That's a fair point but people love discounts and some of the clients have been with me for over 2 years and have been paying full price for most of it, offering a discount can set a president you dont want but it all depends on the client. I have had some clients push really hard for discounts so it all depends on what it takes to make the sale. In most cases the work involved is literally a few minutes a day monitoring stuff that's been automated so there is a lot of wiggle room.
As for the question you had for Sherb. I have a client who's company was acquired just before Christmas for close to 40 million, I'm not sure what their turnover was but it was in the tens of millions. Their products are all over QVC in national chains like Starbucks, provided on airlines and in other big stores and the company that bought them has several similar bigger more well known brands. I hope to be offering some of their products via FBA and running the social media for some of the other brands that they have because of my relationship and discounts I have given them. I have also been on hand to answer questions about social media and have helped with influencer marketing questions and implementation. We post on each platform once a day and have months worth of generic none time sensitive posts already set up so it's literally minutes a day but to a company like that who wants consistency and daily monitoring its worth the price. We got $2,500 a month from them for the brand that we already did. We literally just signed a 12 month deal to continue where they paid in full as we gave them the offer of paying month to month or to pay in full and get it at $2,000 a month so she paid $24k up front. I have been working with her for 2 years come march 1st and they paid $55k up till this point. That was 45k worth of the month to month services and 10k in the beginning for increasing their followers so their social media size matched the actual size of the business. They literally only had double digit follower counts on their social media when they first got in touch, we got them into the mid five figures and then started the daily monitoring and content.
The way I see it is that the discount secured me 12 months. This is a VERY competitive market and the majority of providers charge way less than I do so regardless of if I have done a great job for them if someone comes along and offers them the same service for $1k instead of my $24k then they might take that. I can't compete with providers in countries where $1k is a years salary. The down side is that I am tied into having someone monitor and post on their social media for 365 days running and worrying about making sure it gets done every day and properly, I end up having to do it myself much of the week if I have to write something on the fly or get sent something time sensitive to post.
I wouldn't say never cut your prices, it all depends on the situation.
