Monthly Archives: February 2020

Feb 26

Market Research Success and Mistakes

By Jennifer Hall | Podcast

Are you keen to get it right and validate your new business idea or direction before you spend a ton of money and energy into making it a success? Well at least you’re smart but market research is a minefield and mistakes can give you a big headache and waste precious time. 

In this episode we cover:-

  • How to successfully validate your idea or new direction without spending a ton of time, effort and money.
  • The biggest mistakes made in market research that lead you down the garden path.
  • When your eagerness to get it right goes wrong and actually holds you back from success.

Useful Links:-

Book a Call with Jen  – bit.ly/claritycallpodcast

Send your emails to jen@jen-hall.com

Read Full Transcript

Please note this transcript is machine generated so it is not perfect and should be used for reference only, you will get the best from the podcast by listening to it in it's designed format.

(00:00):
Are you trying to be smart and do your due diligence around market research and making sure that your business ideas are going to be a hit? Well, in this episode I'm going to be going through all of the mistakes and the successes of market research.

(00:26):
Hello, welcome to this episode of The Expert Unrivalled Podcast. I'm Jen Hall, your business positioning coach and market leadership expert. And today we are talking all about market research. Now before we get stuck in, I wanted to read out a recent testimonial from one of my amazing clients Sharmini Gillani who is fantastic. She is also a clarity expert and she calls herself a messaging maven. Now Sharmini is brilliant. She is what I call my real ideal, ideal client. She is somebody who is two takes action, who has bags of energy and passion for what she does. And she came to me because she wanted help with her own messaging because whilst we can all be geniuses in our own right when it comes to helping our own clients, when it comes to our own stuff, I think we all know this age old saying of we are never as good as we are for our own clients.

(01:29):
Probably not exactly a Chinese proverb. However, that's where she was and she wanted to elevate his, her position within the market and I just wanted to read you out this amazing testimonial that she wrote me discovering Jen has been by far one of the best discoveries I have made in my business. It has radically changed the trajectory of my future and my positioning in the marketplace, is so much more powerful than ever before. Not only that, but since working with Jen, I started converting dream clients with ease who didn't question my value. I had the confidence to double my fees and sold at the higher price point without question. I feel like the queen of my own niche and I'm about to approach one year in my business and about to hit six figures eminently which she has done, which is just fantastic. Sharmini his expertise really lies in helping spiritual entrepreneurs to align with their life's work, their life's passion and their niche.

(02:29):
Because she helps so many people who are feeling out of alignment with who they are trying to help. They don't have the clarity on their life's work, their life's mission. And she's able to cut right to the heart of what that is and give you the words to articulate it, which is just fantastic. So huge shout out to Sharmini. I just wanted to really sort of praise her for the work that she's doing and the people who she's helping to find that alignment and clarity. And if you are somebody who has that same ambition and passion to help your clients and you are looking to elevate your position within the market to market leader level and to really raise your game in charging higher prices and offering a higher level service, then do make sure that you book a call with me.

(03:23):
The link is in the show notes. It's bit.ly/claritycallpodcast. You can go there and book an appointment to speak to me and see how we might be able to work together to help you achieve that market leader positioning to help you to start becoming known for something that's truly desired by your market, that you are recognized and significant in the marketplace so that you can start dominating your market and getting those clients queuing up to work with you if that's what you're after there. Make sure you book a call with me in the show notes. So recently I've been chatting to potential prospect around working together and now this particular prospect is actually just starting out on her journey and she has all the ambition, has got all of the, the right things in order to get herself going in terms of her determination.

(04:21):
She's got all the right attributes. But she's also got people around her who are cautious for her as we all do. Whether you were in that position at the minutes or whether you started a business and you're well into it. We all know the types of people that can surround us who absolutely mean well. And that only saying these things because they are concerned about the success, but people get worried about whether the idea is going to be a hit quite brightly or you know, whether it's going to work out, whether it's going to produce money. Is it going to be, be a big waste of time? Is it going to be an expensive hobby? And obviously we have to take that into account. But obviously when we're trying to start our business up, sometimes it can feel like it's putting us backwards when we only want to move forward.

(05:15):
And so this particular prospect was saying that her other half wants her to do it a little bit more market research before she starts investing money into her business. Now, because of this conversation, I really wanted to do an episode around market research about some of the myths, and also show you how you can start doing market research properly. Obviously the more of an idea you have on whether you have a viable product or viable service, the better. And if you can come to me or any business coach with that information, it's going to take you a lot further. The more you've got, the further you go. It's simple mathematics, simple science, right? But what do you do when you're in that position? And even if you've been in business a while and you've perhaps wants to start launching a new idea or your looking to maybe pivot and you're wondering, how do I know that I'm heading in the right direction?

(06:16):
How do I know that this business idea is going to take off? And really one of the biggest mistakes that people make when looking at market research is that they actually start trying to lead with a problem that they think is important to their ideal client. And so it kind of puts words into the market's mouth. And so they are led into a kind of almost pushed into a corner to answer questions on something that really isn't a big deal to them. And so you end up with this response from people that is really doctored from the first point. And so it kind of fails before even really gets going. Now what someone says and what someone is willing to pay for are two very different things. Now I think you've seen this a lot and I've mentioned this a lot on the podcast actually, and I think it was in the last episode, the one before, where I mentioned around, you know, everybody would love a mansion if you were to say, would you like a mansion?

(07:24):
Most people, not everyone, most people would go, yes, absolutely. That sounds lovely. But actually in reality, you know, when it's put to them and they're slightly thinking about all the things that go with that and things like that, you know, it's like, well actually do I? And the same thing goes for, you know, problems that people have. You know, lots of people can suffer from the same problem, but not everybody's willing to do something about that problem. And we know this for instance, from even friends and family now this is a big mistake that I see people doing a lot. And that is kind of like throwing out a survey to their friends on Facebook in the hopes of getting some kind of validation of that ideas. And the problem with that is that your friends and family are probably not the ideal clients that you're looking for.

(08:16):
And they're also very different in perspectives. You end up getting, you know, I've done it before in the very beginning, at the beginnings of my entrepreneurial journey I did this and you end up getting this hodgepodge of different answers and from varying ends of the spectrum, some people absolutely trashing the idea. Some people like my mom going all, I think it's wonderful, dear well done. I would absolutely pay for this. No, you wouldn't, mom. The only reason you would pay for it is because I'm selling it, but anyone else trying to sell it, you probably wouldn't. And so it's really understanding who it is that is actually answering your market research questions. Don't go throwing things out onto Facebook if you don't have people fitting a particular criteria before they start answering because you have to have a starting point.

(09:12):
Sometimes the best way to test the market, it's just an attempt to sell it. Throw it out there, attempt to sell the damn thing, then you'll know whether it does or does it. Which is why I always say: don't put energy into creating something, putting together a huge package, writing a big course, even creating a product. Don't do that until you've validated it. And the only way you're going to get true validation is actually by getting somebody to buy it. Now, I've already mentioned this example before, but just to remind you of the February's example where they got it completely wrong. They did all their market research before they threw out there and they still got it wrong. They targeted the smelly houses with dogs and teenagers when actually they should have been targeting the house proud owners who wanted to make sure that they had that extra clean smell.

(10:14):
That's their real target market. That's who's going to buy the product because that's who's willing to spend money on it. The others are not. So even though they did the market research, they were targeting the wrong people with the market research. They led with a problem that they thought was going to be the one that stock when actually it wasn't the only way they were able to truly find out whether it was going to work or not. Yes, they market research could have been better, but they went ahead and attempt to sell it and found the act, you know, they were targeting the wrong people. And they had to stop pivoting. Otherwise they were going to go under. They did unfortunately. And now they have huge success of sales. But a lot of people stay in procrastination mode, on arming and over and over whether the idea is going to work or not.

(11:07):
And you know, you've got to, if you're really passionate about what you do, and really this is the thing, a lot of people get stuck in procrastination mode as well because they're unwilling to change things. And something I've said in during the challenge period was that you have to be willing to adjust and, and amend, adjust your sales and amend where you're going. Because if you're not, you're just flogging a dead horse and your, you're kind of running up against hitting a brick wall all of the time. You have to be willing to push things in a different direction if need be, make your tenacity and you'll stop and nurse for helping people don't it about the idea or the thing or the business name or the product that you've created. Because just because you spent a lot of time thinking about it, investing energy into it, even potentially investing money too into it.

(12:05):
If it's not wanted in the markets, then you're going to have to do something differently and there's no point. Keep running and hitting that brick wall because nothing's ever going to change. The more you stay in the segment of market research, market research, constantly, constantly, and you're still not getting the right answers back to validate your thing. You're just gonna end up standing still all the time. There comes a point where you just have to move forward and sometimes you can do the groundwork and I think it's a really smart move. You know, you don't get me wrong, I'm not saying don't bother with market research. I'm saying absolutely do some digging, but sometimes you have to businesses also about going with your gut. And it's also about trial and error.

(12:53):
Fatal forward. Don't spend ages creating it, but absolutely presale, pre-sell it, put it out there, see if people will buy it. Let people know that they're going to be on a wait list and the deliverance isn't going to be straight away but they can get it at a slightly discounted rate or whatever. But test the market, do your groundwork, absolutely, but don't get stuck in this paralysis of trying to continually find the right answers. But I'm going to be talking about at few ways you can look at a starting point at least because otherwise you potentially are moving forward with with a dunce idea. So, let me help you out a little bit with that. If you really are doing market research and you really don't have a clue, look at what people are already paying for, look at what people are already buying.

(13:48):
That will give you some idea as to where people are prioritizing spending their money. At the end of the day there aren't any new ideas and it's likely that you're going to be selling something that somebody else is doing. Now, the biggest warning sign on that one is to make sure that the things that you're looking at are actually making money and people are actually paying for it. You want to see a few more than just Joe blogs down the road doing it. Who's telling everyone he's making a ton of money but actually behind closed doors he is not. So be very cautious about believing sales figures. Make sure that your sources are trusted and make sure that the research you're doing is solid. But looking at what people are already paying for is a great way to look at, okay, what's already being validated. And it kind of gives you that ballpark as to, okay, this is where people are spending their money.

(14:43):
How can I be different? How can I offer a similar solution? that's better or quicker, faster. Whatever you spend, you want to put on it that you put your own stamp on it. Because what I don't want you to do is go and go all they're sending that. So I'm going to set it to obviously make sure that you're qualified to do so. But you will say want to be making sure that you're finding your own category of one. But all that said, it's at least going to give you a starting point where you go, okay, people are paying for that. Right? That's kind of my arena as well. That's good news. Now I just need to look deeper into that arena to find my category of one and to really make sure that I niche and put my own flag in my own space.

(15:28):
That I'm not just copying what someone else is doing, that I am creating something for that market and for the problem that that market is experiencing. Focus on solving problems in business. If you do that, then you're always going to be heading in the right direction because people want problems solved. The bigger the problem, the more people are willing to spend. I think I'd just put out a t-shirt. Cause I seem to say that a lot. But rather than kind of leading with what you think is the problem, when you kind of get that ballpark figure, go and ask those people what are their priorities, what's important to them right now that would hopefully help you get a true answer. And talking about finding that ballpark. The quicker you can find out your who and get really specific on that person that really helps you to conduct your market research with with an error of security, knowing that you are asking the right people.

(16:35):
Because like I said, if you throw it out to your face, Facebook, friends and family, you're going to get a bunch of different answers. But if you can really narrow it down and speak to a specific individual and then you can really start to dig in. So you look at the criteria of that person, what is their situation that they are in that you can say, okay, you are the right kind of person to be answering my questions. So create that criteria first and foremost so that you know that you're getting the right people pull through to get those real true answers. And then it comes with yet another warning because even when you get those answers, you would say they'd have to look at, okay, so all these people ideal clients to work with because I could ask a bunch of business people to answer my market research questions, but then when I actually get to speak to them or look at we know who they are, they might not necessarily be if the right mindset of the person that I want to work with or they may not be at the right stage in business to need or want the product that I have.

(17:43):
And so you have to be very specific and very clear on who it is, even at that granular detail. Because if I listened to all of the answers, again, you'd get very sporadic view on whether this, this, this idea is valid or not. And also another way to look and get that ballpark arena is to look at, okay. Was I my ideal client? If you were, then you want the best market research tool out there. So many people start businesses like that. It's not for everybody. Everybody starts one, but so many people do. They realize that they would have paid anything if someone could have just helped them solve the thing that they've now finally gotten done. Cause obviously they, you can't still be struggling with the same thing and selling a solution because that's not within integrity.

(18:36):
Right? But if you were your ideal client, put yourself back in the shoes of where you used to be and use yourself as that starting point. Find more people like you who are in that position and dig into your market research for them in that way. And I would advise having actual conversations with people. So once you can dig into that, that strict criteria of who it is that you're asking, actually get on the phone with these people, have meetings with these people and really start to dig in and interview them. Because surveys are great, but they can give very lukewarm results. If you can actually get on the phone with somebody, you could have a real decent conversation and also get a gauge again for, okay, so let's put this into a real situation. Would you be somebody that my business would want to work with?

(19:29):
And I'll give you an example of this. For our adventure travel company ever track, just to kind of elevate the example a little bit. You know, there are people who get on the phone with us at ever track and their thoughts, they start saying words like, Oh, I'd love to go on a holiday. And even just that word, holiday is a buzzword for probably we're not the right company for you. We sell hardcore tracking adventures, not holidays. And if we're expecting a holiday, then off you go to first choice to the other travel providers are available. Even just that word, there we go. Okay. I don't trust what you're saying to me here because you're not definitely not the person that we want to be working with anyway. So you have the conversation, be polite, so and so forth, but you can scale it.

(20:22):
I'm not going to count this information exactly. I'm not going to hold it in much stead because they're not the right kind of fit. But these other people are and all of their answers a congruent. And I'm starting to see a similar thread following through. I definitely advise doing that. And as kind of finishing up this episode, I just really want to suggest to you that if you focus on solving big problems for serious buyers, and by that I mean people who are motivated to have these problems solved or who are motivated to achieve a goal and are willing to spend money. If you focus on those people and you focus on solving these big problems, you're going to be heading in a great direction in order to make sure that you're validating. And the only real true validation is when you finally ask people for money.

(21:19):
When you do that and people are buying it, you know that you're onto something and that you're absolutely on your way to a successful business journey. So there we have it, that there's my advice. Absolutely. Do market research, but don't procrastinate. Don't stay there forever. Push forward. If you truly believe that you're onto something and they go for it and to test it out and if it doesn't, then that's cool. That's fine. At least you have an answer. It doesn't mean you give up on that idea. It just means it needs a few tweaks and changes. You may need to go back to the drawing board a little be like: okay, so what am I offering? What am I solving and who am I doing that for? If you can have a look at those things and adjust the sales slightly, you'll find that you'll probably have better success.

(22:04):
But don't try and get it right first time. It's not going to happen. You've got to fail forward. So there we have it. There is the episode. I really hope you've enjoyed it. Again, if you would like to speak to me to get more clarity around who it is, just speaking to that big problem that you're solving and how you can start moving forward in a really positive direction in your business to elevate your position within the markets and market leader level to start seeing traction where people start knowing you for something specific that is desired and wanted within the market that you could start writing that book, you can start hosting that event and being someone significant within that market, within that industry. Then do make sure you book a call with me. The link is in the show notes. It's bit.ly/claritycallpodcast. Go ahead and book a discussion with me. I'd love to speak to you and again, as always, if you have any feedback or questions or you'd just like to talk to me over email, then make sure you do that at jen@jen-hall.com and I will speak to you again in the next episode.

Feb 19

How to Prequalify Your Prospects for Successful Sales

By Jennifer Hall | Podcast

Fed up of taking calls with less than ideal prospects, brain pickers, and time wasters? Do your calls feel really icky and awkward?

Fear not, it’s time to get a pre-qualification strategy in place…

In this episode we cover –

  • How to prequalify your prospects in three simple stages to ensure you ONLY speak to the best people.
  • Turn your calls into a sales success without that icky and awkward feeling.
  • The red flags you should look out for when prequalifying AND the surprising red flag that you should ignore.

Useful Links:-

Book a Call with Jen  – bit.ly/claritycallpodcast

Send your emails to jen@jen-hall.com

Read Full Transcript

Please note this transcript is machine generated so it is not perfect and should be used for reference only, you will get the best from the podcast by listening to it in it's designed format.

(00:00):
Are your prospects qualified to work with you? In this episode we're talking all around how to prequalify your prospects so that you only get the right people on your calls and into your products and services.

(00:23):
Hello, this is Jen Hall here, your business positioning coach and market leadership expert. I hope you are well on this fine day. So today's episode is all around pre-qualifying your prospects and ensuring that your prospects are qualified to actually work with you. And I'll explain more about that in just a moment. At the moment me and Andy are looking to get a new kitchen fitted so we were going to get a kitchen extension and we've decided to postpone that due to various reasons, including not being able to deal with the upheaval until the year after next. However, we are looking to get a new kitchen regardless because I cannot live in the kitchen that we currently have at the moment. We moved in August last year and we have been living with a kitchen that's from the 1970s. It's literally falling apart. The fridge door opens will opened cause we had to get, we did have to buy a new secondhand one to tide us over because it was literally like pollute in the front from the front.

(01:28):
The hinges came off. It was, it was just getting down, man. So enough's enough with a 1970s kitchen and in with the new until we decide to actually do the fertile an extension on the house. So we've been ringing around the kitchen extension people to this kitchen, so fitter people to see who would be able to do this job for us. And we're not everyone's cup of tea to work with. And the reason is, is because exactly that we're looking to up a kitchen and then we're going to rip it out again and put it back in, into the new extension. So we know everyone's favorite cup of tea and that kind of job would perhaps scare some people, put people off, they can't be bothered. It's not something they would do, specialize in and so and so forth.

(02:12):
We've realized very quickly that we're going to have to go with a more specialized kitchen fitter who's going to be able to kind of foresee those issues and preplanned and then stay with us again. But when we need to get them back in again to repeat back out, to put it back in again. All good fun. So there's lots of things to think about. And so it's important that those kitchen fetters pre-qualify us as clients to ensure that they're happy to do the work and that we're all gonna get on okay. And that the result for both of us is going to be fine because some of the more, I guess, standardized fitters that there are out there that work with the likes of ran kitchens and so on and so forth aren't probably used to the type of that we're about to do.

(03:00):
This probably isn't very not a normal situation if anyone else's, it's is planning to do the same thing. I'd love to know that I'm not the only loony out there that's looking to do this, but it's important that they make sure that we're with the right customers for them, so that there is a mutual success and there is a mutual successful relationship that's going to move forward when the process starts happening. So prequalification is very important to make sure that you're both a good match for each other. Back in the day I used to speak to a lot of people who weren't, we weren't a good match to work for each other. They didn't like me, God forbid would anyone dislike me who I am a terrible, isn't it? But it's true.

(03:45):
You know, I, not everybody gels with me. No Everybody likes how I work and how I do things. I'm not for everybody. And so that's important as well to understand can you work together? I took calls of people who didn't like me. I took calls with people who weren't ready to work with me. I've taken calls of people who definitely weren't a right fit and I'm just going to leave out that I'm not going to go into any details or names. But you get what I'm saying, right guys, you understand where I'm going with this, that we end up putting people through who aren't the right fit and we end up wasting everyone's time including their hours and hours trying to take calls and work things out and make things fit and when in fact, actually by putting down boundaries and expectations and prequalification process, we can avoid a lot of that and save a lot of time and energy.

(04:42):
Now, if after listening to this episode, you would like to actually get on a call with me and by doing that go is, by the way, you will also see my prequalification questionnaire, which is before you book a call. Then please do, because I'd love to speak to you about working together, moving forward and seeing how we can start to find you high paying clients at a high ticket price and becoming the market leader who is a number one choice in your fields. If that sounds good to you, then do book call using the link that's in the show notes, but that is bit.ly/claritycallpodcast. So you can go there and click the link advocate call in. I would love to speak to you.

(05:32):
And again, you'll also be able to see that prequalification questionnaire as well and have a little nosy about the types of things I put in that too. So one of the first things I want to tackle around all your prospects qualified to work with you is the integrity issue. So I'm going to come into the nuts and bolts of things in a moment. But the first thing I want to tackle is this is all you're selling the right product, the right thing for them? Because I've seen this happen a lot. And it comes from a place of desperation. It comes from a place sometimes of naivety and blinkered ignorant thinking. And I say that with all the love in my heart, but it's true. So many people do this and it's basically selling people into products and services that aren't right for them at that time or at all.

(06:27):
We speak to certain sales coaches, by the way, not Jessica Lorimer. If you get to speak to a particular specialized sales coach, Jessica Lorimer is the one you speak to, but you see some people who rave about sales, making sure you get the sale. Now, yes, that's great for your business, but it's not great for the person and it's also not great for your continued working relationship and possibly testimonials and reputations, so on and so forth. If you're bringing people through the process. I know if I have to drag someone through a sales process, after working with jazz, I'm a pretty good salesperson. Like gosh, I'm miles ahead of where I used to be with sales. However, I will not drag someone through a sales process because if I have to drag them through, even though I could, is going to be dragging them through the rest of the program, that I'm also going to be doing as well.

(07:24):
And I don't want to do that. I want people who are primed and ready and motivated, want change and understand the value of what I'm offering before they get on the call. So I did an episode of, I think it was episode 14 around making sure that you are converting clients before they get on the call. And I talk more about that in there. But that's my better approach and my most ideal outcome is to have people on the call who are ready to go, who are people who are prequalified, who are motivated or converted to say yes before they get on the call. Yes, they might not be 100% converted. That's why they're on the call, but they're pretty much, they're excited and they love the love what I do, they've heard my content, they've seen read or content and they're like, no, this is the person I want to work with and I just want to get, be reassured and cross the T's dot the I's and make sure that everything is hunky Dory.

(08:25):
Those are the types of situations that I like dealing with. What I don't like to see is people get taken onto a sales call and given a great sales pitch and pulled through to saying yes to something that actually isn't the best fit for them right now. And the person on the end of the phone doesn't know any better. They're not in the strongest position because they, they're, they're looking to you for your expert advice. And if they're being given the wrong advice and they're being pulled in then it's not gonna be great. I've been on the bad end of that stick and I know some of you have also been there too. The majority of my listeners don't do that. But I think it's important to raise awareness of it because I see it happen so much and I just wanted to kind of mention that, that that's bad.

(09:16):
That's a bad thing to do. We don't want to be doing that with people. It's not about getting the sale, it's about sending people into the right things for them to ensure that they get that transformational result. That's what integrity is all about. It's getting that good fit for both of you. People don't like to be sold to. Yes. That's shoe mine of what all of sales is. Don't assume everyone wants nor needs your product. It's making sure that you are very clear on your side of things, who it is you help. How you help them, what problem it is that you solve and what outcome it is that you helped them achieve. Be really clear on those three things and also be very clear on what stage that person needs to be at.

(10:08):
Are they in, is this for newbies or is this for this for somewhere one further along the mine, will they needed to have certain criterias mat in order for you to work with them, you need to be clear on those things before people stop hearing or phone calls or even booking a phone call potentially. You need to be clear on those boundaries or even the fact that they're going to go straight to buy a product. And for me there are three stages of pre-qualification. There's probably more, but it's the easiest way to explain it to you guys. And the first is through your content. So last I just mentioned is being clear on your end, who are you helping? What problem outcome are you solving for that specific person? What are you specializing in?

(10:57):
And to make sure that those people match that criteria. And you can do that through your content. So you're going to be writing content around the kind of person that you help run the problems that you solve around the outcomes that you helped them achieve. And you can put that in your content. You can also put that on sales pages. That's going to make that very clear around making sure that that, you know, tick, tick, tick. Yes, that's me, that's my problem. That's what I want. This is looking good. And then you could even have a section I say you could, you should have a section on this is not for, and then you can list all the things that the type of person that isn't meant for this program. And that can be both mindset wise and practically. So it can be for those who want to chuck money at something, for instance, and won't expect things to work.

(11:46):
This is not for you because this requires your effort, your work, so and so forth. It could also be practically, so for instance, for me, sometimes this is meant for people who have already had clients and have a proven product sells or something like that that might be on a sales page somewhere for one of my programs. You could put that, this is for after that you put this is for and then you can start laying out all of the criteria. Again, mindset wise and practically wise of who it is for. Which could be include people who have been in business X amount of years, people, who are suffering from X heart condition. It could be anything, but it's making sure that you are setting out those expectations and those boundaries from the outset on who it's for and who it's not for.

(12:39):
And you can do that on your sales pages. You could do that through your content. And you can also do it through your content via showing opinions. Because at the end of the day, like I said, I spent a lot of time talking to people who didn't like me. And that's because I wasn't getting out there with my opinions. They were starting to see a side of me that they hadn't seen before and they didn't like it. They wanted a softly, softly approach. And that's not me. I'm very hard down the line. I don't mess about with my feedback. It's always very, very honest, always coming from a very good place, always coming from a place of experience. But I don't mince my words and that's not for everybody. And so if my content doesn't reflect that that way, my style and it doesn't reflect the types of opinions I have on certain things than perhaps we're not going to jail when we work together.

(13:29):
So a great way of pre-qualifying and making sure you're bringing on the right kind of following and that actually that you're following or engaged and that you start always creating a movement of a certain type of person, sharing your opinions and your content is a great way to start sifting out the wheat from the chaff. The second level of prequalification is through prequalification questionnaire. Before they get on the call. You need to make sure before every call that you take people through this step because if you don't, you are going to end up in a situation, as I said, speaking to people who are brain picking, speaking to people who potentially think that this is a free call to get information when actually it's a sales call and that's not great for either of you. So these prequalification questionnaires are great for setting out those kinds of expectations.

(14:19):
So it doesn't feel icky. One of the reasons why we feel icky when it comes to taking courses because we feel like they want something from us and we don't want to give it to them for free, but then you feel obligated to in that you do. Then you get resentful and it's the whole yucky situation is just ick. So the best way is to make sure that in that prequalification questionnaire that you lay out exactly what is expected on that call and what you are going to do. And I have an extensive list of and expectations on my call questionnaire that people have to take to say that they understand that they understand this call is to determine whether we are a great fit to work together. That they understand that if at the end of that call I think they would be a good fit for one of my programs, that I will offer those to them, that they understand that if they are not a great fit, that I will turn them away and perhaps refer them elsewhere or whatever.

(15:16):
It's all very, very clear from the outset. So they come onto that call fully aware of what that call's about, what's to be expected. And they also have that magical question on there, which is around finance is that, do you have access to funds? Do you have funds right now to grow your business or you don't have funds? And so I'm able to get a gauge. Now, it's really interesting because I have a few different questions on here and there are some red flags where I won't take a course or whatever. So we have other questions that I ask in there to kind of determine where people are at where the clarity is on their business and kind of what their challenges are and so on and so forth. And I also have a question around how committed they are to achieving the goals that they've put down.

(16:02):
Now interestingly enough, I will take calls of people who say that they don't have access to funds because a lot of the time people pick that because they don't want to be sold to. Now. I will still take the call in that instance and it will be something that we'll bring up at the very beginning of the phone call to say, Hey, I see that you've put this down. As you understand, this call is about working with me so what we can do in this call today is going to be limited, but what we can do is ascertain where you're at and what we might be able to do in the future. And I tend to keep those calls quite short and sweet. And less, at the end that that starts to look as if they're interested in that.

(16:43):
They're wanting to find out more about the products. And actually a lot of the time, I was probably say 50% of the time people have still jumped on board even though they've ticked it and they just ticked it because they're protecting themselves. The red flags where I won't take a call is if they have a low commitment level to achieving their goals. I don't want to know, thanks very much. Or if they've put something in there where it completely takes them out of the ballgame, if me ever being able to work with them, there's no point. And in those cases I send them a polite email to say that from the questionnaire results that I've received, I don't think we're going to be a great fit to work together. And the call is probably, probably isn't going to be the best use of our time.

(17:25):
Thanks very much for inquiring da dah, dah, dah. That actually rarely happens because by the time they get to the point of the, of the core booking system in the questionnaire, they'll read through and they'll probably ascertain that they're not the right fit anyway. There's very few people that actually end up going slipping through the net and actually booking the call. Everyone else tends to be pretty much primed understanding where it's going and they're at a level for me to get on a phone call to know that actually this could, this could be really positive and beneficial partnership moving forward and we could be a great fit together. Judging by that qualification, judging by the fact that they've been following my content. If I've got a name that I have no idea where it's come from, I've not been interacting, interacting with them on social media or anywhere else or they've not bought my book or anything else like that.

(18:16):
And then I will tend to obviously ask them and said, Hey, are you looking forward to our call? Can I just ask where you found this? So you can ask that or I have particular links as well where I can tell where they've, what piece of content that they've come through from based upon what link they've clicked and so on and so forth. But you want to kind of find out where people are coming from as well. So make sure that that is in there somewhere. So that you can tell whether it's just some random person doing a yellow pages, flip through and just kind of hit your name and they just want to chat. Or whether there's someone who has been through your persuasion , preconversion process, you know, what you're dealing with. And again, it's your call too, whether you take the call or not, you know, whether they've not been through that that persuasion element.

(19:04):
You've got two options. You take the cold calls and you best be a good call taker and a sales call taker in order to make sure that you convert that lead if they're a good fit. Or that you can send them some of the things that you want them to look at to start that persuasion , to start that conversion process, to warm them up to your way of doing things. And to get them excited for moving forward. You can also do that. It's completely up to you or you can send them away it depending on what they've written on the questionnaire. So that's the second level. And then the third level is on the call and on the call you really want to be making sure that you're going over the answers in that questionnaire that you're ascertaining in depth where they wrap the impact that their problem is having on them or the impact that the not moving forward is having on them.

(19:57):
I'm ascertaining can you solve that problem? Are they going to be a good fit? Do they have the right kind of qualities that you look for in an ideal client? Are there any red flags that are coming up? Things that they're saying that don't sound quite right. And then it's again, ascertaining are they a great fit, but you've done all the hard work before they've got to the actual call itself. So you're in a good position to be speaking to the right kinds of people. And then it's just a case of, okay, so do you want to move forward with this person or not? If the answer is yes, offer them your services and get them an outlay of what you, what's on the table, what's best for them to start working in right now?

(20:41):
Or is it a case of saying, look, through speaking to you today, I'm not sure the best fit for you right now. And then referring them elsewhere or sending them on their way, whichever, whichever be the case or sending them back to some free content that they need to go and do or let them know the stage in which they need to be at before you can start working together. So do make sure that you follow this process and if you follow stages one and to the latter, you will find that your cause will be more fruitful, that you will start having more fruitful relationships moving forward. And that actually, if you start setting out the boundaries and expectations of what you're doing and you're clear about it, sales won't feel so icky. The calls won't feel so icky and it will start a much better place for a building, a working relationship together moving forward.

(21:32):
It sets a great precedent for when they received your contract and they suddenly have to read things that you expect from them in order to make sure that they get the results that they need. Being a service based industry, it's important that the user uses it properly. And so they have to have the boundaries and expectations set out for them and they've already been through your prequalification process so they know what to expect. They know that you're not just going to take any old person on, that you're making sure that every stage that you're transparent, that you are building those boundaries, you're building those expectations and that you're making sure that you're communicating that to every stage. And it makes the process so much easier, so much nicer, and it's in flow. So there we go. That was a download of wittering and I hope that wittering was useful to you guys on pre-qualification.

(22:30):
But it really is important to do. To make sure that your business functions well and that you start great business and start great working relationships. So I hope you've enjoyed the episode. If you would like to talk to me about positioning yourself as a market leader and how you can start attracting those high paying clients with ease and becoming that number one choice for your market, then do make sure you book your call with me in the show notes, the links in the show notes, bit.ly/claritycallpodcast. Get that book to have a nose on the way through at my prequalification questionnaire and I'm really looking forward to speaking to some of you who are looking forward to moving forward in your business. Could I say forward anymore? I'm not editing it out. I'm going to end the podcast and send you guys on your way, whether it's the evening or the morning. I hope you have a great rest of the day and I will speak to you again in the next episode. If you've got any comments, questions, feedback, and please do send it to jen@jen-hall.com speak to you guys soon. Take care.

Feb 12

How to Find High-Paying Clients

By Jennifer Hall | Podcast

High-Paying Clients –This supposedly elusive species is much easier to find than you first might think. So why does it feel so hard to find them? 

In this episode we cover:-

  • The mindset shifts YOU need to make around high-paying clients and your pricing to start attracting them to your business.
  • How high-paying clients think and what they’re looking for.
  • Why you’re holding yourself back from attracting high-paying clients right now!

Useful Links:-

Book a Call with Jen  – bit.ly/claritycallpodcast

Send your emails to jen@jen-hall.com

Read Full Transcript

Please note this transcript is machine generated so it is not perfect and should be used for reference only, you will get the best from the podcast by listening to it in it's designed format.

(00:00):
High paying clients. Where are they at? In this episode I am going to be showing you how you can find this elusive species.

(00:17):
Hi and welcome to this next episode. I'm Jen Hall, your business positioning coach and market leadership expert. And today we're talking about where to find or how to find high paying clients. So this weekend me and Andy went to London, which was fantastic and we did a lot of things. We did the Dungeons, which was great. We went to see touching the void, which is a fantastic play. Which is about to end. We were very lucky to kind of get in there and sneak in there cause we also didn't preplan to watch that. It was one of those on the moment things and we managed to find tickets. It's honestly such a great and moving play about a climber who ends up falling down a big crevasse. I'm not going to anymore cause I don't want to spoil it, so shush your mouth Jen.

(01:08):
But those books and documentaries and things out there as well. But yeah, it's called touching the void. It was brilliant. Any who I won't ramble on, but the biggest thing we went there for was for Andy's Christmas present, which was to go to the stranger things, secret cinema. Oh my gosh. And again, I can't give too much away. All I can say is you have to go. It's brilliant. When I first heard of the secret cinema, I thought it was some random secret location where you went to go and watch the film, not the case at all. They basically recreate the world. You become part of that. Well, you play a character in that world and you get to explore it interacts with the other characters within it, including the set. They actually recreate the world as if you're in it.

(01:54):
And it's absolutely amazing. Everything is meticulously done to the last detail. And we thought, wow, this is so cool. When I was looking at the price tickets, I was [inaudible] to whether get the VIP or whether to get the the normal and the, and we went, we went VIP. If you do anything, you get VIP. So we've opened the VIP tickets. But once I'd been in there, I started to think, wow, I would have paid a lot more for this. Had I perhaps known a bit more, or perhaps there was a bit more hype around it or the value had been communicated to me. And to be honest, I possibly would've probably paid more from the outset anyhow because it did look good. But obviously once you've price anchored somebody, a particular price points very hard to start charging more for it.

(02:48):
Now that's not to say that I'm suggesting that you shouldn't be raising your prices because in most cases, for a lot of people, they probably should be raising their prices. But the point is that they could have put a higher price in front of me and I probably would have paid it because it was so good. It was worth so much more than what we paid for that ticket. And so that's kind of a myth that I want to bust on the biggest outset is that we can sometimes shit ourselves when it comes to pricing our services where we process certain level and we get people saying yes to it and then suddenly we think, Oh, I can't pay anymore because maybe they won't buy. And it's just not true.

(03:37):
If once you price anchored somebody, they're chuff, they might feel like they've had a bargain or they might not. They might just feel like, yes, that was appropriately priced. But until you actually put a different price in front of them, you don't know whether they would have paid that on or so the retrospective, in hindsight looking back, would you have paid more? Question is always a bit iffy depending on who you ask. The only way you're truly going to find out is by putting these prices up and then watching new people come through the door to see if how they feel about that price. What matters is, is that you are pricing what it is worth, the value of the product that you in the service that you are delivering and that you're not just pricing for what you think people will buy.

(04:24):
You need to charge what it's worth and then communicate the value of that worth to the audience that is going to be buying from you. So that's really key, first of all, to kind of understand that you can't really judge based upon what you're currently doing. And yes, it might be that your services aren't up to scratch or it could be that actually you are over-delivering and your service and it is actually worth a lot more or your owning advertising a certain amount from the outset, charging for that part that you're communicating for. But then on the back end you're doing so much more but still not charging for it and not really seeing that. So there are lots of things that you need to do and look at in your business to make sure that really kind of analyze it to make sure that you are pricing appropriately.

(05:12):
That we can cause our own mindset blocks around would people pay a higher price or not? Based upon our current and current reality and our current experiences. If secret cinema had just put a different price in front of me, I probably would have paid it. I would have paid a higher amount. So have a think about that and make sure that your pricing is spot on to what it is worth, the value that is within that and that you're charging for the transformation, not your time. So now that's kind of off the table. Next thing to say is if you would like to speak to me about working together to create high ticket products to help you with your pricing and to help you to attract and high paying clients, then do you make sure you book a call with me using the link bit.ly/claritycallpodcast.

(06:01):
The link is in the show notes as well. Do you make sure you book a call with me that, and we can chat about how we can be forward and how I might be able to help you to do that. Just like jewels who was selling her health weight loss services for around 300 pounds and struggling who actually raised them to at least 2,500 pounds and that she sold them with more ease than she did at the 300 pound mark. And then of course you've got the likes of David who went from selling his consultancy services for 10,000 pounds to actually selling them for 36,000 pounds and beyond. So it's totally doable at whatever level you are at. It's totally possible for you. I'm very much passionate about these particular topics around selling a high ticket level.

(06:59):
I'm very passionate about it because so many people feel inadequate that they can't do it when apps they absolutely can. And they also feel like that their stock at a particular level that they're at at the moment. And it's pjust not true. You can absolutely uplevel, you can absolutely elevate your position within the market in order to start selling a high ticket product and start getting a new type of clientele who will pay those kinds of process. It's totally possible for you. So if you do that, do make sure you book a call and we can get going. But either way, let's get stuck into the nuts and bolts of today's episode. So I want to bus let another myth which is around finding a high paying clients because that's not necessarily true. It's more around attracting a high paying client, which I'll come onto in just a second.

(07:58):
Now of course we can be a bit smart about it because at the end of the day, your ideal client has to be able to pay you. And so if you're selling at a higher level, then you need to be thinking about, does your ideal client that you're currently targeting have access to funds? Now ultimately, how much money people have is really none of your business at all. Because people have access to money in all kinds of ways and if they really want to find the money, they will. Now, whether that is by asking a family member, whether that's by dipping into the household income, whether that is by getting a loan, I've taken those before. I've put things on credit cards before now. It's not something that I necessarily suggest that people do when in fact is not something I ever do.

(08:56):
I don't have to suggest that people get into debt, but ultimately it is their choice. What they do, and what I'm saying is that whilst you would never suggest these things, because I think that's unethical, I think we also have to realize that it's really none of our business how people get hold of money. If they want to buy something. Ultimately that's their decision and that's up to them what they want to do. In my heart, I don't want anybody to put themselves in a situation that would put them in some kind of financial danger because at the end of the day, I want my clients to be safe. If I knew about it that that was the case and I wouldn't take somebody on because the process in terms of what I'm doing doesn't work. If you're in that survival mode and that where you're worried about money and keeping your head above water financially it's not a great place to be running a business from or starting a business from.

(09:52):
So that's something that is important to me to make sure that people are financially stable if they then choose. I've had a lot of clients who have that who are in a okay position, but they choose to put it on their credit card or they choose to get a loan because they don't really want to dip into the other funds that they have access to. Then again, it is up to them. It has nothing to do with you. It's none of your business. And so you have to accept that people need to make their own choices and their own decisions. And you also have to accept that people do on the whole have access to money in many different ways than what we realize. Not many people have thousands of thousands of pounds lying in the bank just ready to just throw it, throw on something. We're human beings and we want to make sure that what we're spending our money on is important.

(10:38):
And when we don't have it, if it's that important, we will still look at options to see if we can work something out. You have to be smart in terms of, you know, if you're selling a high ticket product, you're not going to be wanting to target people that are on the poverty line because they're just not going to have the funds in order to do that. And again, as I've mentioned in other episodes, it's not particularly ethical to be targeting them as an ideal client anyway. In my eyes, particularly not for high ticket products. They're focusing on the very basics of life at that particular time. They're focusing on roof, saying that they had food on the table and other such things. So unless your helping with, with those types of endeavors and you'll probably be doing that with supporting companies around that industry who helped these people rather than targeting directly as a consumer.

(11:36):
So you can see where I'm going with this. So we want to be beat. We want to be smart about who it is we're targeting. Absolutely. so we want to be thinking about, do they have disposable income or are they at a stable stage of their life where they could have access or find money or get credit, whatever it is. We do have to think about those things as well. And we could all say be smart about where those people might be hanging out. We can look at things like demographics and for instance, we could think about, well actually if we target corporates, they have a lot of cash that they're smashing around where they can, they can spend on various things. Now that's not to say they'll just spend it on anything.

(12:22):
They'll still spend it on the things that they fought will find valuable, but they definitely have the funds to pay you. So again, that would be making a smart strategic move. But it doesn't mean that not everybody wants to work with corporate, so I'm not saying that you have to work with that. But that would be somewhere where you could always be damn sure that they have the funds. And if people aren't buying from you at a high level from corporate, it means that you've not quite delivered on the value and the priority that they have at that time. So it's being smart. Yes. It's not necessarily about finding them. We can be a bit strategic about looking at our ideal client profile. Who are they? Are they someone that would access those kinds of funds? Because the other thing that we would need to look at here is, is how much of a priority is it for them?

(13:13):
Because there are a lot of people that want a lot of things in life. You ask somebody at any financial level whether they want to live in a mansion, everyone's going to say yes, but you know, financially some people that's going to be more viable for some people at a different stage than the people who aren't necessarily at the stage where they're financially stable. If you get what I mean. So we have to look at who are we targeting and what is a priority for them right now. I'll give you another example. Say for instance, I speak to people on calls all of the time and deciding whether the investing in my services is the right thing for them. We talked through the process and what that would involve in the seven or so forth.

(14:07):
And recently I've spoken to a few people that have not been the right fit, financially speaking. And when I say that I'm also talking in a mindset perspective, they might be too new to the process to feel comfortable investing at a higher level. It's too risky for them. So you also have to look at the mindset of the person that you're targeting. And it's different for different industry. But if you look at, for instance my industry where I'm be to be and I tend to work, like I said in a previous episode with businesses who have had clients and they're more stable, I still end up talking to people who are also just starting out as well. And things are a riskier for them at that stage. So we have to think about the mindset of people and where they're at and how willing they are to invest in the thing that you're selling.

(14:59):
Because it might not just be about you, it could also be about themselves and whether they feel that they've got what it takes to make what it is that you're selling work. So that can be across any industry that that applies across the board, not just for business, like business coaches that applies across the board for anybody selling any service. You have to look at the mindset of the particular ideal client that you want to serve. And maybe it's also about saying, Hey, am I targeting the wrong people? Otherwise you could be flogging a bit of a dead horse. You know, if you, if you're selling the wrong product to the wrong ideal client, it's about that alignment and that congruency and that perfect match between the person and the products. Does it work? Or the business and the product or whatever, whoever it is that you're, that you're selling to.

(15:50):
So be smart about it. Look at who it is you're serving. Think about where they could be hanging out. So for instance, corporates is, we just used as an example. They could it be all nicotine. So you're going to find those high paying clients are on LinkedIn. If you're, if you're helping professional women, again, they're gonna find them on LinkedIn. But botched back button, there's a big button. This, it sounds like I'm trying to push everyone over to LinkedIn and to working with businesses and corporates because professional women, because they've all got the money. At the end of the day, the bigger the problem or the bigger the ambition, the more people are willing to pay. So regardless of what I just said almost, and yes, we have to look at where people are at in their journey in life and financially and all of those types of things.

(16:41):
And we have to look at what's most important to look at, what is a priority for this person at the moment. Cause like I said, a lot of people would like to live in a mansion, but that might not be their first priority. Yes, that would be lovely. But right now I can't focus on going in a mansion because I'm having to deal with this other problem that's going on in my life right now that takes precedence over that. So as I said was everybody wants to achieve that goal. It's not necessarily everybody's immediate priority. So we have to look at those immediate priorities. And we have to be covered about agitation, which I've also talked about in a few different episodes around agitating that priority, agitating the impact of not taking action on that priority, agitating the impact of when they do take action on that priority because this is the effect that it's going to have on the rest of their life, their business, their finances, their mental health, their relationships and so and so forth.

(17:35):
So agitation is absolutely key to help them realize the extent of their problem or the extent of their ambition. Because a lot of people get gang caught up in all what problem we're solving as so and so forth. It really does panty the type of business that is solving a bleeding neck issue or either type of business that is helping someone build a bridge to something better. Is it a negative thing that's happening for somebody at the moment ?or actually is it just a real need to grow and move forward? And you have to decide which one of those it is in order to, to know where you need to be placing most prominence on, do you want to be paced place in the prominence on the bleeding neck issue because everyone needs to solve a problem. Absolutely.

(18:18):
But all should we be, if you were more of a build a bridge and helping someone achieve something wonderful, is it more of a prominence on, look, you can you want to do this, let's do this and help to motivate people to put prominence on the ambition and the outcome. We all, like I said, need to focus on both things, but which one are we going to have more of a prominent song? Which one are we going to lean more on? So that is how you find high paying clients. Yes, you can be smart about it. Yes, you can look at demographics. Yes, you can think about strategically about who you're, who you're helping. And where those people might be hanging out. But more importantly, it's recognizing that how much money people have is really none of our business because people will find money if they have to.

(19:05):
If they want to more to the point. It's always, you're focusing on those priorities and those big problems or these big ambitions and you're creating something of high value because then we move on to thinking about the other side of the coin, which is if you are in amongst these people, because you are that everywhere, high paying clients are everywhere. Again, you'd be smart about where to find them. But essentially people that are on LinkedIn are also on Facebook as well. There are people absolutely everywhere who are willing to pay good money for something. But what it is, is making sure that you're doing your part on your side of things to ensure that you can attract those people to you. So you want to ensure that your positioning within the market is spot on. That you are seen as somebody who is not necessarily luxury because that's immediately where people think they have to lean towards.

(20:08):
That's one way of doing it. It's also ensuring that you are a trusted go to expert that has solved this problem before that can absolutely help you get the result that you want, that you are a specialist helping people just like them. So it's really important to look at your own positioning and to also look at how you're articulating the value of that high ticket product that you're putting in front of them because you have to be charging high prices in order for high paying clients to be attracted to you because high paying clients want to pay businesses or people that are the expert, the specialists, and if you're charging prices that don't match that positioning level, people get suspicious. They they're savvy. They start thinking, well hang on a second. If they're only charging this amount, am I going to get what I asked for?

(21:09):
High paying clients don't want to gamble with their money. They want to ensure that they get the results that they need. So you need to think about your own positioning and pricing as part of that. Are you charging a high enough amount to be taken seriously at that level? And are you charging that kind of price? Is that to be taken as a serious go to expert in your field? It doesn't mean you can't also have low ticket offers as well, but you have to make sure that you are seen as that market leader, as a business that is unrivaled in the market. So make sure that you're doing your bit to ensure that you can attract those high paying clients. First stages is creating those high ticket products and making sure that you're charging the right prices. It's then making sure that those products and your messaging is all around helping whoever that ideal client might be with the big problem or with that big ambition that it's, that it's designed for specifically for them and that it's designed around those, one of those two things or both of those things.

(22:22):
Because if you can do that, that's going to pull people out of the woodwork, the people who are committed, the people who don't mind spending out because they know that they are going to do everything they possibly can to get the results. That's the kind of people that you want. You want people who are ready for change and and motivated or ambitious or who have had it with the problem they've had and they they want to get it solved and they don't want to mess about trying to half ass it or trying to do it themselves or trying to find the cheapest deal in order to try and maybe see if it gets done. Because if it doesn't know well, nevermind. You want people who are serious and high paying clients are serious buyers. So you have to be seen as a serious contender in the market to ensure that you can pull those high paying clients out of the woodwork and into your arena.

(23:16):
So I really hope that you enjoy this episode. I sat in the dead and again, if you'd like to chat to me around how to start creating these high ticket products, how to start making sure that your messaging hits the spots that you get. Clarity on that high paying ideal clients on where to find them, how to find them, and all the tips and tricks behind the scenes that do. Make sure that you book a call with me to discuss working together on that. The link is bit.ly/claritycallpodcast. It's been a pleasure speaking to you. Again, if you have any questions or you'd like to reach out and just chat by email, the email is jen@jen-hall.com. Great stuff guys. Really looking forward to speaking to you soon and I'll see you in the next episode.

Feb 05

Create a Simple Client Acquisition Strategy to Hit Your Next Financial Goal

By Jennifer Hall | Podcast

Positioning is so important but so is a plan! You need a clear actionable strategy to secure clients if you want to monetise your positioning in the market and in this episode I show you the simple client acquisition map that I take my own clients through.

In this episode we cover:-

  • The key areas you need to think about to secure ideal clients.
  • Why looking at your business model is critical to the sustainability of your business.
  • How to get in front of an audience who will actually buy from you.

Useful Links:-

Book a Call with Jen  – bit.ly/claritycallpodcast

Send your emails to jen@jen-hall.com