24 Oct How To Ensure You And Your Clients Get Maximum ROI
For years now the business world has been a little obsessed with the concept of adding value to your sales efforts. Often called ‘value-added selling’, the notion is really simple: provide your clients with even more value to ensure they get the maximum return on their investment. This, in turn, will ensure they adore you, your products and your services, and not only come back to you again and again, but shout about you from the rooftops.
In short, giving your clients the maximum ROI possible will allow you to develop repeat business (and thus regular income) and consistently grow your client base (increasing that income).
[Tweet "When your clients are happy, you’re happy, and so is your bank balance.”]
Although this is a really simple concept at face value, the modern world has seriously crowded the market. With so many people offering pretty much the same thing you are, adding value isn’t just about growth and consistency in your income; it’s the difference between success and failure.
This makes it doubly important but also doubly difficult to give your clients maximum ROI, because any savvy marketer understands this seemingly-simple concept.
The more value your competitors add to their products and services, the more you must add to yours in order to simply keep up, let alone make your offerings stand out from the crowd.
What Exactly Is ROI?
Before we dive into exactly how you can ensure your clients are getting maximum return on their investment with you, it’s important to understand precisely what we mean by ROI.
Technically speaking ROI is a calculation:
For example, if you run a Facebook ad campaign that yields $10K in profits, and required an investment of $1K, you would calculate your ROI by subtracting your investment from your profits, and dividing the result by your investment:
The resulting number, 9, may seem really arbitrary, but ROI is expressed as a percentage, so you need to multiply that 9 by 100.
In this instance, the return on your investment would be 900%, an extremely impressive result!
But in marketing, the reality of ROI is a lot more complicated. For one thing, you need to be absolutely certain you fully account for everything you invested. It’s not just about money. It’s also time, resources, materials, and if you want to really dig down deep, the emotional investment and mental toll it took.
Some forms of marketing are really stressful.
How do you quantify that stress to calculate the return you got?
In other words, how much money makes enduring that stress worthwhile? Does any amount make it worth it?
And how valuable is it to find a method, product, or service, that enables you to do something with zero stress?
Often these are the things people value the most – things that make their lives easier, and better.
Things you can’t put a dollar amount on.
When you’re considering how to ensure maximum ROI, either for yourself or your clients, bear in mind that not all returns are monetary, and sometimes the non-financial ones are the things people value most.
Once you’ve wrapped your head around that, here are 9 ways you can ensure your clients have a value-rich experience, and 1 to make sure you are getting the best return possible on your own investments.
To help you out, I’ve created a FREE ROI Checklist you can download to make sure you don’t miss a trick.
#1 Adopt An Expert Stance And Uber Professionalism
Consider the highest paid professions in the world: medical professionals, financial firms, lawyers. The one thing they all have in common is an extremely high level of expertise, and the fact they are held to an exacting standard of professionalism.
They command such high prices because of the value of their knowledge, which is simply unavailable elsewhere, and the reassurance that they will behave in a certain manner.
Doctors, lawyers, and accountants are all bound by very strict sets of rules. Breaking those rules doesn’t just result in a dock in their pay, or a loss of a single job.
It can end their careers, incur hefty fines, or even land them in prison.
As a result of those rules, we are confident they can be depended upon to act in a professional manner.
More than that, when a person’s expertise is directly tied to their ability to effectively obey those rules, we feel confident they do everything in their power to ensure that expertise is intact and up-to-date.
This allows us to feel comfortable paying them exorbitant fees.
We’re confident we will see a good return on that investment.
These are extreme examples but it’s a truth we often fail to register: the more professional a person is, the more we value their work, and the higher the level of expertise is required for a job, the more confident we feel that we can depend on that professionalism.
The value your clients’ experience when they work with you will be greatly enhanced if they feel confident in your expertise, and see you are a consummate professional.
Take every available opportunity to demonstrate your expert knowledge, so that your clients feel completely confident they are in the hands of the best.
If they believe you are the best at what you do, and trust you to always act in a professional manner, they will value you, and what you do for them, more.
#2 Bundles And Packages
There’s a lot to be said for making your products and services look good, but packaging them up goes beyond that, and still applies to services that aren’t tangible objects.
You should aim to put together the best possible packages, perfectly tailored to your ideal client.
[T[Tweet "Packaging up your offerings adds instant value to them, because your clients are automatically getting more.”]p>
Think of things that complement your offering, which can easily be added without draining your resources.
For example, can you record a video tutorial demonstrating the setup and use of your product, or explaining how to get the most out of your service?
Other things you should consider bundling together are bonus materials such as PDFs and other downloadable resources, and extras that aren’t available any other way.
#3 Levels Of Service
When you’re packaging up your bundles, consider whether you can work different levels into your offerings.
For example, I offer digital marketing packages at bronze, silver, gold and platinum level, with varying degree of support in each. The higher the level of service, the more value my clients receive, but it’s simple for them to decide the level of value they require, and the investment they’re willing to make.
I have similar systems in place for my social media management packages.
#4 Frequent Buyer Rewards
We’re all familiar with the concept of frequent buyer rewards – the points you earn every time you shop at your favourite coffee shop, supermarket or clothing store, or frequent flyer miles. It’s a simple enough notion to understand.
It’s also become so common that people expect it.
Without some form of reward for regular/frequent customers, they may feel your services lack value because you’re failing to value their loyalty.
How can you reward your most loyal clients? Here are a few ideas:
- Flash sales and discounts that are only available to them.
- Finding ways to reduce the cost to your clients as you scale up your business (i.e. when you start buying in bulk, or hire a full-time employee because it’s become more cost-effective than outsourcing, pass those savings on to your clients.)
- A points system that awards a set number of points for every purchase or month of service, and allows your clients to ‘buy’ certain things with their points.
- Unexpected gifts at set times of the year. (i.e. sending out Christmas cards and small gifts, or little bonus gifts at New Year, your birthday, or the company’s birthday.)
- Mark major milestones in your growth by rewarding clients with a big bonus. (i.e. when you hit a certain number of members in your Facebook group run an exclusive webinar for group members.)
#5 Provide A Way To Measure ROI
Perhaps the easiest way to ensure your clients are getting maximum ROI is to provide them with a super-simple way of measuring it.
More often than you might think, clients feel dissatisfied with the return they’re receiving, not because it’s poor, but because they have no way to quantify it. Without a clear understanding of exactly what return you’re getting, it’s really easy to feel you’re not getting enough.
If you’re offering a performance-based service, provide regular progress reports to ensure your clients are fully aware of exactly what you’re achieving for them. Use surveys to prompt them to compare their current issues and what life is like now to the situation they were in before they started working with you.
#6 Educate And Transition
Helping people ease into change is crucial to ensuring they feel confident in it. When you’re onboarding a new client, make sure you have a system in place to make the transition as easy as possible for them. It’s also important to have plenty of great content available, to educate them on your methods and practice, and how to get the most out of your products and services.
They may not all want to learn – a lot of people prefer to leave someone else to deal with it, and never think about it – but simply making them aware they have the option will do wonders for increasing their perception of the value you offer.
More than that, properly educating your clients will guarantee they are fully aware of all the benefits they are receiving, and exactly how much those perks are worth.
It’s a win-win!
#7 Dedicated Personnel
This is particularly effective if you offer a service that has several different components to it. If you’re a one-(wo)man-band it won’t be an option, but if you have staff, or outsource certain things, it pays off to make your clients aware of this.
Let them know if you have a dedicated expert who deals with a particular area.
Let one person handle all your customer service.
Tell clients who to ask if they have questions about different elements, and be sure to properly introduce them to any members of your team. If they will be working with clients directly that should be a literal introduction. If not, simply having a ‘Meet The Team’ page on your website is great for demonstrating your value.
It also helps to allocate big clients to specific people. If you’re not working one-on-one with a client yourself, but they have an ongoing project or service, giving them a direct point of contact with a real person they can get to know is a great idea. It might be the person doing the most work for that client, or the person who manages the particular service they are on.
It may be that there is no practical need for it, and you can simply divide your big clients up equally among team members. That way, every client feels they are well cared for, and no single person is overwhelmed by trying to juggle every single client.
#8 Quality, Speed And Convenience
Look at the quality of your offerings. How can you improve them, how can you make yourself stand out in this regard? Consider what your ideal clients will look at when judging the quality of your services, it may not be what you expect.
One of the easiest ways to boost your quality is to find ways of delivering the same excellent standard, but in a more time-efficient manner. People don’t like to be kept waiting. Faster delivery increases the value of your offering, even if the product or service itself is unchanged.
The exception to this is something like an eCourse, which can be overwhelming if delivered too quickly. For anything that has the potential to overwhelm if sent to quickly, check to ensure your timing is spot on.
Linked to this is your ability to provide your offering in the most convenient manner possible – not for you, but for your clients.
Consider that people are willing to pay more for exactly the same produce from a local store, compared to a larger store on the opposite side of town, because it’s more convenient. Likewise, they’re happy to pay extra to have items delivered to their house at a set time, because it allows them to select a time slot that’s most convenient.
Be flexible in the manner you deliver your offering – is there a particular time, day, or delivery method that will make life as easy as possible for your clients? Do different clients need slightly different methods to ensure you’re catering to their individual needs?
#9 Client Journey
Think of the experience your clients have as a whole. From the moment they first discover you they embark on a journey that will carry them through to making a purchase or hiring you, using their item or service, and choosing whether they will work with, or buy from you again, and whether they will write you a glowing review and recommend you to their friends and family.
[Twe[Tweet "The client journey isn’t just about landing the sale, it’s about ensuring your clients are as happy as possible.”]
This will naturally increase the value they find in your offerings, which in turn increases the likelihood they will recommend you, leading to business growth.
Look at every stage of your client’s journey and consider how it can be improved to make the ride as smooth and enjoyable as possible for them.
How To Ensure YOU Get Maximum ROI
Let’s face it, your clients aren’t the only ones who like to know their investments pay off. Consider the current investments you are making in products or services for yourself and your own business, and ask yourself these questions relating to each:
- Are you buying from an expert and consummate professional?
- What bundles and packages are available?
- What levels of service are available?
- Are there any rewards for making frequent purchases?
- Is there a way to easily measure your ROI? (i.e. reports, statistics, etc.)
- Do you fully understand how the product or service works, what it’s benefits are, and why it’s the best option for you? Was the transition smooth and easy or complicated?
- Are there specific people you can talk to who are experts in each individual element?
- What’s the quality like, and were you able to check this before buying? (i.e. do they have great reviews, testimonials, etc.)
- How quickly is it delivered, and is that soon enough for you to get maximum benefit from it?
- How convenient is it for you to purchase?
- What has your experience been like thus far on your journey with them? (If you’ve yet to experience any direct contact, test them out – as them questions and see how they respond.)
Download the FREE ROI Checklist so you can start boosting the value both you and your clients receive.
Strategic Optimisation + Growth consultant for lean start-ups and change-making entrepreneurs enabling them to grow their business in a sustainable and profitable way. My super-powers are business optimisation, CX, SEO, and leveraging data insights for business growth. #fuelledbycoffee