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B2B Sales Best Practices

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In our last post we examined a few B2B marketing best practices, basic strategies and activities that have earned a reputation for dependably producing successful outcomes; marketing strategies and activities augmented by AI-powered technology have proven to be especially effective. Marketing best practices are routinely followed by those who are considered leading marketers—a savvy and practical lot who avoid the miscalculations of strategies that are, unfortunately, associated with marketing laggards. Marketing leaders know that strategies and activities grounded in best practices are capable of not only producing your organization’s personal best year-end revenue and profit, but also generate business momentum that can propel you into a very happy 2026.

Now that we’ve taken a dive into marketing and learned what’s likely to inspire prospects to ask that you schedule a sales conversation, we can next examine what can be said to represent B2B sales best practices, in particular as they apply to Freelance professionals and small business owners. As always, the goal is to produce healthy revenue and profit results and avoid being seduced by strategies that make sense for, perhaps, an enterprise national or multinational corporation but are probably unattainable for smaller entities. In our continually evolving B2B marketplace, it’s necessary to recognize when to follow traditional B2B basic business practices and when (and which) of the dizzying array of new technologies are capable of facilitating your revenue and other business goals.

Navigating the complexity of B2B purchase decision-making 

B2B sales cycles are typically much longer than their B2C counterparts. The purchasing approval process often requires input from influential stakeholders and it is standard for multiple decision-makers to be involved. Complicated negotiations may be needed to reach agreement on pricing, payment terms and logistics before a sale can be approved. As a result, it is common to meet not just with the project team leader, but with a decision committee when you are invited into a sales conversation.

So—let’s figure out how to survive the lion’s den and earn a chance to rack up as much sales revenue as possible before the 2025 finish line. As usual, the best sales techniques follow a “work smart and keep it simple” philosophy. An effective sales process focuses on more than a financial transaction—the necessity of relationship building, the customer experience and also repeat business and referrals that grow the client list remind you that your sales strategies and skills are building blocks of long-term business growth and are integral to future-proofing your organization. The five steps detailed below are sure to help you improve your sales performance:

  1. Whenever possible, schedule face2face sales meetings to facilitate relationship building opportunities. Teleconferences are useful and very convenient but when possible, especially for the first meeting, find a time and place that will enable all participants to attend in person. Furthermore, it will also benefit you to schedule a face2face meeting at what you anticipate will be the meeting during which you expect to clinch the sale. Facilitating good communication and encouraging transparency and collaboration are easier to achieve in face2face interactions and make it easier to both encourage the sale and plant the seeds of a good client relationship.
  2. In-person meetings provide a forum for you and the decision team to get to get comfortable enough to share relevant information and build trust. The intimacy of in-person interactions are the fastest way to learn what really motivated the prospect’s team to seek out and evaluate your company’s solution. It’s much easier to bring this type of info to the surface when all players are in a room together. Face2face meetings encourage the development of communication and trust whose depth will surpass a merely transactional agenda. Like marketing leaders, sales leaders want to add to their roster clients who are willing to bring repeat business and make referrals to your company. BTW, you can also make referrals for your clients, an action that is certain to strengthen your business relationships.
  3. Sales meetings are typically the setting in which you receive previously undisclosed info that reveals why your prospect is willing to resolve a certain pain point by seeking a solution (that you hope to provide). The prospect’s team might divulge false starts, frustrations and failures that were the outcomes of other solutions. You can move the discovery forward by developing a list of open-ended questions that may encourage decision team members to talk, so that you can actively listen and take notes. Obtaining a clear understanding of client motives, goals, past experiences and concerns will allow you to personalize a solution that addresses what matters to the prospect.
  4. Prospective clients in most cases are concerned with maximizing value for the spend. Therefore, you are advised to focus on the dependable benefits of your solution’s outcomes and results, rather than reciting a list of features that are associated with the service or product.
  5. It is often said that half of life is about showing up; the other half is about the right kind of follow-up. If you’re waiting anxiously for an answer that concerns the proceedings of a recent sales conversation, by all means reach out and make contact. Your job is to add value to the communication and not bring pressure. Good meeting notes will help you to diplomatically present information that addresses client needs and priorities and moves the sale toward a successful conclusion. Maybe you can send a case study that was not previously discussed, or there is an add-on or upgrade that is not costly in terms of time and/or money for you to provide, but will bring value to the client and make your solution more attractive?

Sales skills are critical for B2B sector Freelancers and SMB owners. Those who sell are the revenue engine, making periodic professional sales skills training a must-do. If you’re the company’s one-person sales team, you’ll be much more successful when you sharpen your ability to persuasively and clearly articulate your product or service value proposition/unique sales proposition, refine your responses to prospect questions and objections so that you instill confidence—and close deals in a way that builds client relationships. Keep in mind that utilizing sales best practices tactics alone will not ensure success in the hypercompetitive B2B sector. Producing sales revenue and profit that achieves your targets will also require that you stay abreast of the evolving expectations of your clients and prospects and updated on industry developments and trends.

  1. Instituting an efficient sales system is essential for B2B sector Freelancers and SMBs. A CRM (customer relationship management) system that helps you to monitor leads, sales offers being considered and prospective client interactions should be a part of your sales system. You should establish an inbound sales pipeline that helps you visualize your sales process and identify areas where you can improve. Refer to your marketing buyer persona and use that profile as a snapshot of the client(s) you’re selling to, so that you can tailor and personalize your sales process to fit their needs and expectations. 
  2. Freelance consultants and SMBs operating in the B2B sector must develop a sales strategy.  Your sales strategy will guide you to identify reasonable and attainable sales revenue goals and identify potentially useful sales distribution strategies. Might facilitating website online ordering of certain of your products or services be attractive to your clients and persuade them to do more business with you? Your sales strategy will also guide you to identify principle competitors and learn how to persuasively articulate your unique sales proposition.
  3. Make your sales pitch simple and easy for the client to envision how your solution can be incorporated into the workflow and operate in the real world. Provide information about how your solution can meet the prospect’s specific needs—that is, benefits and outcomes— rather than the ins and outs of service or product features.
  4. Recognize and introduce opportunities to up-sell to premium level service or cross-sell add-on services or accessories. If your service or product line does not currently feature options to “trade-up” or ‘add-on,” consider how you can include such options. For example, designing an “economy” level service may attract interested prospects who are on a budget but are motivated to become buyers. On the other hand, those who have more expansive needs and a budget to match may be ideal candidates for up-selling to premium service/product options, or add-ons.
  5. In 2025-2026, the payment options you offer to prospects can be presented as a competitive advantage. As fintech expands what’s possible, know that buyer expectations are shifting toward flexible, personalized payment terms. Furthermore, cybersecurity and other risk-mitigating considerations are at top of mind. Confirm that your current payment options meet buyer expectations of payment transaction security and give yourself another pathway to encouraging sales and developing good business relationships.

Thanks for reading,

Kim

Image: © Rido/Dreamstime

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Curb Customer Churn

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Does your business exist in a one-off world? Once you’ve had the pleasure of bringing in a new customer, completed the transaction and received payment, what’s the likelihood of that customer doing business with you again? Acquiring new customers are a feather in your cap and your reason for being but as Dad told me, when it comes to money it’s not what you make, it’s what you keep. That bit of wisdom refers not only to business and living expenses: it also refers to your ability to keep customers coming back.

The expected percentage of repeat customers is different for every business, but it’s widely known that customer loyalty, demonstrated by repeat business, is a success factor and customer churn, also known as customer attrition and refers to the rate that customers disappear from your business, ought to be limited. Nurturing customer loyalty that translates into repeat business and adds to the long-term value of your customers is a much better use of your resources than constantly chasing new customers—even though attracting new customers is an eternal business necessity. See below a sample of customer retention statistics sorted by industry. How does your customer list look in comparison?

Top Customer Retention Stats in 2025 (source: Exploding Topics September 12, 2025)

  • Media services customer retention rate (84%).
  • Professional services customer retention rate (84%)
  • Tech/IT services customer retention rate 81%
  • IT/software services customer retention rate 77%
  • Consumer services customer retention rate 67%
  • Hospitality/travel/restaurant customer retention rate 55%.
  • Facebook 24-month user retention rate 69.6%
  • LinkedIn 24-month user retention rate 59% (estimate–LinkedIn does not release this metric)
  • Instagram 24-month user retention rate 39.1%
  • Pinterest 24-month user retention rate 37.5%
  • Snapchat 24-month user retention rate 30.2%
  • Twitter/ X 24-month user retention rate 22.9%
  • Customers who have a positive experience spend 140% more than those who have a bad experience.
  • Email is the top delivery method used to contact customers and encourage retention (89%)
  • 75% is the average customer retention rate across all industries
  • 60% of customers believe that good customer service is essential to promote customer retention.

Owners and leaders of what is probably the majority of commercial enterprises are inclined to believe the prevailing opinion that claims it costs the average business entity 5x more to bring in a new customer than it costs to keep an existing customer. In fact, research done by Frederick Reichheld of Bain & Company found that increasing customer retention rates by just 5% can increase profit anywhere from 25% to as much as 95%. The standard advice about customer retention appears to be still valid, but thought leaders now warn that hyper-prioritizing customer retention introduces the risk of losing focus on what really matters—connecting with customers and delivering value. Freelancers and business leaders must understand which customers are worthy of receiving resources intended to recruit their business and which are worthy of resources intended to keep their business. In that way, finding a balance between the two apparently opposed, but nevertheless important, customer segments can be achieved.

When considering how much to spend to either acquire or retain customers, it’s essential to consider the customer’s lifetime value (CLV), the long-term revenue potential of a customer. When discussing business decisions about attracting new customers and keeping existing customers, University of Pennsylvania/ Wharton Business School Marketing Professor Peter Fader told Forbes Magazine Senior Contributor Blake Morgan, “Here’s my take on that old belief: who cares? Decisions about customer acquisition, retention and development shouldn’t be driven by cost considerations—they should be based on future value.”

Still, getting ghosted by customers is not to be disingenuously explained away. You need to know what motivated now former customers to stop doing business with you. Then you must fix the problem(s). Unfulfilled expectations are known to result in high churn rates as customers jump ship and either take up with a competitor or do without. You can calculate your company’s churn rate by dividing the number of customers you worked with during a specific time period by the number of customers you worked with at the start of that time period. Quarterly, semi-annual, or annual churn calculations will give useful insights to Freelance professionals and other business owners.

Common causes of customer churn

  • Difficult user experience: if some aspect of using the product or service is frustrating, customers are likely to use the product/service less often and they’ll be unlikely to recommend it to friends.
  • Unsatisfying customer experience: if customers do not feel welcome, or if the process of doing business is disorganized and appears unprofessional, it leaves a bad impression. Furthermore, many customers expect a personalized experience and would like your company to periodically introduce new features or upgrades to your product or service that add functionality, luxury, or other distinction that heightens the experience. If this expectation is unfulfilled, some customers will leave.
  • Competitor intervention: every business has competitors, but it is important to discover why customers think the grass is greener somewhere else. Are those customers a bad fit for your business, or was your offering a poor product/market fit for them all along? Alternatively, might some customers be more price-sensitive of late and feel compelled to explore lower-priced solutions? Or, is there something you are doing—or not doing? Once you figure out the cause of the ghosting, you can decide who is worth working to keep and who can be let go.
  • Incomplete onboarding: it is beneficial to teach buyers how to appropriately utilize the product or service that’s been purchased and coaching them on the optimal use of the service or product purchased is especially urgent when the customer has paid several hundred to several thousand dollars. An onboarding process that provides adequate user education will also address customer expectations of personalization and counteract difficult user experiences and, in most cases, head off an unsatisfactory customer experience.

Minimize customer churn

There will always be customers who leave your company to take up with another and the reasons for that are varied—needs evolve, budgets shrink, competitors appear. Nevertheless, directing your focus to customer priorities and expectations to shape your delivery of positive experiences will minimize customer churn and maximize customer satisfaction and retention. In short, make it rewarding to do business with your organization. It has been shown (see above) that the impact of a satisfying and memorable customer experience is enormous— customers spend 140% more if their past experience with a business is positive compared to those customers who encounter a negative experience. Top companies know how important customer experience is in maintaining high retention. The marketing pros at Hubspot suggest a short list of practices that will limit customer churn.

  • Invite customer feedback by creating a short survey to send to customers you’ve worked with over the past four or five years. It’s important to know what customers perceive as your company’s strengths and weaknesses and get insight into how their needs and expectations have evolved. Besides, you might even provide incentive for a lapsed client to return!
  • Provide excellent customer service, from onboading to after-sale support. Define a user roadmap, especially for new customers.
  • Create a welcoming and supportive customer experience. Community building is a powerful engagement strategy that keeps customers talking about your brand. Use social media to create a community for customers and use it to generate loyalty that creates referrals and repeat business.

Thanks for reading,

Kim

Image: © SCMP Pictures. Shoppers riding the escalators in Causeway Bay, Hong Kong Island (2015).

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How Much Do B2B Freelancers Really Earn?

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As we enter Fiscal Year 2026, it is apparent that Freelance work continues to be viewed as a good choice by American workers who feel the need to generate income to either supplement their W-2 wages or establish themselves in full-time independent employment that will financially support their household. The ability to exercise greater control over their time and design a flexible work schedule, remains a prized benefit of Freelance work. Worker confidence in Freelance employment has primarily been attributed to periodic occurrences of economic instability that many economists say in the current era began with the global stock market crash of 1987. The now common business strategy of downsizing as an effective strategy to slash corporate payrolls and bolster the company’s financial position seems to have begun shortly after the 1987 crash. Ongoing corporate lay-offs, particularly at enterprise companies, finds a growing number of American workers fed up with constant worrying about losing their jobs; increasingly, the proactive worker response is to take charge of one’s professional and economic destiny by opting out of the search for post lay-off W-2 employment.

As more workers are laid-off, there has emerged a growing trend for them to build Freelance careers instead of seeking another traditional nine-to-five job. As of 2024, 20% of (now former) employees have become Freelance professionals or owners of traditional businesses. It’s been reported that 50% of employees age 45 years or younger would seriously consider leaving their current full-time employment if the usual benefits were available to them.

In sum, Freelance earning opportunities are making a tremendous cultural impact on America, as regards the meaning of work and on the national economy. In 2024, more than one in four (28%) of U.S. knowledge workers were in the Freelancers and they contributed $1.5 trillion to the U.S. economy, surpassing the 2023 Freelance labor contribution of $1.27 trillion in annual earnings.

You might wonder what constitutes a ballpark annual earning as demonstrated in a sampling of Freelance enterprises and you could be surprised to learn that Freelancers in the U.S. earn an average annual revenue of over $99,000, with an earnings range of $31,000 to $275,000 per year. As you know, the hourly rate or project fee a Freelance professional can command is influenced by the ability to convince prospects that significant value will be delivered in the process. In addition, enthusiastic recommendations and an admirable client list—characteristics of a powerful brand, you surely notice—-also matter. What do your prospects and clients think you bring to the table that gives them the confidence to pay the project or retainer fee or hourly rate you request for your time and expertise? Do you have on your wish list the goal of making your Freelance consulting practice more lucrative?

Self-employed professionals are advised to price their services in a way that aligns with their competitive market position, not primarily on their years of experience. To make the leap into more prestigious clients and a loftier pricing level that will open the door to more billable hours and perhaps more interesting projects as well, focus on how you might package and sell your knowledge and expertise as a high value consulting product.

Consider the types of problems your prospective clients would like to solve or competitive advantages they’d like to attain and do some brainstorming—what solutions can you provide to satisfy one or more of those agendas? What do you do that can be described as generating recurring revenue for your clients, for example, or providing a solution to other high priority problems and challenges that your prospects are motivated to resolve?

You can apply your knowledge and expertise to any aspect of your prospect’s business—strategy development, operational efficiencies, financial management, digital marketing, technology solutions, public relations, or search engine optimization. Promote your credentials, specialized knowledge, delivery format, outcomes and client list to justify your (increased) rates. Package your expertise into tiered service levels that prospects will find uncomplicated, relevant and easy to envision themselves buying, using and profiting from the solutions and competitive advantages that you will deliver.

When discussing your services with prospective clients, the prices a Freelance professional charges will likely be more acceptable when based on their perceived value in the marketplace, rather than based on their years of experience in the industry. Be certain to showcase the following attributes and achievements, which can be presented as competitive advantages:

Specific skill set. Your skill set will play a vital role in your pricing structure. You can charge a premium price if an assignment requires a strong underlying technical skill set, such as software development or programming, mobile app development, legal writing, or PR crisis communications, for example.

Education and training. Education and certified training can significantly boost a Freelancer’s income. Although this will vary from profession to profession, a bachelor’s or master’s degree or PhD, as well as specialized training certificates earned at accredited programs or institutions usually allow a Freelancer more leverage in pricing negotiations.

Reviews and proven deliverables. Solid references, ideally from three to five client sources, are essential to verify your expertise and demonstrate your most desirable attributes, such as work ethic, problem-solving ability, or collaborative and cooperative working style. Past project reviews provide an easy way for a company to verify a Freelancer’s performance. A large number of positive reviews proves your credibility, which justifies premium prices.

Years of experience. Experience is a valuable resource in any field. The amount that a Freelancer makes typically increases with the years of experience they have in their service area.

Freelancing payment schedules

Keep in mind that, along with a Freelancer’s increased earning potential and flexibility, comes an unpredictable number of billable hours (that is, projects) and an inconsistent payment schedule. The matter of payment can be addressed in the contract and reinforced during the client onboarding process, when the payment method and schedule are confirmed. Below are the usual Freelance payment options.

  • Hourly rate. A Freelance professional may be paid a mutually agreed-upon hourly rate for work produced. Likewise, invoices are sent to the client and payments are made to the Freelancer on a mutually agreed-upon schedule.
  • Project fee. The Freelancer is paid a set amount to complete a project with a defined scope and completion deadline. To facilitate timely payment, it is common for Freelancers to ask the client to pay 10% – 20% (or more) of the total contracted project fee in advance, before you commence work; subsequent payments can be linked to the Freelancer’s successful completion of one or more mutually agreed-upon project milestones. The goal is for the Freelancer to collect from the client at least 70% of the total project fee before all work is completed. It is imperative that Freelancers build in a payment protocol to protect oneself from the unfortunate phenomenon of unpaid work.
  • Retainer fee. A retainer is a recurring payment that a Freelancer receives based on an estimated amount of work for a project’s duration, or a predetermined amount of time. Retainers are typically paid monthly or quarterly.

Thanks for reading,

Kim

Image: © mrakor/depositphotos

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Create Content That Delivers

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You will agree that the internet is the leading source of information and entertainment for everyone on Earth who has connectivity. The global data and business intelligence platform Statista reports that in 2025 5.56 billion, approximately 65% of the world’s population, has internet access. To nearly every business entity on the planet, that means about 5.34 billion potential customers—many of whom are too young to launch a buyer’s journey, but some of whom might influence purchases their parents make—are available to receive online marketing information.

While the vast majority of the world’s internet users will become the customers of only a select few brands, the wide acceptance of digital communications gives marketers everywhere the green light to create and post a vast amount of marketing information and the digital space is now awash in content of every type—audio, video, images and text. Audience appetite for content, whether information or entertainment, shows no signs of abating. The number of digital content websites and platforms continues to proliferate and invite contributors to produce still more content, all of which beckons viewers, listeners and readers to show some love and click here, please!

Content saturation of the internet is an inevitable phenomenon. According to the nationally known content marketing expert Neil Patel, nearly 40 % of enterprise companies plan to increase their content marketing budgets this year. Freelance solopreneurs and smaller business entities will likewise continue, or perhaps increase, their content marketing activity as well, but the dominance of content presented by the multinationals can easily cause the comparatively modest content produced by small entities to be overwhelmed as if by a riptide. Freelancers are understandably frustrated with this occurrence. How can you become more visible when your content must swim with the whales—and sharks?

It’s a vexing problem for sure but there is a commonsense strategy, one that plays to your strengths and demonstrates resourcefulness and creativity. The best response to content saturation is to activate your problem-solving ability and devise a strategy that guides you to create content that not only resonates with your audience, but also positions you to gain and maintain the attention and loyalty of your target audience. Whether your information is intended for social media posts, or focuses on developing and promoting content featured in your webinars, weekly blogs, or monthly newsletters, be reassured that content perceived as valuable will be acknowledged and followed by your target audience. It’s just about guaranteed that content featuring information that is specific, practical and actionable will result in a loyal and thriving audience who will regard you as a trusted expert. So, your mission as a content producer is to learn what is meaningful to your readers, listeners and/or viewers and let their priorities guide your content development and distribution strategies.

Educate yourself by reading articles that discuss from local and national perspectives developing trends, pending legislation, competition, opportunities and other updates in your field. Producers of relevant content must also be consumers of relevant content! If producing content figures prominently in your marketing strategies (and I know that it does), you may find one or more of the following five suggestions able to enhance the value of your marketing content and also position your content to bring in a healthy ROI—which might include establishing you as a thought leader.

Relevant, realistic and relatable information

Content that your audience considers to be relevant and practical is more likely to be valued, implemented and shared. Gaining a reputation as a reliable and respected source of content by your audience will incline them to become your followers or subscribers. Content that your viewers, listeners, or readers consider potentially actionable and known to be trustworthy can also encourage loyalty to you, your content and your organization and may persuade some to become your customers. To create content that’s considered useful and trustworthy, and resonates with your audience, you must stay ahead of emerging trends in your industry and be aware of and responsive to the evolving preferences, priorities and concerns of your customers.

Actions are easy to implement and afford

Your audience should be able to envision the usefulness of the actions or strategies your content recommends, even if only a minority of them is prepared to implement your ideas now or in the near future. Individual circumstances will dictate what audience members decide to do, but any advice put forth in your content must inspire confidence.

Furthermore, your content should not recommend actions or strategies that involve implementation costs that many would consider expensive. I’ll go so far as to say that the average B2B content viewer is looking for ideas that can, with a minimum of time and fuss, be used to grow their customer list, streamline business operations and either save or make money—practical advice that can be implemented at no cost or low cost. While business expenses are inescapable, content creators win more fans by recommending actions that demonstrate recognizable value and are accessible and affordable to the majority of the audience.

Your content is your own creation

Rather than doing a copy/paste of another’s work, content creators should value their lived experience—victories won and battles lost, resilience found, the worries of sleepless nights and sudden inspirations—and share those stories with your audience in ways that will be interesting and useful to them. Producing content is usually time-consuming, but that is the price of authenticity and it is worth it. To give yourself a starting point for your creative process, search for trending topics in your field, or comment on an aspect of the most frequent internet search questions related to your marketplace sector that were made over the past week.

Links to expert 3rd party support

In this post I’ve referenced marketing expert Neil Patel and the global business information platform Statista. Demonstrating to your readers/listeners/viewers that key points of your content are supported by recognized nationally or globally respected thought leaders gives them reasons to trust and value the recommendations and insights offered in your content.

Avoid confirmation bias

Content that is valued and popular is shaped not by the creator’s preferences, but by the readers/viewers/listeners in the audience. A common tactic used to help creators avoid confirmation bias is to simply ask audience members what they want to see and hear now, so that you can ensure the relevance of your content. Every few months, you might create a short survey that encourages content viewers to express what matters to them. In a four or five question survey, you can also slip in one or two audience demographic questions—Are you self-employed or an employee? What is your main area of expertise?—and begin to build an audience persona, which will enable you to heighten your responsiveness to your audience.

  • Social media polls Your preferred platforms provide a convenient means to create and send a survey that will help you learn more about your audience. Social media platforms make it easy for you to engage and more effectively communicate with audience members by providing fully customizable forms that help you expand your reach and even grow your base of followers. Polls are equipped with analytical tools that will give you information on your audience’s age group, location, profession and more.
  • Online and email surveys. The most important part of conducting online surveys is knowing what you want to learn from each question, and to keep questions short and easy to answer. You can also create email campaigns to survey your existing client base and gain valuable insight about them. For a very basic customer survey, ClickInsights sets up a one-question, one-click email survey; create a more extensive survey at Survey Monkey.

Thanks for reading,

Kim

Image: © A Tokyo soba noodle delivery in 1956. Bettmann Archive/ Getty Images

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Lasting Client Relationships Help Your Business Thrive

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Freelance professionals and all business owners and leaders understand that they must periodically calibrate (and re-calibrate) their business entity so that it will be positioned to survive and thrive. While evaluating the potential success of growth strategies that appear to be capable of building a client list that enables you to achieve your revenue goals, do not overlook this basic business growth strategy—establishing good client relationships.

Good client relationships are foundational to the development of a healthy business and typically result in a potent client list, robust repeat business, consistent referrals and a low client churn rate. Implementing inbound and outbound marketing strategies in order to energize revenue is always necessary, but the process is usually time-consuming and by that metric alone, is expensive.

Recognize that you can enhance the value of your client list quantitatively, by adding more names, and simultaneously follow a qualitative approach to building the roster, when you prioritize the development of good client relationships. Establishing positive relationships with clients is a savvy marketing strategy that can play a supporting role in growing the number and quality of your active clients. Client relationships can support conditions that encourage client loyalty, repeat business and referrals, while simultaneously discouraging client churn. That the process of retaining clients and persuading them to continue doing business with your organization can be influenced by good relationships is so fundamental it is sometimes overlooked.

Beneficial client relationships are built on trust that’s born of the fulfillment of expectations (e.g., excellent project work and timely invoice payments), as well as transparency, communication and collaboration. More like partnerships than the usual transactional agreements between clients and vendors, clients with whom you’ve established a good relationship provide stability, inspire creativity and drive innovation that results in project outcomes that often exceed expectations. Below are qualities and practices that promote the development of beneficial client relationships that will pay dividends to both you and your clients.

1. Agreements, specifications and contract

It is a given that good client relationships begin with ethical and transparent business practices that are introduced during the initial project or product discussions between yourself and the client. Project specs or desired product solutions govern work agreements and performance milestones. Project contracts or sales agreements are intended to facilitate a smooth and productive collaboration and ensure that both the client’s interests and your interests are fulfilled. The quality of these discussions is integral to the establishment of creating good client relationships and transparency is key.

2. The customer experience

The quality and consistency of the customer experience your organization delivers is another building block of beneficial client relationships. The fact is, when your organization delivers an end-to-end efficient and satisfying customer experience, those with whom you do business will be happy to see more of you. When you (and your team) make it possible for clients to trust your expertise, professionalism, integrity and ability to meet or exceed expectations, you’ll be on your way to establishing mutually rewarding client relationships that can bring both tangible and intangible rewards to your organization (and the client’s).

As you shape the customer experience your company presents, be aware that “thank you” is a powerful word in every language. Saying “thank you” to your client for doing business with you shows appreciation and everyone likes someone who appreciates them. “Thank you” has the power to nurture and sustain positive relationships.

3. Communication and collaboration

You can build lasting, mutually beneficial relationships by facilitating good communication with your clients. Regular communication is integral to supporting collaboration, enabling innovation and producing outcomes that will likely meet, and may exceed, the client expectations. Honest and ongoing communication is crucial to gaining client confidence; be certain to keep your clients fully apprised of the project’s progress, challenges, or changes. Regular updates and transparent reporting demonstrate accountability, promote cooperation and enable proactive problem-solving that drives successful results.

As well, keep in mind that while technology enables communication at any time or any place, it cannot replace the value of face2face communication. When scheduling client meetings, suggest in-person chats whenever possible, as a way to encourage a good relationship. The Harvard Business Review reports that 95% of business leaders believe in-person meetings are essential for building stronger, more meaningful relationships. Alternating meetings between the client’s preferred location and your own shows consideration and empathy, attributes that are also integral to relationship-building. Keep in mind that business decisions are often influenced by personal relationships.

4. Listening and empathy

Effective listening is a cornerstone of relationship-building and good relationships are the foundation of business and diplomacy. Active listening is a demonstration of empathy and respect, and it builds trust. The ability to listen effectively is a valuable leadership skill and despite appearances, listening is active, not passive, and requires the listener to be fully present. When you invite your client to share information ask questions and perhaps brainstorm ideas, you validate his/her priorities and concerns and demonstrate your commitment to the development of a positive, long-lasting relationship.

Empathy allows you to see the world through the eyes of others and listening is a crucial enabler of the process.  Empathy helps you to effectively comprehend your client’s feelings, aspirations and challenges. Clients who feel as if they are understood will also feel that they are valued, making them more likely to become and remain loyal to your organization and more likely to reward you with repeat business and referrals. 

5. Flexibility and patience

Beneficial relationships rely on flexibility and patience. For example, there may be times when your client must grapple with unexpected challenges, such as time line changes or budget constraints. In these situations, your willingness to be adaptable and propose alternative approaches to meet revised client needs will demonstrate your commitment to the project and his/her organization, promotes trust and is likely to significantly strengthen the relationship.

Thanks for reading,

Kim

Image: © Skynesher for Getty Images.

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Make Marketing Messages Memorable

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What is effective marketing in the 21st century? Communication technology has gone through so many game-changing upgrades—radio! television! Watson the IBM supercomputer!—but the essence of human beings hasn’t really changed over the centuries. The basics of buying and selling resources that we value, whether they are integral to survival or ego-boosting bling, are still governed by a group of fairly standard actions that comprise what’s known as the buyer’s journey. Circumstances and other factors that spark buyer interest and may lead to a sale haven’t changed much in about 8,000 years of civilization as we know it. I think it’s safe to say that buying and selling, and the marketing strategies designed to influence the process, are at their core about the same today as marketing was in Shakespeare’s England (early 1600s) or during the reign of the pharaohs.

Successful marketing campaigns have as their foundation good storytelling and the story must be distributed to potential buyers of the product or service. Marketing stories must appeal to prospective buyers and be accessible on media outlets (channels) that target prospective buyers follow and trust. Beyond those qualifiers, it’s incumbent upon sellers to create and distribute marketing content with a message that persuades potential buyers to stop, look and engage. Sellers need a marketing message that tweaks curiosity or strikes a familiar chord with those who experience it. How can you ensure that your marketing messages will consistently deliver? Read on to learn a few actions that will optimize the power of your marketing messages.

How are prospects meeting their needs now?

As usual, it makes sense to begin at the beginning. Before you can create trust inspiring, right-on-time marketing messages, it’s necessary to know what your customers are doing now — who or what are you competing against? You cannot make a battle plan until you know your opponent and the strengths, weaknesses and perceived value that’s made customers buy (until you arrived to shake things up)?

BTW, more often than you’d guess, your competition is neither a rival Freelancer nor a traditional business entity; your competitor could be inertia, AKA doing nothing. The status quo could be your client’s hiding place and coaxing him/her into the fresh air and sunshine of problem-solving could be a difficult endeavor. “Kicking the can” may have powerful defenders on your sale’s decision-making committee and one or more of them could have budget influence that can be weaponized and used to shut down spending or any move toward progress.

So, if one or two of the prospect’s decision-making committee members are comfortable with what’s being done now, you must demonstrate why deflecting what could be considered a reasonable problem-solving action, or doing the same dance with the same partner, is less effective and in the end more costly than bringing in your solution. To do that, you’ll need a marketing message that is powerful and persuasive. To figure out how to shape the narrative you need, start by exploring these issues:

  • Examine and analyze lost sales. When you lose a sale, diplomatically attempt to discover who your prospect decided to buy from, if possible. Perhaps even more important is to ask the prospect directly or ask someone who can speak for him/her, what shortcoming(s) motivated the decision to select another vendor. You must learn how you dropped the ball in order to fix the problem. Once you’ve identified lapses and/or weaknesses, you’ll decide on the most efficient corrective actions.
  • Examine and analyze successful sales. When the prospect hires you and becomes your client, discreetly inquire about their decision process. It’s seldom easy to learn the identities of competitors on your now-client’s shortlist but is a definitive way to confirm your competition. Equally valuable intel is learning which factors or characteristics of yours motivated decision-makers to bring you on board. What is it about you and your organization or skill set that makes you stand out?
  • Get input from your best customers. If your product or service didn’t exist, what would your customers do instead? Their answers will reveal the real-world alternative solutions you’re up against. To get started on building your case, consider these tactics:

Describe your value proposition, as your buyers define it

Once you have a good understanding of your typical competitors, identified weaknesses you must address and strengths that distinguish you and instill confidence in prospects, incorporate your findings in your marketing messages. Your story will be best served when you think beyond predictable product or service features; standing out in today’s hyper-competitive marketplace requires more than a recitation of product or service features and benefits. Put yourself in the prospect’s shoes and envision what s/he must achieve and what it takes to do so and use those insights to predict which of your product or service features and benefits to showcase. Develop a marketing message that will “paint a picture” that enables your prospect to “see” how your solution helps them to achieve their goals or please their customers. Adopt a “what’s in it for them” mindset as you customize your marketing message with a story that goes beyond generalities:

  • Superior customer experience (e.g., fast and uncomplicated new customer onboarding or the availability of end-user training and/or other post-sale support.
  • Expertise in a specific market or problem area.
  • Flexibility or customization that others lack.
  • A track record of success with companies similar to your target customers.

Edit marketing message talking points

Make it easy for prospects to remember (and also value) features and benefits by paring down your list and building your message on three or four powerful and persuasive talking points, so that you’ll avoid overwhelming prospects with too much information that is bound to get lost in the shuffle. A short list of strong value points makes a bigger impact than a long list of features. These 3-4 marketing message talking points become your core value proposition for you to use in all of your marketing materials. Choose your list of customized, high value talking points guided by these suggestions:

  • Relevance: Which benefits speak most directly to your audience’s most urgent goal or problem?
  • Uniqueness: Which of your strengths is most difficult for competitors to copy or claim?
  • Defensibility: How does your marketing message communicate a story that demonstrates in a clear and persuasive narrative that your solution and company are the best option for the client?

Customize messages for market segments

Your carefully selected and vetted marketing message should quickly resonate with your customers and prospects, literally “speak” to your audience so that its members can recognize the information they care about most. Adjust your core message based on who you’re talking to and where they are in the buying journey. Be sensitive to the need of different information or incentives that are useful to prospect as they progress through the buyer’s journey. Prospects who are establishing a familiarity with your company and its solutions are not the same as prospects who are in the process of making a final determination between two or three potential vendors. Supporting information should align with the questions a typical prospect has when progressing through the buyer’s journey.

  • Decision-makers: Emphasize high-level results, like return on investment for users of your product or service, or overall cost savings.
  • End-users: Focus on ease of use and practical features.
  • Awareness stage: Talk about common problems and introduce your solution.
  • Decision stage: Show clear proof and highlight what makes you stand out.

Message at every touchpoint

A messaging hierarchy helps you stay consistent across all channels — from your website homepage to sales meetings. It starts with your core value points, then moves into supporting messages and ends with evidence. Structure it like this:

  1. Value proposition talking points: The top 3-4 benefits you chose to highlight (above).
  2. Supporting messages: Additional advantages or benefits that reinforce why you core value proposition makes a (positive) difference for the prospect.
  3. Case studies: Real life experience helps a prospect understand how your service or product performs in the real world. Present performance metrics, share a case study or other stories that document and illustrate how you (and your team) provide solutions that solves problems, achieves goals and delivers on promises made.
  4. Technology: Demonstrate to your prospect that you are a capable and prepared professional who is comfortable with commonly used tech solutions by using an online calendar platform (such as Calendly) to schedule and confirm your sales meetings, as you reduce the incidence of missed appointments or cancellations—frustrating time wasters. Doing so demonstrates not only your knowledge and proficiency of useful technology, but also signals to prospects your intention to deliver a seamless and pleasant end-to-end customer experience.

Thanks for reading,

Kim

Image: ©National Aeronautics and Space Administration (NASA) 1972. Eugene Cernan, commander of the Apollo 17 mission and the last astronaut to walk on the moon, holds an American flag during his mission in December 1972. 

 

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Help Customers Trust Subscription Pricing

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The mere thought of guaranteed revenue arriving each month like clockwork will bring a smile to the face of every business owner. Recurring revenue is a dream come true; now you’ve got the cash-flow to pay expenses on time and in full. You can replace or upgrade business equipment when necessary. You can invest in professional development that makes you more knowledgeable, and therefore more useful to customers, and more respected in your professional community as well. Recurring revenue enables you to plan for the future of your business with confidence—and sleep well at night.

The leading way to generate recurring revenue is by introducing a subscription payment option to your business. Savvy Freelancers and SMBs are reviewing the buying habits of their best customers to determine if converting certain of their products or services to the subscription model can be successful. In the B2B sector, subscription pricing is a payment option where customers pay a recurring fee, typically monthly or annually, to receive access to a product or service, most often cloud-based software or storage, i.e., software as a service (SaaS). Freelancers and SMBs might offer subscription pricing for coaching, marketing, network and website management, or bookkeeping services.  

Thoughts of a subscription payment plan may make business owners salivate, but the process requires careful thought and planning. You’ve got to get things right from Day One and that is especially true for service-based businesses where value is not always immediately recognized. SaaS subscriptions, network and/or website management and bookkeeping services, on the other hand, have a readily apparent value that customers and prospects can picture themselves needing on a regular basis. For this reason, non-IT related service-based subscriptions may face challenges.

  • Value perception: To establish trust in a subscription payment plan, the business must demonstrate unambiguous value to prospective customers. If the customer begins to feel that s/he is not getting their money’s worth, there will be a risk of service cancellation. 
  • Service enhancements: There’s an ongoing customer expectation to continually sweeten the pot with (free) service upgrades. Global enterprise companies (like credit card companies and banks) can afford this strategy and the expectation has been set. SMBs and Freelancers may struggle to fulfill this wish, however.

Talk up value

Your subscription pricing model and everything related to it must align with the perceived value of what customers get in return. Customers must be able to see and/or believe the value of your product or service, consistently and at every touch point. Your job, Freelancer or SMB owner, is to continuously communicate that value, so customers will understand the benefits they’ll receive when opting-in to the subscription. Only when that is achieved will customer concerns fade and trust in your subscription grow.

Communicating value begins at the introduction of the subscription model sales process; the offer of a free trial will play a pivotal role in building the value you want to demonstrate. A short free trial invites prospective subscription customers to test the product or service, if it is new to them, or experience how subscription pricing can work to their benefit. Businesses acquired 50.0% of subscribers through trials, making it one of the most effective customer acquisition strategies. Additionally, as customization has become a growing preference, add-ons have become an essential part of personalized offers and 28.1% of customers offered add-on options to allow customers to tailor the subscription to their needs.

Prioritize quality control

The engine of a successful subscription-based payment model is customers who feel confident and happy to use and pay for your service or product. Your quality control procedures will play an integral part of making that possible. You must be forever vigilant and closely monitor the quality of your product or service performance and delivery, customer service/customer experience and the payment process.

Embed quality control into your workflow by making it part of someone’s job description (yours, Freelancer friend!) to confirm that customer expectations are met, respond to and document glitches and monitor the turnaround time for resolving issues. BTW, attentive quality control will make you quickly aware of brewing customer concerns, knowledge that can, for example, reveal service enhancements that customers may appreciate. You may discover another way to instill trust and value in your company. 

Expectations and the customer experience

Begin setting expectations when prospective customers first interact with your subscription sales funnel. Life is about managing expectations and it’s in your interest that every customer understands what is (and is not) included in the subscription you want them to buy—e.g., accessible services, products, tools, supporting technologies, change orders and how to reach customer service on the phone. In order to make an informed decision, subscription prospects must understand and accept what the service offers, channels for contact and the level of support offered by your organization.

Be advised that available payment methods are now an essential part of the customer experience. Economic uncertainty has made customers exceptionally price-sensitive and potentially influenced by their satisfaction, or disappointment, with the payment options you make available, along with the add-ons or upgrade options and other customization features. Debit cards remain the most popular payment method (68.6%), but the desire for access to alternative payment methods is now undeniable. Including subscription payment methods that were once seldom available can address the growing preference for a convenient, seamless payment experience that recognizes customer needs.  Alternative payment methods have been proven to generate more revenue (5.0% renewal invoice decline rate) and help prevent fraud (0.9% of failed fraud transactions). 

Customer retention

The smartest business owners will implement customer retention strategies designed to discourage customer churn and grow the subscriber base. The customer experience presents numerous opportunities to appeal to customers by offering potent sweeteners that may include loyalty rewards, product or service bundling, hybrid models, subscription pausing options, or other special offers designed to promote customer satisfaction and loyalty. In 2023, the average consumer churn rate was 4.1%, staying consistent year-over-year. As customers become more particular with spending, their purchases become more intentional, making them less likely to churn once a decision to buy has been made.

BTW, subscription pauses are a convenient alternative to sidestep cancellation when a customer needs relief from monthly payments or product deliveries. 39.7% of merchant sites enabled the pause functionality and prevented over 400,000 plan cancellations.

Thanks for reading,

Kim

Image: © Lucy Lambriex /Getty Images 2015

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Making It As A Freelancer 2024-2025

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Whatever your motivation for entering the Freelance workforce, whether you saw a pathway to more money and/or autonomy or maybe you couldn’t get hired at a W2 job, you should be aware that the number of Freelance professionals and gig workers is growing at a fast clip and market saturation could be on the horizon. In 2023, there were 64 million Americans working independently and we are on track to become the largest share of the workforce, with a 2027 projected number a staggering 50%.

Freelancers who look to marketplaces such as Fiverr and Upwork have already seen evidence of competitors flooding the market and bidding (or under-bidding) as everyone competes for projects. It’s an uncomfortable thought, but you’ll fare better if you start taking steps now to stand out from the crowd. Intensifying competition increases the necessity to identify and promote your unique voice and personal brand. How can you differentiate?

You already know the answer—keep up your inbound marketing and focus on the services you provide and the results you deliver. Focus on your ability to give clients what they value most and communicate your value proposition and make it clear at every touchpoint. Optimize your website and LinkedIn profile to establish your online presence and digital footprint to attract clients. Furthermore, position yourself as a thought leader in your field by using Google’s algorithm guidelines as your recipe—Expertise, Experience, Authoritativeness and Trustworthiness (EEAT).

Remember also the value of outbound marketing and identify useful tactics to source (and retain) clients and give yourself viable alternatives to the increasingly competitive, and sometimes frustrating, Freelance marketplaces. It will never hurt you to get some face time with potential prospects and those who might be able to refer you. Networking can be effective in any number of settings, business and personal, but be sensitive to pushing yourself onto people, which is a turn-off. If you can figure out where decision-makers for your skill set can be found, then that’s where you set your sights. It’s not only who you know, but who knows you, and that’s how you get contracts.

Top 10 Freelance jobs 2024

The trend toward Freelancing is impactful for all professionals, self-employed Freelancers and traditionally employed, and our reconfigured workforce has already disrupted the workplace we once knew. Freelancers especially need to know what is happening within this new workplace environment, so that you can respond in a way that makes sense—upgrading your skills or adjusting your services and marketing strategies and tactics, for example. Below is a review of the typical hourly billable rate you can expect to earn in one of the top 10 Freelance jobs, as reported on Salary.com, ZipRecruiter and Payscale:

  1. Freelance writer—$23.27/hour
  2. Editor—$32/hour
  3. Photographer—$37/hour
  4. Producer—$39.71/hour
  5. Freelance Director—$55/hour
  6. Translator—$20/hour
  7. Copywriter—$29/hour
  8. Graphic designer—$32.64/hour
  9. Creative director—$62.18/hour
  10. Camera operator—$36/hour

Emerging Freelance jobs 2024-2025

Impacted by mass layoffs, ghost job postings and the corrosive effect of inflation, the 2024-2025 job market is expected to remain challenging, a condition that’s predicted to lead increasing numbers of employers to hire Freelancers and workers to resort to Freelancing. Below are skill sets poised to dominate the Freelance marketplace in 2024 and beyond.

1. Virtual Assistant

The global virtual assistant market is growing fast and is expected to reach $15.7 billion by 2028.  VAs have become an important resource to drive business growth. The strategic use of VAs can produce heightened levels of efficiency and innovation for businesses, from streamlining operations to enhancing the customer experience. Furthermore, hiring VAs is significantly less expensive than hiring full or part-time employees.

The vast majority of Freelance VAs work from home, performing tasks such as coordinating calendars, responding to emails on behalf of clients, and/or performing other administrative work that enables the client to focus on work that only s/he can do. VAs often work with small businesses and even Freelance colleagues who need assistance handling administrative work, social media posting, or invoicing, for example.

Tech-savvy VAs are also in high demand and those skilled in technology and automation can earn $50-$75 per hour. Many businesses, schools or other organizations host online groups for customers or students and need VAs to keep these communities active, relevant and helpful. Businesses need help setting up and managing their digital tools and community management has become a growing niche.

2. AI Prompt Engineers

AI prompt engineering will continue to be a fast-growing specialty in 2024-2025 and as AI is further integrated into business processes, the skills of prompt engineers will become increasingly valuable. This emerging opportunity entails both technical expertise and creativity. Prompt engineers write instructions that guide AI systems to generate accurate and useful outputs. The job is about designing and refining input for text generators like ChatGPT, Bing, or Notion and text-to-image generators like DALLE-E, Designer’s Image Creator, or DreamStudio. Freelancers who’d like to enter the field must understand how these AI models work and how to communicate with them effectively.

Prompt engineering plays a critical role in guiding AI models, like Large Language Models, to produce desired outcomes based on specific inputs or requests. These professionals facilitate effective communication between the user and AI technology and the prompt engineer must develop the art of crafting targeted questions or instructions that direct AI to find and share the top on-point responses in real-time conversations. Companies are aggressively seeking prompt engineers to help perfect the functioning of their AI systems and they are offering high salaries, with some positions paying six figures.

To succeed as an AI prompt engineer, you’ll need excellent communication skills and a good grasp of natural language processing. Knowledge of programming can be helpful, but is not always required. Because the technology is new, to get started, you can take courses in AI prompt engineering to gain familiarity with and proficiency in the different AI tools. Building a portfolio of successful prompts is a great way to showcase your skills for potential clients.

3. AI Ethics Consultants

Artificial Intelligence Ethics specialists are in quite high demand as more companies use AI systems. Companies need experts to guide them through ethical challenges and the AI Ethics Consultant role is to promote the responsible use of AI and ensure that AI systems comply with established ethical policies and guidelines. You’ll conduct ethical impact assessments to identify potential bias and evaluate AI systems for fairness, transparency and potential harm. The AI Ethics Consultant also advises other team members on ethical implications and works with the legal department to guarantee that laws and regulations are followed. Furthermore, the AI Ethics Consultant develops guidelines for AI use, assists with company policy development and trains teams on ethical AI practices.

AI ethics is gaining attention and creating a positive employment outlook for AI Ethics Consultants. This specialty requires both technical expertise and ethical knowledge. You should understand AI systems and be able to recognize and remedy potential issues. To succeed in the field, stay updated on AI trends and ethical debates. Develop a strong network in the tech and ethics communities. Opportunities are available in consulting firms, research organizations, technology companies, government agencies and enterprise companies.

This role requires a bachelor’s degree in computer science, ethics, or philosophy and most employers will prefer a graduate degree. It is recommended that you obtain certifications in AI ethics to boost your credibility. Showcase your knowledge and status as a thought leader by writing articles or scheduling speaking engagements. The pay for this role can be substantial and AI Ethics Consultants typically charge premium hourly rates for their expertise.

4. Sustainability Engineers

Sustainability engineering will offer numerous opportunities to Freelancers in 2024 – 2025 and Freelance sustainability experts are in high demand in many industries. As businesses face pressure to become more eco-friendly, sustainability engineering skills will become increasingly valuable.

Companies are looking for experts to help them reduce their environmental impact and meet new regulations. This could include designing energy-efficient systems, developing waste reduction plans, or creating sustainable supply chains. Green building Freelance projects are available at architecture and construction firms and projects that help manufacturers switch to renewable energy sources are also expected to be plentiful. The services you provide will likely include carbon footprint assessments, environmental impact studies and sustainability strategy development.

To succeed in this field, a background in engineering and environmental science is required and being up-to-date on cutting-edge green technologies and sustainability practices is a must. Certifications in areas like LEED (Leadership in Energy and Environmental Design) will help you market yourself to potential clients and earn a respectable hourly rate. Up-to-date familiarity of environmental regulations and reporting standards is also valuable.

5. Online Course Creators

Education is becoming increasingly important in the Freelance industry and online is the preferred format, making online course creation a promising niche for Freelance work in 2024- 2025 and beyond. Freelancers need the skills and knowledge necessary to compete in a rapidly changing workplace that makes them feel compelled to update skill sets or learn new skills altogether. Experts are needed to create the courses they’ll enroll in.

Online course creators design educational content that typically includes videos, slide presentations, quizzes and other interactive materials and activities that make online learning more engaging. It is not required for online course creators to also be teachers; if you have expertise in a subject, consider leveraging your knowledge and developing a course. Popular topics include business, digital marketing and wellness. Maybe you could create a course on stress management or becoming more creative?

Many course platforms offer user-friendly tools to build courses. You’ll need strong writing skills to simplify complex ideas and make them understandable. To succeed, stay up-to-date with learning trends and technology. Networking with other course creators can help you discover where and how to find work opportunities. Payment for online course creation services can be per course or hourly and it may be possible for creators to also earn ongoing royalties from their courses. Still, it may make sense to use this opportunity as your Freelance side hustle.

6. Cybersecurity

Today, we share more information digitally than ever before and in ways that continue to evolve. Moreover the arrival of new technologies can open the door to cyber attacks and snafus reminiscent of the Crowdstrike incident. Remote and hybrid work are becoming the new standard in the U.S., as employees rebel against coming into the office. According to the U.S. Bureau of Labor Statistics, 11.1% of companies offer a fully remote work environment and 27.5% of companies offer a hybrid work environment. With so many employees who WFH for some portion of the work week, the chance of a data breach increases and that means cybersecurity must be a priority. As a Freelance cybersecurity consultant, your primary responsibility will be to provide expert advice and solutions to clients in order to secure their digital assets from cyber threats.

Becoming a successful Freelance cybersecurity consultant requires that you gain work experience in a variety of cybersecurity roles such as network security, incident response and systems analysis to become exceptionally proficient in analyzing and managing serious security threats that may include threat hunting, compliance and cybersecurity architecture. Obtaining credentials such as Certified Information Systems Security Professional (CISSP) or Certified Ethical Hacker (CEH) is essential, as these qualifications confirm your knowledge and increase your credibility in the cybersecurity industry. In addition to earning the right qualifications, accumulating practical experience and building a strong professional network are also must-dos.

Thanks for reading,

Kim

Image: © Photo by Megan Jamerson/KCRW March 15, 2024. Remote workers use Open Market in Koreatown as a shared office space during an event hosted by LA in Common. https://www.laincommon.com/

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Marketing Enters the Echoverse

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In the 21st century, savvy business owners and leaders must be aware of developing trends and determine which behave like a passing fad and which seem capable of delivering value that make it worthwhile to get on board. One such trend— that looks more like an inflection point than a trend—was documented in 2016 by researchers from the University of Maryland Robert H. Smith School of Business, the University of Tennessee and the University of New Zealand and it’s a must-do. It’s been impacting your business for five years or more, but you may not have figured out the big picture and didn’t know that it has a name.

Introducing the echoverse, a communications phenomenon that describes where digital communication is now and will be for the yet-to-be-determined future. The echoverse was born of cross-channel marketing messages that are initiated by brands, customers, influencers, media outlets, investors and anyone else with a keyboard and bounce and reverberate in feedback loops. These simultaneously independent and co-dependent parties continually add their responses to posted content, chattering on as they follow and listen to each other across all available digital platforms. The outcome of the call and response is the echoverse, a communications environment that enables content to circulate, amplify, morph and echo.

Understanding the echoverse

As you continue adjusting to early 21st century marketing communication practices, keep in mind that the echoverse is controlled by a hyperconnected, 24/7 environment that’s touched by many players—brands, customers, media, AI-powered artificial agents—who contribute to and echo each other’s messages, as summarized below:

  • Communication is omnidirectional. Messages flow in all directions, they may originate from any source and they are subject to reinterpretation through interaction with multiple participants.
  • Influence is communal. Traditional roles of message sender and receiver are waning. Any interested party may initiate conversations and modify, contradict, or reinforce whatever messages are sent in response. Every participant is both a creator and a consumer of content and empowered to impact, contradict, or verify fellow participants.
  • Messages evolve. Messages are impacted, influenced, or amplified by feedback loops and participants whose participation is continually and simultaneously changing.
  • Value creation is shared. What is considered valuable is not necessarily created by a single, all-powerful taste-making source. What’s accepted as worthwhile is co-created and co-owned by all participants, with each one adding unique context, interpretation and/or resources.

Marketing in the echoverse

In traditional marketing communication, the brand drove the bus—defined marketing goals, created all content and chose how messages were sent to customers and prospects. Echoverse marketing has introduced a new playbook. The influence once held by brands has diminished because that entity is now just one agent in a cast of characters who develop and disseminate their own spin as they follow, listen and act upon the official brand messages. Meaning, successful navigation of the echoverse requires brands to pivot from leading to guiding, persuading and encouraging self-appointed and vocal stakeholders through (ideally) well thought-out and presented opportunities to contribute to a process of value co-creation and strategies for promotional communications.

  • Echoverse marketing for Freelancers and SMB

No doubt you understand that both challenges and opportunities are associated with the echoverse. To develop effective and responsive marketing strategies and tactics, marketing managers in companies of every size must embrace its omnidirectional, feedback loop reverberations and prepare for the possible influence of self-appointed stakeholders who thrive in the echoverse.

Like their counterparts in enterprise companies, Freelancers and SMB owners must adopt big-picture thinking and manage all marketing communication channels as an integrated, holistic, interdependent system—a compartmentalized, silo approach will not achieve goals. A cohesive strategy that considers the interactions between various media is essential—an integration of traditional media outlets, social media, your company website, email marketing and other brand promotional activities to create a unified brand message that is consistent and compelling at every touch point.

  • Proactive Customer Engagement

Social media is ideal for allowing brands to engage with customers and curious prospects in a personal and immediate manner. Engaging with customers on social media allows you to hear and quickly respond to compliments, comments, suggestions and complaints. It is the best defense against negative talk that may be expressed by competitors and haters whose agenda is to attack and subject your brand to reverberating echoverse slander.  Brands should focus on consistent, authentic communication that addresses customer concerns and other feedback promptly and effectively.

  • Leveraging Predictive Analytics

If you can budget the expense, investing in social media listening can provide valuable insights into emerging trends and potential problem (or helpful) issues or developments. Being proactive enables brands to anticipate and respond to changes in customer priorities, preferences, or concerns before things get ugly. Tools that analyze data generated by various platforms can help brands identify patterns and adjust their marketing /branding strategies accordingly.

  • Utilizing AI and Internet Technologies

AI tools and other internet based technologies are transforming marketing communications within our complex, interactive communication landscape. In this environment, a diverse network of human and nonhuman participants—including customers, brands, AI agents, traditional and digital media outlets and platforms—continually interact, influence and reshape messages across platforms. Traditional one-way and two-way communication models have given way to omnidirectional communication for the foreseeable future.

Thanks for reading,

Kim

Image: © Swiss Yodeling Association. Alpshorn players create echoes in the Swiss Alps.

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Make Sure the Price is Right

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If your goal is to build a thriving and sustainable business entity (and I know that it is), it’s imperative that you determine the right price point for the goods and services you sell. Establishing the most advantageous price range is an element of your marketing strategy. That means your pricing strategy must align with both the brand identity and market position occupied by your products and services and also be acceptable to target customers. Understand where your company is—and where you want it to be—in terms of perceived brand value. Do you consider your company to be a discount option, middle-road, or a luxury option?

Pricing is integral to business profitability and a cornerstone of business success. Experienced business owners and leaders agree that a pricing strategy can make or break a company—set prices higher than what customers care to spend and sales are lost; set prices too low and revenue potential is not achieved.

Surely, you’ve noticed that pricing has been a sensitive topic over the past few years, as inflation that (allegedly) topped out in 2022 caused the prices of numerous goods and services to rise as business owners sought to protect their profit margins from increases their organizations faced for the raw materials, acquisition costs, transportation and other expenses associated with bringing goods and services to market.

Unfortunately, readers of this post—mostly, Freelance consultants and SMB owners—often lack the financial cushion to withstand all but the briefest periods of economic adversity. Enterprise companies and other well-capitalized entities are better equipped to absorb both the rising costs of product production or acquisition and customer push-back associated with higher retail prices. Instead, the “little fish” are squeezed between inflated business costs and customer reluctance to accept price increases. Their reluctance may stem from budget cuts that inhibit B2B sales and in the B2C sector, the problem can stem from wages that may not have kept pace with inflation. Both scenarios can lead to prospects who second guess their need to spend and result in shrinking sales revenue.

As was discussed in last week’s post, being in business is all about solving problems, is it not? In order to survive, companies large and small must at least generate enough revenue to cover operating costs. Increasing the price of your goods and services might make you nervous; it may appear that you’ll lose a customer or two and that is worrisome. Keep in mind that customers are aware of inflation. They also understand that you are in business to make a profit. Optimizing your pricing strategy is the best defense. Offering a simplified version of your products or services can perhaps be an attractive option that may allow you to retain price-sensitive customers.

Calculate production/ acquisition costs

Let’s start with the math: (Price – cost) x quantity = profit. Before pricing your products or services, you must calculate the time and money you spend to obtain or create them. Tally the costs of each item purchased and each hour spent to produce, acquire, or create each product or service that you sell. So, if you purchase at wholesale products that you resell, calculate the costs of buying and shipping those items. If you manufacture the products yourself, or outsource the production/manufacturing, calculate the costs of the materials, manufacturing expenses, employee wages and the time you devote to production tasks.

Likewise, if your business is based in the knowledge economy—maybe you customize business strategies, or you create sales training workshops that you present in video classes—to the best of your ability, calculate the number of hours spent designing your intellectual property and assign an hourly rate to yourself so that you can determine the wholesale cost of your work (keep in mind that you’ll bill your clients at retail).

Once you’ve confirmed the amount spent on obtaining or creating your products or services, you will have discovered a vital piece of financial info—the break-even point, which represents the minimum selling price required to cover the costs you’ve invested to obtain your products and services. For info on pricing tools that might be useful for your business entity, click: https://www.symson.com/blog/best-competitive-pricing-tools

Benchmark against key competitors

Both industry statistics and the pricing habits of key competitors can provide guidance when evaluating potential pricing strategies. Within each industry, there are typical standard mark-ups and profit margins that are recognized as normal ranges. This info can help Freelancers and SMB owners to first, understand if their product/ service acquisition or development costs are too high or low relative to the typical selling price range and also where, or if, their selling prices fall within the typical price range for that product or service.

Further confirmation can be gained by investigating the pricing of two or three direct competitors, to discover an upper and lower price tolerance for your customers and identify a pricing sweet spot. In other words, for products similar to what you offer, if you discover that the most expensive competitive price in your market is $300 and the lowest is $100, that’s a convincing indication of the price range your customers accept and you can therefore confidently price your offerings somewhere between those values, guided by your production or acquisition costs and your company’s brand identity.

Emphasize value, not price

Benchmarking the pricing of certain competitors can be instructive but you should avoid copying what your competitors do. Competitive pricing intel is best utilized as guardrails that help you discover a price range that your customers can be expected to accept. Believe that your products and services can stand on their own merits—that is, the value your brand delivers. Your company and its products and/or services are more than just a price tag, more than a commodity.

Too many Freelancers and SMB owners attempt to win customers by being the cheapest game in town. This mindset nearly always leads to underpricing—undervaluing— your products and services and your company as well. When you choose to primarily compete on price, it is unlikely you’ll ever preside over a thriving entity. It’s much more likely that you’ll be trapped in a race to the bottom as you compete with those who are willing to undercut your price whenever necessary. According to spellbrand.com, “by being the cheapest or lower priced, you attract the wrong customers. You attract customers who make decisions based on price and not value.” Leave the price wars to Walmart and focus instead on how much customers might be willing to pay once they understand the value associated with your organization.

When you compete on value, you will attract and interact with prospects who respect you, your professionalism and abilities, and your company. The moment you decide to emphasize the value, you will attract those ready to invest at the level of service or product you can deliver. 

On that note, along with a thrifty vision of your product or service to attract price-sensitive prospects, develop also a VIP up-sell category in each product or service that you provide because there are always customers willing to invest in the very best you offer. Including a premium option of your products and services is a quick way to add even more revenue to your business income streams. When you are playing the long-term game as an entrepreneur, you want the best.

Thanks for reading,

Kim

Image: LazingBee