Services Pros and Cons

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Transcript

All right, one of the last things that I want to cover is the idea of services. And these, of course, can be very beneficial in a sense that services usually have a high demand. So a lot of people want these types of things if you're using virtual assistants or outsourcing, you know, manual labor, data entry, any of these sorts of things count as services, something where, again, someone has to make a deliverable, they have to actually put in energy in order for this thing to be delivered properly. It's a it's a process. It's not just an automatic delivery, like an affiliate, or if you even own your own product, less that product is physical, then you're getting into again, services again. So services can be a wide range of things, but oftentimes, they're beneficial because they can be a oftentimes continuity.

And for those of you who don't know, continuity simply means you're going to be charging something on a country. You will basis whether daily, weekly, monthly, or even yearly, these types of charges are going to come on a periodical basis that will allow you to guarantee forever, but for a certain amount of time, I've often found it to be anywhere from four to six months depending on what type of service you offer of continual payments. So you signed someone today, six months of payments, sign someone next week, six months of payments, that's usually what you're aiming for, especially when I do microcar nudies, where I say, Hey, I'm gonna deliver SEO services for six months or 12 months just sign this contract, pay a monthly fee. And what they'll end up doing is allowing me to leverage much more what I'm able to spend so outside of owning my own product, my own a service, I can spend the most.

Out of all these things, the affiliate can probably spend the least owning my own product, I can spend a pretty darn. I mean, like almost more than I would even make just a little bit more so I can outspend competitors but with services, since it's a continuity and it goes over a period of time, those customers are going to be much more valuable to you, they're going to be a higher retention. And there's a lot more that can go right inside of a service. Because with that you can do upsells you're more personable contact, things like that. And other thing I would say is customer contact. And what I mean by that by customer contact is the ability to go back month after month and say, Hey, we delivered something or week after week we delivered something here this is I'd love to talk with you for a little bit about what we deliver you get them on a consultation call that becomes an upsell call.

That's something where you can get people into the next modem of what they need to do or By in order to reach that desired result. So for me, that may be something like, Hey, we set up your sales funnel, we have everything going. Now that we did that, let's go ahead and do some SEO work. And we'll set up a six month contract for some SEO work and say billing 500 or thousand dollars a month. Now, we all of a sudden increase the average customer value over their lifetime of what they're worth to us. So that means we can spend more, because they're worth a lot more to us with those types of continuity.

You know, when I have my own product, even my own value ladder, the most someone's going to end up probably spending with me over the lifetime of their lifetime is about $30,000. Now that is a lot of money. But when it comes down to if I help you build a business, something that's making you six figures a year, a year, two years from now, that would be a great $30,000 investment, right? I think nine out of 10 people who had $30,000 would take me up on that offer and go as long as I can be virtually guaranteed, I'm going to have that business. Well, that's exactly what I have as a long term for my own product and my value ladder. But with services, I can upsell so many different continuity is in fact, when I was inside the SEO industry still am, I was selling these types of services, I was selling 12 and $25,000 contracts as a front end.

And that means I was hooking them in for anywhere for 12, sometimes 24 months, and over those 12 to 24 months, I would get to upsell them on all types of different stuff. Now, it wasn't just small trinkets, like here and there. It was like hey, you know you enjoy your art these articles, you know, would you like more articles and content for your blog? If so, you know, we can write 10 or five articles a month for you. They're professionally written for just $250 you know, and they'll be written by professional native, you know, English doctorate, copywriters, whatever it is, we would upsell them on those things. It would be larger packages.

And that's how I personally myself not including any of my own employees, or anybody else that did the sales, just me, I was able to close quarter of a million dollars because the services allowed giant oops. upsells. And I mean it, it seems a little odd at first to go, Well, they're paying me 12 $20,000 Why would they be paying me more? Because, number one, these companies are having success with your marketing or whatever you're doing whatever advice you give, if what you give creates success, then it should be redundant in asking why you should offer more of your services to them. Even the people who have had success with what you're offering. They're going to come back and go, what's the next thing we can do?

How can we take this the next step further? What can we involve to get this done? Going to that next degree or plateau, giant upsells are the best way to fill those needs. I just had a great SEO campaign finished with a client. They ranked, I think it was like 10 or 12 keywords. They're getting about 10,000 searches a month, page one.

So now the question was, Hey, you got all of this. They kind of did a little backwards. I said, Why don't we build out your website. So it's a properly set up sales funnel. And now that was the next upsell, and that's another 12,000 $15,000 upsell, and it's going to take us one to two weeks to build out. So it's a very easy thing when you have services to come and make a lot of money from just a few momentous occasions where you're meeting together.

You know, they're wowed by what you've delivered, and it's the perfect time to approach them and get them to buy that next thing. Oftentimes, most people buy my upsells within the first three months after three months. is over. I don't know why people kind of like get fed up, even though I'm making them tons of money by month, like, you know, nine or 12. And they kind of go, I don't know if we should do this contract, and then people end up coming back because rankings drop and they go, Oh boy, I guess it was your work that was doing all this, but people forget, unless you offer them upsells upsells actually keep the customer retention high, because it keeps their happiness level of what they're investing in and what they, what they see that they're getting out or even believe that they're getting out. See, sometimes I show them numbers where it's like, my God, I just made you $25,000 with you just handed me 10 like who wouldn't say yes to that and pure profits.

And then there's the time where you know, when they're most happiest after they sign that contract now, even after I made them 12 months later, an extra $15,000 or $20,000 this year, they're actually happy at the very beginning because it's just that wow factor. This is going to be everything and you know whatever's in their head. You can never meet that You can try and align yourself and get their expectations, you know, on the right level with what you're delivering. But at the end of the day, their expectations are just going to boost right back up to what they were believing. And it's going to start right back again. So the best thing about services is hitting them up in the beginning and it keeps retention.

And you can keep some of these people forever because that's what services are all about. Now, the negative thing about this is long hours. Tons of work because usually you have to do all types of stuff. If I build out someone's sales funnel for 12 to $15,000. Guess what, my entire week is filled out and so are three or four of my guys we're building out all these sales funnels, customizing things for you, and it sure as heck you know is quicker inside sales funnel or Click Funnels, but at the same time, we are building out an entire value ladder, there's a lot to do. There's a lot of products that we have to talk you through And that you have to create and building those sales funnels so that they match the ad copy and the messages and what you're delivering on inside those products, especially if they're not created yet.

Takes a lot of back and forth and rigmarole. So there's tons of work inside of that doesn't mean you have to make sales funnels doesn't mean you have to go into the make money online niche. But when you do deliver a service, there is work there is hours, there is time there is effort, there is even more money invested in it. And that kind of thing about services. The other thing is service. Industry sucks.

All right. I can't say that enough. Like anyone's been inside the service industry understands. That's why I moved out of it, even though it was great money and I was making like tons from doing SEO Services. It was just too much of a hassle because the service industry it's just natural for you to get pounded and asked every single thing for every dream client I had, I had probably three or four nightmare clients. And that's not that they everyone was a nightmare.

It's a nightmare. I mean, they're there their ideas of what we were supposed to deliver for that service. And then five, six months down the road, what their ideas are still changed dramatically. And it's usually depending on their life and their environment. Even though we keep up on monthly calls, consultations, all types of stuff. In the service industry, people just expect you to be hand and foot, always there for them.

If they're paying you 1000 bucks a month. Why aren't you picking up the phone every single second, and it sucks because 1000 bucks is not able for me to pick up the phone any second. In fact, nowadays, I start charging anywhere from 500 to $1,000 for a consultation session, because I want people to kind of take that far have a step back away from me. So I can have my own time to envelop inside my business and do that. up my skills more to help my people and I need to narrow that down of who needs the mouse the most help by who can afford that help. So service industry, it's going to suck there is going to be people ragging you tearing you down, telling you you need to do this deliver this, I thought these were the expectations even though you set them and I always have all my, you know, conversations recorded and I go back to it, I go listen to this, listen to our call.

No one's ever listened to our conversations because, you know, closing contracts an hour and a half, two hours sometimes for $20,000. They never listened to one minute of it. Now you go but that was all the expectations we set. Everything was right there. You know, if you if you have any clarification that you need, it's inside this service industry sucks. People just gonna are gonna go whatever.

Like I'm not gonna listen to two hours of audio to pick out the one sentence that you said, well, it's also the one sentence I probably didn't say if you actually listened to all of it. And again, so services can be a downfall. The nice thing is, is that, you know, PayPal and credit cards will often side with you. Now, out of the hundreds of contracts that we've had signed, I gotta tell you, I've had about a handful and really a handful of people that I've had to take to court that I've had to, you know, tell the credit card companies, hey, this reversal was incorrect PayPal, this you know, payment was or this reversal payment was incorrect. You know what, they sent us the money this was right. And we have to go to court and do all this stuff.

So, you know, sometimes in the case of services, they're large and huge. You know, I have a few court cases with my name attached to them, because I had to take people to court because they wouldn't pay me You know, the final 510 and $20,000 that they owe, they would just, you know, be four or five months in, and oh, no, I don't think I want this anymore. And they would stop in the midst of a building procedure. So, you know, if you have something like that, where it's like, Hey, we need these 12 months to be able to help you through everything. You can't just stop paying, it has to be, you know, and another thing, oftentimes, I had to go with up front payments, and it's not that it's a bad thing for you. It's a bad thing for clients and they don't like that.

It's so much harder to convert people saying, Hey, you got $20,000 right here right now today, because you gotta hear me every bit of that before I'm going to even step foot forward. And that's a really hard thing to do. But you also are sometimes taking the chance of people may stop paying these, you know, residual payments in the middle or they may charge you back and that can't affect business that needs to just kind of be a thing that you take You know, unfortunately for me, when I went through some of these things, when we first started up, it was like, we got all the bad people in a row. I mean, it was just maybe our language or something. But we had like a string of six people that just wouldn't pay. And that basically broke our business for almost an entire year.

And again, we had to switch to upfront payments. And that was a huge thing, trying to get people to go over that hill of paying everything up front, or a large portion or even escrow. It was very hard. So inside the service industry, again, there's a lot that can be gained from it. There's a lot that can be lost from it. Do keep in mind that it's something where you're not ever going to feel that pleasure of someone going, oh, wow, thank you.

You know, I've made a lot of businesses a lot of money through ranking them on Google page one for their keywords. So when people you know, search for any product, they come up number one, and they still I have never gotten any lick of thanks. Thanks, Zack. They You know, SEO team, but when I made my own products or even affiliated other people's products, I got tons of praise of Wow, this was great. You know, thanks. I'm glad you talked about this service industry is just a terrible, you're never gonna be thanked.

It's an unfaithful job, basically. So if you can go into that and understand it, and you're not caring really about, in a sense of having recognition, good, because there's not going to be that too often inside a service industry. You're going to get gawked at and yelled at for continual basis of, hey, you withdrew money and you know, you you did one thing wrong this month, and that one thing that's it, it's, it's why the everything's wrong inside their life and you're blamed for unfortunately, so that's kind of the plusses and minuses of offering services.

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