Podcast Summary
Designing a retainer-based program for five-figure contracts: Create procedures, implement controls, and simplify processes to offer best practices and potentially turn a five-figure project into a six-figure contract.
Creating a successful five-figure contract or project involves designing a retainer-based program focused on delivering specific outcomes. Justin, with decades of experience in marketing, business development, project management, and risk management, shared his methodology for developing such a program. He emphasized the importance of creating procedures, implementing controls, and simplifying processes through marketing automation or data flow. By doing the work once and improving on its implementation, services providers can offer best practices and potentially turn a five-figure project into a six-figure contract. This approach not only helps in delivering high-value services but also in building long-term relationships with clients.
Focus on results, not just content creation: Offering solutions to help clients generate and retain customers, rather than just producing content, increases value and justifies higher fees.
The value we provide as content creators goes beyond the content itself, and lies in the results we help our clients achieve. Companies today are struggling to get customers and keep them profitable, and offering a solution to this problem makes us more valuable than just producing content. Our worth is measured by the number of new customers we help generate, the leads we convert, and the repeat business we secure. Many clients are willing to pay substantial fees for these results. However, it's important to remember that clients value the impact on their business, not just the content itself. Therefore, it's crucial to focus on the outcomes and the value we bring to the table. The 12-month lead acceleration program is an example of a service built around results, not just content creation. It's designed to increase the number of leads that convert, apply offers to move them to the next level, and ultimately, help our clients grow their business.
Tailor marketing efforts to decision-makers' priorities: Identify desired outcomes, address stakeholders' needs, measure sources of leads and sales, build a team, and implement effective content strategies to convert leads into profitable customers.
To effectively convert leads into profitable customers, it's crucial to understand the decision-makers' priorities and tailor marketing efforts accordingly. Begin by identifying the desired outcome, such as increasing profits in a consistent manner. Consider the specific needs and goals of stakeholders, and communicate how your solution addresses those needs. Measuring and attributing sources of leads and sales is essential for scaling and creating long-term cash flow. Building a team and implementing content strategies, marketing metrics, and source attribution can help bring clients through a sales funnel and ultimately lead to successful conversions. Remember, the goal is to create value for the client and provide a consistent, passive source of revenue for your business.
Expanding Your Freelance Business: To secure larger contracts and transition into passive income, offer more value by building a team, delivering consistent quality, and recognizing the need for subcontracting.
As a freelance copywriter, to secure larger contracts and transition into passive income, it's essential to offer more value beyond just writing copy. This can include compliance, research, and expertise in specific industries or topics. By building a team and delivering consistent, high-quality work, you can handle multiple contracts concurrently and provide long-term value to clients. This approach not only justifies higher fees but also leads to repeat business and referrals. Additionally, it's important to recognize that larger projects may require subcontracting certain tasks to subject matter experts, ensuring that you maintain the necessary expertise and capacity to deliver on client expectations.
Secure multi-month retainers for steady income and growth: Long-term retainers provide a steady income stream, allow for effective subcontractor management, and enable the transition from freelancer to business owner
To build a successful freelance copywriting business or small agency, it's essential to secure multi-month retainers instead of relying on one-off projects or small assignments. This approach provides a steady income stream and allows you to hire and manage subcontractors effectively. However, it's crucial to understand that even with modern technology and AI tools, your direct attention is still required for strategic growth and success. When you take on a client for a 12-month retainer, you're setting them up for success while creating a parallel path to measure their progress. Remember, you can't do everything for them, and they may not want to replace their existing team. Moreover, hiring subcontractors can be a game-changer. Having a team of reliable subcontractors ensures that you're not left in a lurch if one person underperforms. However, it's important to note that even with AI tools, human oversight is still necessary. By focusing on long-term retainers and effective subcontractor management, you can transition from being a freelance copywriter to the owner of a profitable business, with the ability to fund your retirement account, pay for health insurance, and reinvest in growth.
Enhancing teams through external help: Effective post-sale engagement is crucial for winning market share. During onboarding, identify areas for improvement and provide clients with tools and training to enhance their team's capabilities.
During the onboarding process, it's essential to help clients understand that bringing in external help isn't about replacing their team but enhancing it. The goal is to extract the best from what they're already doing and introduce new systems and controls to improve consistency and implementation. Many businesses overlook the importance of follow-up campaigns and customer engagement after a sale, leading to missed opportunities. During the onboarding process, conducting an audit to identify areas for improvement, such as post-sale engagement, can make a significant difference. Competitors who excel in this area can win market share, even with inferior products. Therefore, it's crucial to educate clients about the importance of effective post-sale engagement and provide them with the tools and training to implement it.
Identifying quick wins and preserving what's working in the first month of a marketing consulting program: In the initial phase of a marketing consulting program, the consultant gathers crucial information to identify quick wins, document complaints, and assess the client's marketing situation. They deliver a comprehensive report with findings, best practices, and a list of offers for the client to reassess their marketing strategies.
The first month of a 12-month or six-month marketing consulting program focuses on an intensive information-gathering session. This is where the consultant identifies the client's target audience, key offers, and existing lead funnels to find quick wins and preserve what's working. The consultant also documents all complaints to address communication issues and improve overall business performance. This process reinforces the value of the consultant's presence and provides the client with a clear understanding of their current marketing situation and potential areas for improvement. The outcome is a report of findings, best practices, and a list of offers, which the client can use to reassess their marketing strategies. This process is similar to what a copywriter does, but the difference lies in the delivery of a comprehensive report and the identification of problems.
Setting the stage for success with an initial marketing analysis: Providing a comprehensive marketing analysis as the first deliverable sets the stage for a successful project, giving both client and provider a clear understanding of current situation and potential for improvement.
During the initial phase of a marketing project, delivering a tangible and valuable milestone, such as a comprehensive analysis of existing marketing efforts, can set both the client and the service provider up for success. This deliverable, often in the form of a physical binder or digital PDF, can include identified common problems, responsible parties, and best practices, as well as a reference swipe file of successful campaigns. This first month's worth of work provides a sense of value and progress, even if the project continues for several more months. By focusing on this initial deliverable, the client gains a clearer understanding of their current situation and the potential for improvement, while the service provider establishes a strong foundation for the project's future direction.
Creating a High Ticket Package Service: Creating a high ticket package service can attract long-term, profitable clients, contributing significantly to business growth. Resources and assistance available at www.adbriefings.co.uk.
Creating a high ticket package service is crucial for attracting long-term, profitable clients. Justin Hit discussed the importance of this in the first part of the series, which included ad briefings and copywriting tips. For those interested in developing their own high ticket package, resources and supplemental materials are available at www.adbriefings.co.uk. Don't miss out, as the URL for part two will also be shared. Overall, the passive and active income gained from such clients is invaluable and can significantly contribute to the growth of a business. If you're a coaching client, Justin offers personalized assistance to help you get started. Stay tuned for more insights in the upcoming sections.
