Position your discovery calls for success!
In this episode of Live with The Pricing Lady, the Podcast, we delve into the transition from offering free sessions to securing paid clients by optimizing your discovery calls. I share my journey of shifting my mindset and rethinking the purpose of these initial calls.
We take a look at the common mistake of trying to prove oneself during these calls and the importance of focusing on diagnosing client needs instead – that’s the key to position discovery calls for success. I break down how to structure your calls with specific questions, transitioning from a casual approach to a more strategic one. I also delve into the debate of whether or not to charge for these calls and provide guidance on making this decision based on the value you offer. Throughout the episode, you get practical tips and actionable insights that’ll help you enhance your discovery calls, understand your clients better, and ultimately turn these conversations into fruitful business engagements.
If you’re looking to maximize the efficiency and effectiveness of your client interactions, this episode is a treasure trove of advice and best practices. Be sure to check out this pricing podcast, it’s a treasure trove of help for you and your business.
Enjoy!
What to Listen out for:
- 00:30 Personal Experience and Realizations
- 01:39 Shifting Your Mindset
- 04:19 Structure the Call Right
- 10:25 Position Discovery Calls
- 13:57 Final Thoughts and Summary
Favorite quotes from this episode
“If you’re using that first call to try and prove yourself – by coaching or consulting during the call – then it’s time for a mindset change.” Janene
“Shift from free coaching / consulting to diagnosis. Understand their needs, whether or not what you offer is fit for purpose.” Janene
“The first thing I did was cut the time for those calls in half to 30 minutes.” Janene
“I find that there’s no need to drag the call on for a longer period of time. I can do that assessment and understand the situation well enough in 20 minutes to be able to make a judgment call.” Janene
“…fees (for discovery calls) can be used as a way to weed out people aren’t really serious.” Janene
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Episode Summary
In the latest episode of Live with The Pricing Lady, explored shifting from free sessions to securing paid clients. This process involves understanding how to price and position discovery calls effectively. We look at key insights and strategies to maximize the value of your initial client interactions and how to shift them from being mere conversations to strategic business opportunities.
Introduction: The Role of Discovery Calls
Discovery calls are the initial conversations between you and potential clients. Originally, I approached these calls as a means to prove myself by providing advice and coaching, often spending considerable time with little turnover in terms of client conversion. It became apparent that this approach was neither efficient nor conducive to understanding the client’s needs effectively.
Shifting Your Mindset to Position Discovery Calls Right
The first significant change involved a mindset shift. Instead of proving my worth through free coaching, I began focusing on diagnosing client needs and assessing if there was a mutual fit. Discovery calls should not serve as free coaching sessions but rather as a diagnostic tool to evaluate compatibility and needs.
Action Steps:
- Limit Call Duration: Reducing the call duration to 20-30 minutes helped concentrate on essential aspects and use time efficiently.
- Focus on Diagnosis: Aim to understand the client’s needs and compatibility with your services without overwhelming them with solutions right away.
Structuring the Discovery Call
Initially, my discovery calls lacked structure. It’s easy to go in thinking I want the client and that’s it. But your objective should be more nuanced than that. When you focus on fit and vetting them it shifts the kind of conversation you have and the questions you ask. In order to position discovery calls right build yourself a clear outline. It transformed the efficiency and effectiveness of my calls. It’s a very simple structure but I use the following:
- Setting Expectations: Spend the first few minutes setting clear expectations about the purpose and structure of the call.
- Prepared Questions: Prepare a list of key questions that help understand the client’s needs and how you might serve them.
- Exploration and Transition: Use the client’s responses to guide the conversation naturally towards how you can assist them further.
Positioning is everything. Are you aiming for premium, value, or niche positioning? Your pricing should reflect where you want to stand in the market and the discovery call should reflect that as well. Only try to compete on price if that’s where you really want to be, if that’s what your customers are seeking. Align your strategy accordingly to differentiate and strengthen your brand.
Transitioning from Free to Paid Sessions
Many professionals traditionally offer free discovery calls, if you position your discovery call this way there’s a low barrier to entry. There’s also the possibility that you will have calls with people who have no intention of buying anything. It’s one reason why there’s value in considering a nominal fee for these sessions. Charging for your time can act as a filter to ensure you’re interacting with serious prospects. It helps both you and the client position the call in the right context.
Consideration Points:
- Weed Out the Non-Serious: Charging a fee helps ensure that only serious clients book time with you.
- Value Proposition: Highlight the value they will receive, such as clarity on goals and actionable insights, even during these initial discussions.
Pricing Strategy
For consultants especially, scoping a project takes expertise and should be considered a billable service. And typically you’ll need more than just a half an hour to scope out a project – and that expertise and effort is of great value. The fee for initial consultations could be credited later if the engagement proceeds to a larger project.
Conclusion: Reflect and Reinvent
As your business grows, continuously reflect on your discovery call strategy. Ensure your calls are structured, time-efficient, and focused on assessing fit and creating value. If you decide to transition from free to paid calls, frame them around the value and clarity clients will gain. Embrace the mindset that discovery calls are more about vetting compatibility and less about proving your capabilities. This shift can significantly enhance your business’s efficiency and increase your client conversion rates.
I hope you find these insights useful as you refine your pricing approach. And if you’d like more tips, explore ThePricingLady.com, where you’ll find resources like our pricing strategy self-assessment tool to support your journey. Remember, effective pricing is a powerful step toward elevating your business success. Until next time, happy pricing!
And don’t forget: Listen to the full episode for even more in-depth advice! Tune in wherever you get your podcasts.
