top 5 BDQs here and start getting quality information from your prospects. If you've been consuming the content and LOVE the show, please make sure you take five minutes out of your day to leave a review. Click here if you would like to listen to my recent TEDx talk.