First things first…anyone who knows me knows that I strongly recommend NOT charging by the hour.
I see people asking/talking/musing about hourly rates over and over again.
Am I charging too much? Too little? Will my clients be in an uproar if I change my rates? Is it worth it?
And it makes me really upset, because I know that this approach is why you’re still broke.
You’re trading time for dollars, and it keeps you stuck firmly where you are in the land of 80+ hour workweeks, wasted time, irritating clients and missed business goals.
It’s stressful, amiright?
Not meeting revenue goals and not having predictable recurring income is the perfect recipe for anxiety & sleepless nights.
And when you’re stressed and tired, you’re…
- Not performing your best
- Not making decisions that help your business thrive
- Not living your best (aka ONLY) life.
If you are struggling right now to meet your income goals and working waaaaaay overtime for little payoff, I’m going to tell you exactly how you can add $10k+ to your regular monthly revenue.
No, it’s not working more.
It’s not spending obscene amounts of money on ads.
It’s not sabotaging your competition.
The way to solve your business/income/energy woes immediately and forever is by creating premium monthly retainer packages.
Whether your Super Power is coaching, bookkeeping, consulting, digital marketing, virtual assisting, or crystal-ball fortune telling, making the switch to monthly retainers is going to make THE difference in your business growth.
If you’re ready to feel more confident about your sales…
If you’re ready to create a business that excites you…
If you want a bank account that makes you smile…then it’s premium monthly packages for the win.
What is a Premium-Priced Retainer Package?
A Premium-Priced Retainer Package delivers high-quality services to your clients on the regular.
This package reflects the value of your services, the outcomes you provide, and the level of your expertise.
It does not reflect the time you spend or methods you use in getting to the Big Results you promise.
Think about this: the more you do something, the more efficient you get, right? The more efficient you get, the faster you become. The faster you become, the fewer hours you can charge for your services. The fewer hours you can charge, the less income you generate.
If that seems completely a$% backwards, that’s because it is!
Your Premium offer reflects the transformation you provide, packed with value that delivers an ROI.
Packaging your services this way automatically differentiates you from your competitors, and attracts the type of client who is looking to make an investment that she/he can get a return on.
Want to learn more about the psychology behind Premium Pricing? Bonus reading: Why You Should Charge Higher Prices for Your Services
How To Make The Switch To Monthly Retainer Packages
Start here: How can you make your clients’ lives and/or businesses easier on the regular?
Take your Premium Priced offer, and mold it into a service that your clients would no-doubt benefit from on an ongoing basis.
If you can simplify a solution for them, or take something off their plate, you have a perfect recipe for monthly retainer packages.
> Physical Trainer: Make the switch from hourly sessions to monthly packages with 2x weekly sessions and/or calls.
> Virtual Assistant: Rather than charging by the hour, give a monthly rate and list your expertise/services along with available timeframes.
> Business Coach: Create evergreen content that can be delivered each week, along with regular check-in calls and a commitment minimum.
Other possibilities include strategy talks, implementation, content creation, reporting, webinar access, software access, Facebook group access, etc.
It’s all about making packages that deliver high quality services — that your clients crave and find value in — on the regular.
And the more you practice, the better you’ll get at what you do. The better you get, the more efficient you become. The more efficient you become, the more TIME you have to do the things and be with the people you love.
Remember, this approach is actually better for your clients, too.
Monthly retainers help keep your clients from having to worry about their Big Problems, and help them to budget for the long-term. No surprises, no arguments over how long this project took versus how long that project took.
Plus, you’ll be able to learn, morph, and deliver better results if you work with them on an ongoing retainer.
When you deepen long-term relationships with your clients via monthly packages, you stay at the top of their minds for additional services, and they’re more likely to think of you immediately for referrals, too.
More on creating your own referral program here >> Word of Mouth Marketing: How to Get More Clients With a Referral Strategy
So think about the products/services you currently offer. Then ask yourself some of these questions to get started:
- Are there services my audience has been asking for?
- What problems do they have that I can help solve consistently?
- What is the minimum amount of time I need to deliver my Big Results? Is it a three months commitment? Six months? A year?
- How can I transform my current offerings into monthly retainer packages?
- How can I price them so that I’m meeting my income goals and delivering jaw-dropping value?
Helpful Tools for Monthly Retainer Packages
When moving to a monthly retainer model, you’re gonna want some tools in your back pocket to make your life — and your clients’ lives — easier.
Remember, you’re working smarter not harder, here.
Here are a few things to consider:
- Screen Sharing: if your monthly package involves live video chat rooms, you might want to employ a tool like Zoom or Google Hangouts.
- Video Content: consider which platform is going to be optimal for delivering your content, such as Vimeo, YouTube, or Facebook Live
- Group Access: if you plan to have a community aspect included in your retainer, you might need a forum for discussion, like a private Facebook Group or Slack channel.
- Email Marketing: choose a provider that’s going to deliver your content when and how you need it, whether it’s via automations (which I highly recommend), or segmented weekly newsletters.
- Payments: you may also want to find a payment processor that can handle automatic monthly payments or withdrawals, and save yourself time spent invoicing and billing.
Start Growing and Stabilizing Your Income
Your experience, your skills, your heart, and your unique know-how aren’t cheap. And the work you do isn’t cheap either.
When you move from charging $30, $50, $75 per hour (or more!) to charging for monthly retainer packages, you will see your income and quality of life dramatically improve.
Your shiny new packages priced at $3K, $4K, $5K or more are going to deliver a win-win for both you and your clients.
And if you’re truly delivering ongoing transformational results, they’re still going to feel like it’s a steal. Because the cost of not hiring you is too great.
Ready to start packaging your services and securing the kind of monthly income that supports the business and lifestyle you’ve been dreaming about?
Good. Because I can’t wait to help you.
Schedule a breakthrough call and let’s start talkin’ about how I can deliver transformational results for YOU. With your ambition and my background in helping entrepreneurs reach next-level success, we’ll get you on track to adding recurring monthly revenue to your business and kissing the days of hour-by-hour hustling goodbye.