Are you charging your clients accordingly for what you do? At times, it can feel like you’re providing clients with so much value, but not seeing anything in return. This is when you have to reflect on how you’re charging for work and where to draw the line. If you don’t charge for what you do, it’s only a matter of time before you go out of business.
Of course, charging accordingly doesn’t mean you have to be rigid. By using your judgment, it’s crucial to recognize when and where to provide value. If a client dismisses your work and continues to ask for more, it may be time to take a step back and evaluate the relationship.
Be comfortable with your value and continue charging clients accordingly. It’s as simple as that.
[Transcript]
Hey everyone, thanks for checking out another bonus episode of New Marketing Show. I’m Greg Taylor from Trinity Web Media today I want to talk about value charging clients, how do you charge clients? Do you charge clients, all that good stuff.
So you know, if you ever want to really understand what your value is to a client, or to anybody put an invoice in front of them, see what their reaction is, you know, if they ghost you, and they don’t come back, and they don’t talk to you, or whatever, you, you have a clear understanding what their value is.
If they’re if they engage you with a conversation, then you understand where you guys where you sit, where the relationship stands, you know, a lot of people want a lot of things right and need a lot of things, right. But they’re unwilling to pay for it, or they can’t afford it. Or there’s a multitude of reasons why they’re not ready to open their checkbook. So a couple of things.
One, do you charge for everything that you do? This is one of the things that I’ve learned over the years of being in business that if you don’t charge for what you do, you will go out of business eventually, you know, you need to go ahead and invoice for your time invoice for your product invoice for your service.
Otherwise, why are you doing this? You know, so I want you to really, really think about, and internally here, you know, Trinity Web Media, we talk about it all the time about are we billing for this? Why are we not billing for this? What would the compelling reason be to not bill, you know, and we have discussions about it.
But we want to build for almost everything that we do. Now there are certain times that we want to be in favor with a client or we want or a client needs a favor in a pinch, etc, etc. Of course, we’re not going to be so rigid, that everything is yes or no, I mean, there’s going to be some exceptions. But more often than not, you need to bill for everything that you do. Because when you build for what you do, you’re demonstrating your value that your time is valuable.
What you’re doing, you know, in our business, is you’re exchanging time for dollars. It’s always a tricky thing exchange, when you do that you’re exchanging time for dollars. In the other kind of, you know, in an a product where you’re exchanging a product for dollars, so you have to make sure that what you’re doing fit your business model, what you’re doing is a win win situation for everybody. You feel good about what you do. And here’s the other thing.
Whenever we do something for somebody as maybe a favor, or as a donation, invoice, if you invoice someone, let’s say you’re you’re charging them, what you would do chart, be $250 invoice them, and then give them 100% discount, so they understand and so that you’re demonstrating what value you are bringing, and what value you are giving them if you don’t let people know.
They’re never gonna know. So a couple of things that you know, a mentor of mine, Francine Hardaway had told me is you need to understand your value. You need to be comfortable with your value. You need to charge accordingly. That’s exactly what I’m saying.
Hey, thanks for checking us out. We’ll talk to you soon.
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While I’ve known Greg for years from our time together in the marketing scene, I’ve only recently had the chance to work with Trinity Web Media on a client project. Not only was the team professional and their work spot on, they were amazingly quick to respond and required very little hand-holding along the way. I chalk that up to their past experience and a deep understanding of best-in-class services.
I have hired Greg and the Trinity team multiple times for work on my own websites, and have also hired them to work on behalf of multiple clients. He is simply a pleasure to work with, in every respect. Smart but without the giant ego of some developers, Trinity Web Media works with his clients to achieve their vision in the best way possible — with careful attention to their interests, and thoughtful recommendations based on his expertise. • Susan Baier – Founding Marketing Strategist – Audience Audit