A Simple Trick to Getting Paid More as a Consultant

by on February 15, 2013 · 0 comments

How To Make More Money as a Consultant

Yesterday a prospective client with a $10k a month PPC campaign wanted to haggle our fee.

For us folks in the industry, we know that a 15% fee is not unreasonable here. This lady’s brother was trying to do the campaign, and it had critical flaws.

So I said, “Okay, of the $10k you are spending this coming month, put $8,500 into the spend and $1,500 into our fee. See if we can beat you with $10k of spend.”

And this doesn’t even include the value of the client’s time.

You know the answer.

What they’re buying is our experience. So when you talk to a client that wants to go hourly, don’t. You’re not a courtesan selling your body or mind by the hour. You deliver results.

In this particular case, it was a Facebook ad campaign where the client was running only promoted posts. They didn’t know that a promoted post hits all countries as well as friends of fans, so that’s why they were getting a ton of junk traffic. They hadn’t heard of Power Editor, a free Chrome extension, where you can run the desktop newsfeed placement with multiple forms of targeting.

Can You Relate to This Story?

There was once a factory that ground to a halt. All the workers on the assembly line were sidelined because of a problem with the machinery. The factory foreman called in the expert, since they were bleeding dollars for every minute operations were down.

After a few minutes of tinkering around, the expert gave a big whack to one part of the machinery. Suddenly, everything started right back up.

The foreman asked the expert for the bill. “That will be $500,” he said. “But you didn’t do much– you were here just a few minutes!” exclaimed the foreman. “I need an itemized bill.”

“Okay. $1 for hitting this pipe. $499 for knowing where to hit.”

Clients, at least the good ones, pay you for results– not your time. And usually that means paying for your experience — in a couple hours, they can shortcut years of your hard-earned experience.

So look at your operations. Are you billing by time or by value?

What can you do to earn more money with less time, while also making clients super happy?

The other part of the equation is avoiding those who want to be clients, but can’t afford you.

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Dennis Yu has helped brands grow and measure their Facebook presence. He has spoken at Search Marketing Expo, Search Engine Strategies, Web 2.0, The American Marketing Association, PubCon, Conversational Commerce Conference, Pacific Conferences, HostingCon, Affiliate Summit, Affiliate Convention, UltraLight Startups, MIVA Merchant, and other venues. Yu has also counseled the Federal Trade Commission on privacy issues for social networks. Dennis has held leadership positions at Yahoo! and American Airlines. His educational background is Finance and Economics from Southern Methodist University and London School of Economics.

Dennis has written 2 articles on Expand2Web

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