Business technology

Boost consulting fees to $500/hour? Here’s how.

- November 6, 2014 3 MIN READ

Your blog can help you boost consulting fees to $500 plus per hour. I do it. You can too.

A couple of weeks ago I received an email asking if I did private coaching on how to boost consulting fees.

I don’t advertise any private coaching programs. I have offered them sporadically in the past, but usually I announce them as a one-time special offer.

The individual who enquired had read one of my blog posts and decided I was the right person to answer his questions.

I wrote back saying I offer one hour coaching calls for 500 dollars an hour and that I also have a group coaching program that is a smaller investment.

I received a reply quickly asking for a one hour session, sent through the PayPal link, and had 500 dollars in my account a few minutes later.

Your blog is a perception filter

Consulting or one-on-one coaching is not my favourite way to make money.

It’s low-leverage. You only help one person at a time and you get paid by the hour.

That being said, if you earn a high hourly rate and you have quality clients who do the work you tell them to do, it can be some of the most rewarding work you will ever do.

The important thing is to make sure your time is highly valued. Bear in mind that value perception, is a perception. Perceptions are easily influenced, particularly online.

You can earn a high hourly rate if people believe they will receive much higher value in return (and of course they will!).

A blog is by far the best online tool to leverage in order to establish your credibility, expertise and to demonstrate why you are worth a high hourly consulting fee.

A blog, when done correctly, will do all the selling for you. You may not even mention that you offer consulting or coaching, but the sheer power of your content will compel people to want to work with you. You only need to decide your fee.

Want more articles like this? Check out the small business blogs section.

How to use your blog to land high paying clients and boost consulting fees

1. Demonstrate your results

If someone desires an outcome and they see you have achieved that result yourself, they will hire you to show them how to do it.

Use your blog to tell your story and do a thorough job. This is not just a short “About” page, it should be a long article, or series of articles, or even videos.

2. Demonstrate your client’s results 

There is only one thing more powerful than your own results, and that’s the results of other people you have helped. Show in-depth case studies and share interviews with your clients. Ask your clients to explain in detail how you helped them and the results they enjoy.

3. Translate your value into numbers 

In order to justify a high hourly rate there must be a higher return on investment for the client.

The equation should be simple. If they pay you 500 dollars an hour, they should earn much more than 500 dollars in return (or equivalent value).

This can be made much more tangible when you quantify things. Explain how applying one technique or your “system”, results in an outcome that is worth $X to them.

Some subjects you can quantify by asking your audience how much they value something. For example, if you help people lose weight, ask, “How much is your health worth to you?” If you help men dress with style, ask, “How much is a date with your dream girl worth to you?”

4. Credibility boosters 

Perceived value is heavily influenced by credibility boosters. Anything you can do to raise your status helps. Here are credibility booster examples: publishing a book, working with a celebrity client, appearing on the cover of a magazine and footage of you talking on stage at a big event.

5. Set your price 

The final point is the most obvious, yet often the hardest to implement due to limiting beliefs about your own value.

You have to set your price at the point where YOU value your time. You are paid what you ask for, so ask for what you want. The worst thing a prospect can do is say no, which is fine, because you’re not wasting time doing work at an under-valued price.

Pricing is very much a psychological element. You need the belief that you are worth the fee, and you need to use the necessary proof points to demonstrate to the world that you are worth the fee.

When you get this right, clients will come to you.

In online marketing, your blog is by far the best tool you have to demonstrate and raise your value and boost consulting fees. Here’s to your blogging success!

What are your thoughts on how to boost consulting fees through blogging?