- Learn how to value your products or services so that you can offer clients the right value at the right price
- Understand why showcasing yourself and your ideas at your event rather than getting more speakers is crucial to your business’ growth
- Find more about the 10x price space and how it will help you gain new clients and the profit you deserve
- Wanting to Learn How You Can Plan, Produce and Profit from Your Own Digital Events? Find out more about the secret formulas and key elements you need to know about when doing your own digital event: JoinPride.com/MTI
Have you been trying to figure out how to drastically bump up your services?
Are you struggling to price your services based on their value and just end up trying to swoon clients in with your underprices?
Do you want to know how you can maximize your service and bump up your business up to 7 figures while gaining new clients?
For over a third of a century, Ken Krell has inspired thousands of people from all over the world by sharing powerful ways to create wealth, prosperity, and happiness in their lives.
In this episode, Ken talks about how you can make an offer that can guarantee your clients won’t be able to say no to it. He also shares his tips and insights on how digital events are faster, easier to deploy and lesser risk to take when wanting to gain new clients and more profits.
Check out these episode highlights:
- 01:23 – Ken’s ideal client: “Obviously, speakers, authors, coaches, consultants. People with a message to share.”
- 01:33 – Problem Ken helps solve: “The biggest problem that most of these folks have is how do you market your programs? How do you market your products? How do you get the best price you can get?”
- 02:09 – Typical symptoms that clients do before reaching out to Ken: “A lot of them have imposter syndrome. They don’t value themselves the way they need to be valued. They don’t recognize the effect that they have on others where they could ultimately price significantly more.”
- 03:00 – Common mistakes that people make before they find Stephen’s solution: “Probably among the biggest things I’ve seen is if they run an event, they bring in so many other speakers to add value that they don’t get to showcase themselves. So to some degree, it’s a feeling of security that they have all the other speakers, but they shoot themselves in the foot.”
- 05:04 – Stephen’s Valuable Free Action (VFA): “I want to start with the money break. That’s sort of the money piece, what value do you add to your clients? Let’s get to that fundamental. So certainly, if you’re in a hard type of thing, or tangible thing, so, you know, you’re doing some with investments.”
- 07:02 – Stephen’s Valuable Free Resource (VFR): Check out Stephen’s Mini-Course: JoinPride.com/MTI
- 07:35 – Q: Why digital events? A: And the biggest reason real quickly is faster, easier, less risk, more fun, better to deploy, you win.
Tweetable Takeaways from this Episode:“People really buy based on value, not based on price, and you don't need to compare with anyone else because you are unique.” -Ken Krell Click To Tweet
(Note, this was transcribed using a transcription software and may not reflect the exact words used in the podcast)
Tom Poland 00:10
Greetings, everyone, and a warm welcome to another edition of Marketing the Invisible. My name is Tom Poland beaming out to you as ever from little Castaways Beach in Queensland, Australia, joined today by Ken Krell. Ken, a very warm welcome from down under here. Whereabouts are you hanging out?
Ken Krell 00:25
I’m in Sydney, so I’m just down the street, sort of.
Tom Poland 00:27
Are you? Just down the road!
Ken Krell 00:28
Tom Poland 00:30
Just throw a pebble out the window.
Ken Krell 00:33
And were at lockdown. Life is good,
Tom Poland 00:34
Folks, Ken and I connected a while ago and just clicked! You know, the report was flowing, the conversation was flowing, so I wanted to have him on my show. For those of you who don’t know him, however, for over a third of a century, which sounds like a very long time, and it is, Ken has inspired literally thousands of people from all over the world by sharing really very powerful ways to create wealth, prosperity and happiness in their lives. This brings us quite nicely to the title of this which is, “How to Give Your Coaching, Consulting or Speaking Business a Seven-Figure Bump in a Weekend. So that should get your attention because it certainly got mine. Ken, our seven minutes is going to start now. Sir, let’s go to question number one. Who is your ideal client?
Ken Krell 01:23
Obviously, speakers, authors, coaches, consultants. People with a message to share.
Tom Poland 01:27
Perfect! A message to share. Question number two is what’s the problem you solve for them?
Ken Krell 01:33
The biggest problem that most of these folks have is, how do you market your programs? How do you market your products? How do you get the best price you can get? How do you change and transform most people? How do you scale better?
Tom Poland 01:44
Right. So, it’s all about scalability, serving more people, and there are consequences to that, bank account balance is going to grow quite nicely as well, I imagined. Question number three, six and a half minutes left. What I’m after here are the typical symptoms that your ideal clients are going to be experiencing before they start working with you. What’s going on in their business or their life where they’re thinking where that’ll give them a bit of a heads up that they should find out more about what you do?
Ken Krell 02:09
A lot of them have imposter syndrome. They don’t value themselves the way they need to be valued. They don’t recognize the effect that they have on others where they could ultimately price significantly more.
Tom Poland 02:19
Ken Krell 02:19
And that’s just one of the biggest shifts I need to do with folks is that they recognize that. They also- a lot of them are intimidated by the thought of going into digital events, which is what we’ll be talking about. And so, they think it’s not for them or it’s dying. Just out of misconceptions is the biggest mistake. They think too much.
Tom Poland 02:35
Right. And you know, as Mark Twain said, “It’s not the things we don’t know that hurts us the most, it’s the things we think we know that just isn’t so.” So, let’s go to question number four, we got five and a half minutes left. What I’m after here are the common mistakes. So, you’re talking about coaches, trainers, these are people who want to help people. They’re growth orientated. They’re going to try stuff. So, what do you see as some of the common mistakes that people try before they find your solution?
Ken Krell 03:00
Oh, gosh, that’s a three-day conversation! Probably among the biggest things I’ve seen is if they run an event, they bring in so many other speakers to add value that they don’t get to showcase themselves. So, to some degree, it’s a feeling of security that they have all the other speakers, but they shoot themselves in the foot. Or they’ll do events with the wrong structure that’s not a winning structure. I mean, I’ve been doing this- it’s really 40 years, sort of a sound tree sounds better, but it’s been 40 years. So, we have a system that works. And they don’t follow that system because they don’t know that system. They don’t plan. They don’t strategize. They don’t price properly, as well. I mean, massive mistakes in pricing, where people really buy based on value, not based on price, and you don’t need to compare with anyone else because you are unique. And they forget that. That massive mistake is that.
Tom Poland 03:49
Right. So true!
Ken Krell 03:50
If you knew what value you are providing, you’d have no problem. And then you can make an offer with feeling good and feeling comfortable with it and not feel cheeky, or, or creepy or anything.
Tom Poland 04:01
Right. And this goes back to the imposter syndrome you mentioned before. So, there’s a lot of strategic things you mentioned there about, you know, promoting themselves at their own event, not too many other people, the pricing, and so on. And it sounds like one of the common mistakes, therefore, is rushing into the tactical, the execution before they’ve got the strategy ducks in a row, so to speak.
Ken Krell 04:20
And the other ones are they over tech. I mean, I have a friend that just did his first event, first diplomat this weekend. I mean, the room of all the tech he put in place, he didn’t need it. I mean, this is my set right here. We don’t count and need massive dollars to palm trees, right? Sure. And a camera.
Tom Poland 04:38
And a good mic.
Ken Krell 04:38
With my dining room table.
Tom Poland 04:39
Yeah. Yep. I’ve seen the same deal, over tech. Tech for the sake of tech and not required. So, let’s go on to question five, which is where we start adding value to people. We’ve set the scene now. People are hopefully going to be there is a pricked up and go, “Oh, yeah, that could have been made.” One valuable free action, like a top tip. If you could tell our coaches, trainers, consultants, a step in the right direction they could take, what would that top tip be?
Ken Krell 05:04
I want to start with the money break. That’s sort of the money piece, what value do you add to your clients? Let’s get to that fundamental. So certainly, if you’re in a hard type of thing, or tangible thing, so, you know, you’re doing some with investments. You know that you can add another $100,000, for example, to their bottom line if you work with them, or the average person you’ve helped has created that, then look at how you price. If you have a $5,000 program, but you’re giving them $100,000 worth of value, you’re way underpriced! I want to price space at like 10x what I want to give people. If you’re in an intangible situation like you do marriage counseling, or self-esteem, or weight loss or whatever, what does that translate to in terms of value? What’s it worth to them to wake up in the morning bouncing out of bed feeling great, as opposed to falling out of bed feeling lousy? There’s a tangible number that you can associate with that. What’s that? And, if you can dial that in, then you can price accordingly. Price. I’m saying price based on a 10x return to your client. Because if you know that if you can give someone a half-million dollars of value, if you work with them, you can have a 50,000 program with great integrity. So, it’s a great ROI for the client. So, you may go out with 30, but if you do, now you can sell from your toes leaning forward, saying, “Guess what, there’s huge value” and believe in yourself. Imposter Syndrome goes out the window because you’re comfortable in knowing what you are worth. And no one can take that away from you. That’s powerful!
Tom Poland 6:26
And you also find that when people increase their prices significantly, it actually increases desire in the marketplace.
Ken Krell 06:34
It does and your sales go up. And your sales go up! I want everyone listening to be able to talk to their client, make their offer, or I want to call an invitation. And if they say “no”, I want you to feel that they need to go into counseling, that if they say “no” something is clinically wrong with them because your offer is so good. That’s where I want people to be.
Tom Poland 06:54
Thank you, sir. 60 seconds left; I better move things along. Valuable free resource. Where can we direct people to go to find out more about what you do?
Ken Krell 07:02
We’re going to give you guys what I call The Digital Event Essentials Plan. It’s called the DEEP and it dives in. I mean, it’s the best of the best of what I do. It’ll show you everything along the way. It’s for everyone watching. There’s a link that you’re going to put in the show notes.
Tom Poland 07:16
Ken Krell 07:18
JoinPride.com/MTI. So, it’s all there for everybody.
Tom Poland 07:20
Thank you. So JoinPride, P-R-I-D-E, .com/MTI, initially the acronym for this interview, Marketing the Invisible. Go there, folks, and go get it. We’ve got 27 seconds left. Question number seven, sir, what’s the one question I should have asked you but didn’t?
Ken Krell 07:35
Why digital events? And the biggest reason real quickly is faster, easier, less risk, more fun, better to deploy, you win.
Tom Poland 07:44
Not your first rodeo. Ken Krell, thank you so much for your insights and your time, and the wealth of experience you’ve shared with us.
Ken Krell 07:51
Thanks, Tom. You’re awesome.
Tom Poland 07:52
Tom Poland 07:54
Thanks for checking out our Marketing The Invisible podcast. If you like what we’re doing here please head over to iTunes to subscribe, rate us, and leave us a review. It’s very much appreciated. And if you want to generate five fresh leads in just five hours then check out www.fivehourchallenge.com.