I lost thousands by not pitching tiers of video/photo packages.
I’m writing this to tell you: don’t make the same mistake as me.
Seriously.
I missed out on thousands of dollars by only pitching one solution at one price to clients for at least two years.
Sometimes making money is really hard. And then sometimes it’s really easy, but it’s all in how you present yourself.
I’m going to teach you one of the easiest ways to make more from your proposals and all it takes is a few more minutes of writing.
Here we go:
Step 1: Avoid this approach
When a prospect comes to you and says:
“We need a 2 minute brand video to go on the homepage of our new website, how much will that cost?”
Don’t do this…
“Hi prospect, take a look at my proposal of one brand video for $5,000.”
That’s the mistake. Pitching one solution at one price.
Don’t do that.
I did that for a few years, and while it felt good in the moment because I was selling, it resulted in less money I could’ve received because I didn’t offer more options.
So, literally all you need to do is this:
Step 2: Offer Tiers/Packages
Let’s run that scenario back but offer the prospect more…
“Hi prospect, take a look at my proposal. Inside you will see three video packages with various levels of deliverables and impact:
• Tier 1: full day filming, one brand video, $5,000
• Tier 2: full day filming, one brand video, 3 social cuts, 50 high res images, $7,500
• Tier 3: 1.5 days filming, one brand video, two testimonials, 3 social cuts, 100 high res images, $11,200”
What are we doing here?
Three things:
Anchoring - we’re giving our prices and our services context. This helps the client understand what it looks like to work with us at various levels and our lowest tier doesn’t look too big in context with everything else.
Pitching - we don’t know our client’s budget yet, so who knows, they might have more to spend. Let’s give them options in case there’s more that they truly want. That’s a win-win. They get more, we get paid more.
Conversing - we’re opening them up to further conversation, which is what sales is all about. Let’s discover if there’s anything else we can help them with.
Story time:
Within the last week I had a prospect ask for multiple deliverables:
• One brand video
• Three testimonial videos
• Facility tour video
When I got on the phone with them I discovered their budget was $5,000. I told them on the phone we couldn’t create all of those videos within that budget, but I would propose what we could do.
So I took my advice and I pitched them a few tiers.
I show them what $5,000 could get them. I showed them how much it would cost to do everything they wanted. And I showed them some more.
The client reviewed the proposal, thanked me for all of the details, and then asked if I could quote the first tier with one more deliverable added. I did.
We landed around $6,200. Signed.
That’s a win of $1,200 more.
All because I presented tiers.
Don’t believe it’s that easy?
Try it on your next proposal.
Don’t be scared to let your top tier be a bit crazy high.
(Of course, make sure there’s enough value for that high price, don’t just scam people.)
If you find success with this strategy, please let me know by shooting me an email: trent@mediabyerwin.com
ACTION:
Propose tiers
Anchor your prices and get conversations going
Land more budget
Cheers my friends,
-Trent