How to Land Bigger Consulting Projects and Increase Your Fees

Today, let’s talk about how you can increase your income and how you can earn more consulting revenue.

The fastest way to do that is by landing bigger projects. That is hands down the fastest way.

Land-Bigger-Consulting-Clients

If you can go from, let’s say, earning a $500 project and start turning that into a $5000 project, or if right now your average project size is $5000 and you can turn that into $50,000, hands down increasing your fees and average project size is the fastest way to grow your income.

Now, how do you do that?

2 Ways to Earn More

The first thing that you should think about here is identifying larger clients.

If you can work with larger clients, you can almost instantly start charging higher fees because larger companies are used to paying not only higher fees but they’re also used to taking on larger projects and larger project sizes.

That’s the first thing, is to identify larger clients that you can go after and then start to win larger client business because that will translate into larger project value for you.

Instead, if you can shift that to going after significantly larger clients that are used to investing $2500, $5000, $10,000 a month or significantly more from the exact same type of service you’ll be far better off.

The second thing is to figure out how you can actually start earning more and charging higher fees even with your existing clients.

Adding More Value

There are several different considerations here but a few of them are to look at what additional services or products can you provide to your ideal clients that you’re not currently providing, that you can offer greater value and as a result of that earn greater compensation.

You can also look at starting to implement different types of packaging, different pricing and positioning so that it comes across as that you’re providing greater value, again, which allows you to earn higher fees.

What additional can you add to the mix for your clients, and also how can you position your offers in a way that they are perceived as being of greater value which you can then earn higher fees.

4X Your Fees

Think about what you can do right now to take your average project value and double it or triple it or quadruple it, and what that would look like.

If you’re currently offering an average project value and project size at $5000, what would you need to do to turn that into a $50,000 project? Give that some thought.

Make a Shift

Now, the other recommendation and suggestion that I have for you on this is that your marketing should start to shift.

What I mean by that is you want to really be focused on the type of client and the type of service offering that is going to make you the most money.

If you’re currently providing, let’s say, online advertising management and you’re charging your average client $500 a month to manage their ad account, again you’re using a volume-based consulting business approach.

Instead, if you can shift that to going after significantly larger clients that are used to investing $2500, $5000, $10,000 a month or significantly more from the exact same type of service you’ll be far better off.

Go Bigger

Going from a company that only has 10 or 15 people employed, to focusing on a company that has maybe 1500 or 15,000 people, will allow you to start earning significantly more because larger companies are used to investing more.

It’s much easier to sell at the level of investment that isn’t new for a company.

The fastest way for you to grow your revenues and income to earn more is to increase your average project value.

The value that they can receive from the work that you’re doing – even though the work may be very similar that you’re going to do for a small client or a large client – the value you’re creating because it is a larger client can have a much greater impact.

A 10% increase for a small company and a 10% increase for a larger company in terms of dollars can be significantly different. That’s why you’re able to charge significantly more for that larger company.

Marketing Changes

In order for you to start landing larger clients and larger projects, you also need to shift your marketing.

Your value proposition should change.

Your marketing tactics may need to change. The way that you engage that buyer in a sales conversation may also change.

The actual sales process might change as well. These are all different factors, variables that you definitely want to consider.

Fastest Way to Growth

The fastest way for you to grow your revenues and income to earn more is to increase your average project value.

That happens by two ways – one, by going after the larger clients and second by really focusing on and figuring out how you can earn more with your average project right now.

What can you add to it, what additional product or service, or how can you repackage and re-position your current offering in a way that you can earn significantly more from it?

If you’d like to find out how you can earn more by communicating greater value and packaging and positioning your consulting offer get in touch here.

We’ll talk about what steps you can start taking now to attract ideal clients and convert more of them to paying clients. Details