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Are You Charging Your Clients Enough?
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Business
May 25, 2020

Are You Charging Your Clients Enough?

I get asked a lot...

“Danny, how much money should I charge my clients?"

Yes there are a lot of variables, but my favorite way to base pricing is by the total amount of value I am bringing to the business..

Since Highstoke Media was created, we’ve lived by this pricing structure.

What does that mean?

Figure out the lifetime value of each customer for that business...

Meaning on average, how much does a customer spend with a business owner throughout their entire lifetime with the business?

Let's take a chiropractor for  example... A patient on average can spend around $2,500 with a chiropractor after all said and done.

If you are bringing a business 50 leads (potential customers) a month... let's say they can “close the deal” for a mere 20% of them.

10 x $2,500 = potential value of $25,000.

Wouldn't you say it's fair that you charge $2,500 a month?

Hell yeah.

What I always tell every single one of my students inside Client Takeover is to go after clients that have HIGH customer lifetime values.

What do I mean?

It'll be near impossible for you to go to a mom & pop barber shop who's making $10 per haircut to charge them a few thousand a month.

But it'll make sense to a plastic surgeon who's making $5,000 per client.

If your digital marketing business is struggling, I can almost guarantee it’s due to two things.

  1. You’re not focused on services that bring in direct measurable results (customers & revenue).
  2. You’re simply not charging enough.

So put on your big boy pants and start charging more!


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