Setting Up Your Services & Pricing

Crafting Your Service Framework

Outline the core services your agency will offer, such as social media management, SEO optimization, design, or pay-per-click advertising.

Figure how these services align with the pain points of your niche.

Your service proposal will provide both solutions to your clients' pain points and also explain the benefits of partnering with your agency.

Frame your proposal so it's unique.

Example 1: Crossfit Studios

For instance, targeting CrossFit studios, I learned that their free trial offer attracted many individuals who weren't prepared for the high-intensity nature of CrossFit workouts.

The real pain point was that these trial members rarely converted to long-term clients because the workouts were too challenging, leading to a high churn rate.

They needed an approach that attracted individuals who were ready to commit to the rigorous CrossFit regimen. They sought marketing that would pre-qualify leads by clearly communicating the physical demands and the commitment required for success in a CrossFit program.

Example 2: Dog Grooming

In researching the dog grooming industry, it became clear that their main challenges were stiff competition and difficulties in ranking high on search engine results.

Many lacked a robust online presence, had bad websites, and weren't utilizing SEO effectively to stand out. Additionally, they often missed potential bookings due to insufficient staff to handle calls.

The proposed solution was a comprehensive package focusing on creating a user-friendly, SEO-optimized website, improving local search visibility through strategic use of keywords and listings on Google Business Profile and Yelp, and integrating an efficient online appointment booking system to capture leads without needing staff intervention.

Making Your Offer Unique

How do you make your offer unique?

Give your offer a name.

These business owners are always hearing pitches on "qualified leads." "more SEO," "a better website." When you say it this way, they know exactly what you're offering.

But again, you want to make it unique.

For example: GroomBoost Local SEO & Web Design Package; FitLead Surge Package.

Retainer VS Fixed Rate

• Retainer — Great for ongoing work and provide predictable income and client relationships. They're ideal for services like monthly maintenance, social media management or ongoing SEO or lead generation.
• Fixed-Rate — Work well for projects with a clear scope and end date, like website builds, design re-brands, or campaign launches.

What to consider when pricing

1. Understand your costs
2. Your value proposition & expertise
3. Niche dependency
4. Client budget
5. Flexibility in your model
6. What are people currently charging?
7. Scalability

Done for You VS Coaching

Done for You

Full-service solution where the agency handles all aspects of the client's marketing efforts.

Advantages:

• Hands-off for the client
• Expert-driven results
• Time-saving

Ideal for:

• Clients without marketing expertise
• Businesses looking to outsource completely

Coaching

The agency guides the client through the marketing process, providing strategies and advice but the client executes the work.

Advantages:

• Empowers clients
• Builds client's marketing skills
• Cost-effective for clients

Ideal for:

• Clients who want to develop in-house marketing skills
• Smaller businesses or startups with limited budgets

Pricing Benchmark

To determine your pricing, start by defining your target hourly rate, considering factors like your expertise, costs, and the value you deliver. Agency rates can span from $40/hr for basic services to thousands per hor for top-tier agencies with specialized expertise.

Research to understand the market spectrum on platforms like

• Fiverr
• Upwork
• LinkedIn
• Polywork

Look at what others charge for similar services, and evaluate where you fit based on your unique offerings. Be mindful of the high-end rates established by large agencies, which can guide you in competitively positioning your services without undervaluing your work. Remember, your rate should reflect not just the market average but also the distinct value and results you bring to your clients.

Making a Personalized Offer

1. Define Your Prototype Client: Envision a single ideal client. Who are they? What specific problems do they face?
2. Develop a Tailored Solution: What unique services can you provide to solve their problem?
3. Demonstrate Expected Outcomes: How long will it take to see results, and what kind of results can you promise?
4. Offer Twist: Add a unique element that sets your service apart. Consider complimentary setups, a free test trial, documentation.
5. Communicate Unique Value: Articulate why your offer is not just different, but better. How does it directly address the client's needs in a way no one else can?

Getting Feedback & Iterating

• What are the most frequent concerns raised by clients? (Is it cost, the efficacy of the solution, etc.?)
• What are the genuine desires and needs of your niche market?
• What trends have you noticed in the outcomes of your client interactions?
• Are there any recurring patterns or themes in client feedback?
• Make it a practice to record and review client consultations. (Note what resonates with clients and what falls flat.)
• What conclusions or theories are you forming about your target market's response to your offer?