Pricing Strategies

Wondering about your payment policies? Here are my thoughts on the subject.

Most payment policies are actually more about pricing and branding. If you are targeting an audience that needs your services, and (collectively) can afford your services (i.e., your target market is not homeless veterans, and you charge $250 for a resume), your pricing and payment issues should not be as much of an issue as it apparently is for some resume writers.

For clients, it comes down to "trust, but verify." If I'm paying you $500 for a resume, how do I know that I'll get my money's worth? If I pay you 100% up front, I'm taking a leap of faith that I'll get what I'm promised. If I put down a deposit ($50 or 50% or more), we both have something invested in the process, but there's still a finalization process. If you don't collect anything up front, the resume writer takes on the risk of not getting paid. So there's a balance.

How do you alleviate your prospect's concerns? Relationship building is a key part of the process of turning a prospect into a client. (But remember, not every prospect will become a client -- nor should you want all of them!) Create a comfort level with prospects through testimonials, articles, samples on your site, success stories, e-mail newsletters, and certifications.

Allow clients to pre-qualify themselves -- if you don't do $45 resumes, put a range of prices on your site or in your materials so they won't waste their time -- or yours! Your clients should not be surprised when you finally quote a price -- they should have a general idea based on your marketing and positioning of your services. Don't spend 1/2 an hour on the phone talking with someone who doesn't have the ability to pay anywhere near what you charge. At least make sure they're in the ballpark before you make your "pitch," so to speak.

Pricing and payment policies are very much tied into your overall branding and positioning statements. I did marketing for a travel agency for four years. We sold cruises by Carnival ($199/day per person) and those by Crystal Cruises ($599/day per person). We didn't market all our cruises the same way to buyers. Domain names are cheap, and so are websites -- use different websites to target different kinds of clients so you build your credibility with the specific type of audience you're pursuing. We did websites (or specific web pages) just for brides, just for couples without kids, and promoting cruises for those who wanted to put together a group to go with friends, You can also provide specific links to different resources that tie into the target audience.

No matter *how* you handle your payment policies, it should be something that YOU are comfortable with, because if you don't believe in it, your prospective clients aren't going to buy into it. How you phrase things can have an impact, so develop a script that you can refer to during the prospect call.

Communication is the key to happy clients. Communicate what the terms and expectations are up front, so that there are no surprises. This should all be in your Client Service Agreement.

Resume Writers' Digest is Back!

We're back, and it's FREE*!

Subscribe today to my mailing list and you'll receive the September/October issue when it's released next Monday, Sept. 10. If you were a subscriber before (the newsletter was published bimonthly from July 1999 through May 2005), you know that you can expect informative articles designed to help you improve your writing skills and manage your careers business more effectively!

* Starting with the November/December issue, you will only be able to receive the newsletter for free online if you are part of the Resume Writers' Digest mailing list, so sign up today. Use the form in the upper right-hand corner of this page to opt into the list. It's a double opt-in process (you will get an e-mail confirming you want to join the mailing list), so be sure to sign up and confirm your subscription before Monday.

As a resume writer myself, I started the newsletter in July 1999 to get the answers to questions I had about pricing, collections, writing strategies, client management, and more. I'm still writing resumes, and I still have questions. So I brought the newsletter back! (More on this in my "From the Editor" column on page 2 of the issue. You'll have to wait until Monday to read that, though.)

Help us spread the word about the return of Resume Writers' Digest! Send an e-mail to your colleagues. Post the link on discussion groups and message boards for the careers industry. Tell your friends who may be considering getting into the resume writing industry. The more subscribers we have, the better the content will be. And be sure to support our advertisers, and purchase our books and special reports -- your support will ensure Resume Writers' Digest is even better than before!

Story ideas? Questions? E-mail me at RWDigest@aol.com.

And check back frequently on this blog, as it's regularly updated with current events, insightful ideas, guest articles, interviews, and more.

Get More Exposure on Google

You know how sometimes when you type in a business name on Google, there's a whole lot of information, including a map? Well, you can get one of those listings -- for FREE! It's extra advertising exposure for your resume writing business. You can even provide a coupon which will allow you to TRACK this new business!

Visit the Google Local Business Center and create your listing today!

One note -- when describing the category of services offered, they don't currently offer one for Resume Services. I'd suggest listing under Services: Employment & Temporary Agencies. I'd also suggest using the "Suggest Another Category" tools to suggest one for "Services: Resumes." If enough of us put that, they might add it!

September is Update Your Resume Month

September is International Update Your Resume Month!

Visit the Career Directors International web site to download promotional materials for your website!

The message to job seekers is:

What we think of as a 'life print,' or guideline for career development, will provide a proactive approach toward meeting unforeseen market and company changes, in reevaluating personal worth and in preparing to obtain the next step in career growth. Too often job seekers avoid taking this crucial step until the last minute, when they need their resume yesterday. However, by declaring September as the official update month, people will have the opportunity to better control and champion their own futures.

During Update Your Resume Month, every member of CDI will be dedicated to alerting their clients to the value of taking this crucial step in their career development. CDI members will educate clients on one service per week in September, including the Resume Update, Cover Letter Development, Interview Preparation and Job Search Strategy.