What do you do if your consulting services are undervalued in the market?

If my consulting services aren't getting the recognition they deserve, I'd take charge. I'd review my pricing and make sure it matches the value I offer. Then, I'd highlight what makes my services special and why they're worth it. With strong marketing and happy clients, I'd show everyone the real value of my consulting services.

This is common. Many clients underestimate value of experience. You often see projects that are staffed for cost reasons only by young people. Result? Predictable disasters. Young people are cheap but when they encounter problem they will waste a lot of time to find solution which could be - with senior supervision easily averted. The main problem is that clients often appoint digital transformation leaders that has no experience with technologies project is delivering and they over-focus “do it cheap”. Result is that SIs staff project with junior people and off shore without leads and give them no “adult supervision”. Result is usually a train wreck too embarrassing for anyone to own it. C-level & Boards are usually kept in dark.

Before creating value, you must know your target market. You should know where you are now and where you want to be after a specific time, considering all the details and factors. Ask important questions like what kind of value our product adds to our client and why this client should use our product to add value. What do we have, and what value can we add to this specific client that the other opponent can't?

Study the target market before creating value. Sometimes, you have a valuable product in the wrong market, and all your efforts could be wasted. Gather as much information as possible and calculate every little detail. Gaps may appear along the way, but you must solve the issues before they appear in your way.

Make your pricing incomparable to others. Pricing per hour is dead end for consultant. What is really matter to client is the change you deliver. Remember that you are selling the future where the client wants to be with your help. Focus on value creation and price accordingly.

The truth is that people like to spend less and have more quality. What is your plan for this? Of course, you are not creating value for every person in the market but for a specific group, and you must have a strategy. Sometimes, you will have to pivot because the benefits are equal or even lower than the benefits.

Um dos maiores e piores erros que uma consultoria pode cometer é abaixar o preço para chegar em algum concorrente que não agrega o mesmo valor que você. Equalizar proposta comercial e técnica faz parte do jogo, mas não altere apenas o preço, pois além de você estar se desvalorizando, ao final das linhas, pode estar tendo prejuízo. Abaixe o preço sim, quando necessário, mas sempre demonstrando ao cliente quais entregas serão reduzidas ou retiradas para ficar equilibrado com o concorrente que ele está te comparando. Isso garante um mercado justo para todos e principalmente, um trabalho com remuneração honesta para você!

What is that one extra step that helps you go a little further to attract more clients? Sometimes, you only need one extra step, which might not be a big deal but boosts your success.

Is your product something that needs a manual? You may also have to talk to your customers directly to provide some extra explanation about your product. Please ensure your clients have easy access to you (or anyone responsible for answering their questions) so they can find their answers quickly. You might have an excellent product, but if people have issues using it and need help finding out but don't find guidance from you, your first sale can be the last, too!

In tough markets, commanding a high dollar consulting rate can be a challenge, especially for a client who doesn’t understand the value exchange. This may require outside the box thinking when structuring your contract to a pay for performance arrangement. Recently I took on a contract where we took a nominal set fee up front and agreed to a percentage of revenue increase in lieu of my standard $960 per hour rate. This worked out well for both of us because it covered my costs and gave them a chance to see production increases as we moved through the agreement.

Here's what we do: 1. We are paid 100% based on the results 2. We are paid only on the actions that the client approves for implementation 3. We are paid only on the value that the client determines for each action they approve. So ... our fee is 100% based on what the client says we achieved. So the market cannot undervalue us since the market, our clients determine the value and we, by definition, agree with them. This leads to tremendous value to our clients (a few months payback!)

Não tenha vergonha ou receio de demitir um cliente! Sim, isso mesmo! Demita o cliente que gosta de fazer leilão com consultorias, que não lhe permite apresentar o valor do seu trabalho e tão somente quer saber de preço e te compara com concorrentes que não representam o mesmo nicho de mercado que você e tão pouco, por consequência, a mesma entrega de valor.