“I never thought I’d find myself engrossed in a book about web design!”
I was talking to a client who had been thinking about having his website re-done. He’d downloaded the ebook because he thought it just might give him some background into the latest trends, but wasn’t anywhere near ready to appoint a web design company.
But this free guide actually turned out to be quite interesting and full of useful insights. So of course, the company went straight onto his shortlist of possible providers.
In the end, though, he went with another supplier because it turned out the first one only offered website templates – and they were looking for something bespoke.
If only they’d had a better value ladder, he would have been theirs…….
I started telling you about value ladders in this blog post. It’s the idea that when you’re selling online, you need a range of products at different price points, so that you can entice customers in at the low end, and then upgrade them to your more expensive products.
Alternatively, you maximise the revenue you generate from customers who are willing to spend ‘big’ straight away, by selling them additional products.
So what kind of value ladder could a web design company build? It might look something like this:
• Guide to the latest trends in web design
• Video series on how to build a perfect website
• Package of templates for creating your own website
• ‘Done for you’ service, using the templates
• Fully bespoke website
• Continuity Programme: Monthly maintenance contract
The bottom rung of a value ladder doesn’t have to be free, but it should be low-cost, low-risk and low-commitment. It shouldn’t take you long to put together, and ideally it should be something you can give away or sell without creating much work.
Information products are perfect here: Guides, checklists, that sort of thing.
Each subsequent offering represents an increasing level of commitment to the brand, offering more value at higher cost. As you go up the ladder, you’ll do more for the customer and offer a more bespoke service.
And right at the top you have a continuity programme – where your customers pay you a monthly or annual fee in return for an ongoing service. This provides you with a source of recurring income as well as keeping customers in touch with the brand.
I promised not to mention my hairdresser again, but how about a private dentist? Their value ladder would probably look something like this:
• Offer of a discounted teeth cleaning (Hygienist)
• Check-up, cavity-filling (Dentist)
• Tooth whitening (Dentist)
• Tooth straightening (Orthodontist)
• Continuity Programme: Regular check-ups
Most value ladders for services, and some for products, will have a similar progression in terms of access to top talent.
And this time the continuity programme provides an alternative first step onto the ladder, because a check-up plan (perhaps at reduced price if you pay by regular direct debit) gives a low-cost, no-risk offering.
The key is to always have something else to sell.
In my next post I’d like to show you how you might start building a value ladder for your own business. But you needn’t wait if you’ve already started thinking about your own ladder – let me know your thoughts. How’s your ladder shaping up? Can you see any missing rungs?
