How To Get Clients To Pay MORE For Your Video Work // Master Filmmaker

What's going on, guys? Welcome to another video. Today we're going to talk about pricing and how that relates to getting clients to pay higher prices for your video work. If you don't know me, my name is Eric Deeren. I run master filmmaker. We've helped 412 video business owners scale their businesses and close multiple five and six figure video retainers in their business so they can scale their business, grow their business and build a business that fuels their passion doing something that they love. So in these videos, I'm teaching you the lessons that I've learned from that. Let's go ahead and dive into it. So today we're going to talk about pricing, right? So one of the biggest common things I hear from people, clients, from people on our Instagram, people who are struggling, is my clients don't want to pay a lot of money for my video work right now. They say the clients don't understand my value. They don't understand the value of what it is that I'm creating. But here's the problem, right? The client doesn't understand the value because you're not properly conveying the value. And the reason is, is because the clients, let's pretend these are two eyes right here. Perceived value, the value they perceive from the content you're creating is very low. It's not very high. And for us, we go after businesses, we create content for businesses because businesses have a make money outcome, meaning that they want to make money from the content that you're creating with them. So if they perceive that the value of what you're going to create is very low, then what does that tell you? It means that they don't think that they're going to make what we call an roi return on investment. They don't think they're going to make an ROI on the content that they're going to create with you. So that's why they're not willing to pay a lot of money for it. And this is likely because the way that you're pitching your content is I'm going to create this cinematic video for you. I'm going to create this really nice looking piece of content for you. When in reality, business owners don't care about that. They do not care how nice the piece of content looks. They don't care how cinematic it is. Now, there is a certain level of baseline of content, of standards that you have to have within the content that you're creating. But beyond that, they care more about making money with your content than they do about actually creating Beautiful looking content. So that begs the question, what do we actually have to do? Well, we have to help them see the value of, of how this content is going to help them make more money in their business, directly or indirectly. So let's talk about that here. So how do we get our clients to see the value and understand that there is more value to what we're creating and how it's going to help them? Like how do we get them to see that it's actually going to help them make more money in their business? Well, number one, the easiest way to do this is to first just go after hire value clients, right? So go after people who are higher value, people who have more money, people who, what we like to say is how much is one of their clients actually worth? Right? How much is one of their clients worth to them? Now if I'm serving a coffee shop, a coffee shop, their client might be worth $5, right? But if I'm serving some sort of construction company, their client might be worth $5 million. Now. Now which one of these two do you think it would be easier to sell a higher ticket package to for higher price? Obviously the construction company that sells something for $5 million. So you want to look at finding higher value clients to go after. So if you're not going after businesses that have a high lifetime value or ltv, which means lifetime value, if you're not going after clients that have a high ltv, then you're shooting yourself in the foot because you could be the best at your services. You could convince them of the world. But if one client's only worth $5 to them, it's going to take a lot of clients to recoup the investment that they're making with you. Whereas if I can say, hey, if all we did was get you one client, would this hundred thousand dollar video project be worth it? Well, of course it would because that would help them make $5 million, right? So that's the biggest thing that's number one is go after higher value clients. Now number two is get one to two case studies. So this means go out and do some work for free, if you don't already have that. So do some free work for the avatar or the type of client that you actually want to go after and get one to two case studies talking about the impact of the content that you created and how it helped them achieve some sort of result. This is the biggest thing I hear from creatives as well is, oh, I don't think I'm getting my clients a Result. Well, number one, we have to fix that. We have to figure out how we can get them result with content, how we can get them more leads, more clients, more sales, whatever it may be, so we can help them actually get results, so they can justify the investment that they're making with us. Because if you're a video producer who just says, oh, you know, we don't get results for our clients. We just create the content and hand it off to them, you're going to get left behind because clients want results. They don't just want a piece of content and document what it is that you actually do for your clients. As you can see, like for us, we have a bunch of case studies on our homepage of how we helped clients make more money. So how can you do that directly or indirectly? And how can you show that those clients actually got a result with your content? And then a little hack to this too, is go to past clients and just ask them. I can't tell you how many times I've had clients where our video clients, like the people who come to our program, just simply go back to their old clients and say, hey, you know, I'd love to know the impact of this project that we created. Like, what did that do for the business? Oh, Johnny, that actually made us like $2 million. It added $2 million in top line to our actual business. Like, just because you didn't ask, you didn't know that. And that happens all the time. So go to your past clients and ask them what results you actually generated with the content that you created for them. Now, finally, number three is you need to have a proven sales process. What a lot of people do is they simply just send a proposal without diagnosing the client's problem. They send a proposal to them and then they hope and pray that the person pays it. That is called hope and pray marketing. It does not work. So we need to have a proven sales process where we build a gap from where they are right here to where they want to be. So let's pretend they're at A and they want to be at B. And so within the sales conversation, we use a sales script or a sales framework to be like, okay, Johnny, where are you at with your business? Okay, you're here now. Where do you want to go? And we need to quantify those two things. The biggest thing is people do not quantify what they actually want or what the client wants out of the business or what they want out of working with you. So you need to measure, like, what exactly do they want? Where are they now, where they want to be? And what is that? Delta? And then you need to plug in your service right here, which is video, as what's going to help them get from A to B. And then if you can show them that you're going to help them get from here to here, and you're going to close that gap, that builds value in the sales call, and it helps them see and understand the value and justify the higher price point. So hopefully that was helpful. Guys, this was just a small insight into how to charge higher prices. If you have any questions about this, click the link below. In this video, there's a short training going over exactly how we help scale video businesses using this pricing process. And if you want to know more, click the link below and we'll see you there.