Hey there! In this article, Jason Wardrop shares his secrets on how to make $100k/year online with digital marketing. He explains that instead of charging the traditional $2k/month per client, it may be more successful to charge between $300-$500/month based on the pricing of successful marketing companies. He talks about his own experience of adjusting his price points and seeing significant growth in his business. Wardrop also suggests offering a free 7-day trial to potential clients to showcase the value of his services, and then offering clients the option to upgrade to an annual subscription with two months for free as an incentive. He emphasizes that this strategy can be scaled up to achieve even higher income goals, such as $1 million/year. Additionally, he mentions a free training available in the description for those interested in learning more about getting clients and offering services in the digital marketing industry. Sounds like a valuable resource for anyone interested in boosting their online income through digital marketing!
Setting the Right Price Point
Understanding traditional pricing methods
When it comes to running a digital marketing agency, one of the key factors that can significantly impact your success is setting the right price point for your services. Traditionally, many marketing agencies have followed the approach of charging clients around $2,000 per month. However, this method may not be as effective as it seems. Jason Wardrop, a successful digital marketer, suggests exploring alternative pricing strategies that have proven to generate better results.
Exploring successful pricing strategies
To identify successful pricing strategies in the digital marketing industry, Jason Wardrop conducted thorough research on the pricing models of top marketing companies. He discovered that these companies tend to charge their clients between $300 and $500 per month. This lower price point offers several benefits, such as increased client acquisition and retention rates. By studying the price points of successful companies, marketers can gain valuable insights into effective pricing strategies for their own businesses.
The effectiveness of charging $300-$500/month
Jason Wardrop implemented the alternative pricing strategy of charging $300-$500 per month for his services. The results were impressive. He experienced significant growth in his business after making this adjustment. Compared to his previous pricing model of $1,500 per month, the lower price point allowed him to attract and retain more clients. This shift not only increased his client base but also boosted his overall revenue. The success of Wardrop’s experience highlights the effectiveness of charging $300-$500 per month and encourages other digital marketers to consider this pricing model.
Adjusting the Price Points
Jason Wardrop’s personal experience
Jason Wardrop shares his personal experience of adjusting his price points for his digital marketing agency. In 2016, he was initially charging $1,500 per month for his services. However, he realized that this pricing model was not sustainable, as he lost the majority of his clients within a short period of time. Determined to find a better approach, Wardrop looked at the price points of successful marketing companies and made significant adjustments to his own pricing strategy.
Significant growth in business after making adjustments
After recalibrating his price points to align with the industry standards of $300-$500 per month, Wardrop’s business experienced remarkable growth. Within 90 days, he went from making $1,500 per month to over $25,000 per month. These numbers clearly demonstrate the positive impact that adjusting price points can have on a digital marketing agency. By offering services at a more affordable rate, Wardrop was able to attract a larger pool of clients, resulting in exponential business growth.
Benefits of offering lower-priced options
Lowering your price points can offer several benefits to your digital marketing agency. Firstly, it increases your accessibility to a wider range of potential clients. Many businesses, especially startups and smaller companies, may not have the budget to afford high-priced marketing services. By offering lower-priced options, you can tap into this market and acquire more clients.
Secondly, a lower price point makes it easier for clients to justify the investment. They may be more willing to try out your services and see the value you provide. This can lead to higher client retention rates and increased customer satisfaction.
Lastly, offering lower-priced options can position your agency as a more affordable and attractive choice in the market. This can differentiate you from competitors who adhere to traditional pricing models and help you stand out in a crowded industry.
Showcasing the Value
Importance of offering a free trial
In order to persuade potential clients to choose your digital marketing services, it is essential to showcase the value you bring to the table. One effective way to do this is by offering a free trial. A free trial allows potential clients to experience your services firsthand, giving them a taste of the benefits they can expect.
Attracting potential clients with a 7-day trial
Jason Wardrop recommends offering a 7-day free trial to attract potential clients. This timeframe provides enough time for clients to see results and experience the value of your services. During the trial period, you can demonstrate your expertise by delivering impressive outcomes and showcasing the impact you can have on their business.
Proving the value of services during the trial period
During the trial period, it is crucial to actively engage with the client and ensure they experience the full potential of your services. This can include providing personalized strategies, regular check-ins, and progress reports. By constantly proving the value and benefits of your services, you increase the likelihood of clients converting to paid subscriptions once the trial period is over.
The Upgrade Incentive
Encouraging clients to upgrade to an annual subscription
After the trial period, it is important to present clients with the option to upgrade to an annual subscription plan. This provides them with stability and a longer-term commitment to your services. Wardrop suggests promoting the annual plan as a way for clients to maximize their results and experience continuous growth.
Adding two months for free as an incentive
To incentivize clients to upgrade to an annual subscription, it is common practice to offer additional perks. Wardrop recommends giving clients two months for free when they choose the annual plan. This acts as a powerful motivator, as it provides clients with immediate savings and reinforces the long-term benefits of the commitment they are making. By presenting this incentive, you can increase the likelihood of clients choosing the annual plan and boosting your revenue.
Increasing revenue through annual plans
By prioritizing annual subscriptions and encouraging clients to upgrade, you can significantly increase your agency’s revenue. The upfront payment for an annual plan allows you to generate larger cash flow, which can be reinvested into expanding your marketing efforts, hiring more team members, and scaling your business. The stability of annual subscriptions also provides a more predictable and sustainable income stream, making financial planning and growth strategies easier to execute.
Achieving $100k/year
Getting three new clients per month
To achieve a yearly income of $100,000, Jason Wardrop outlines a simple process of acquiring three new clients each month. By consistently bringing in new clients, you can gradually build your client base and revenue.
Calculating the income from annual plans
Assuming each client pays $300 per month for an annual plan, their total payment for the year would be $3,600. Multiply this by three clients per month, and you can generate $10,800 in monthly income. Over the course of a year, this adds up to an impressive $129,600, well surpassing the $100,000 goal.
Reaching the $100k/year goal
By achieving a consistent flow of three new clients per month, you can easily reach and exceed the $100,000 per year milestone. This straightforward approach proves that making a six-figure income with your digital marketing agency is within reach if you implement effective pricing strategies, attract new clients, and optimize your revenue streams.
Scaling Up for Higher Income Goals
The potential for scaling the strategy
Once you have mastered the process of acquiring three new clients per month, scaling up your income becomes even more feasible. The strategies and principles outlined by Jason Wardrop can be replicated and expanded to accommodate higher income goals.
Increasing the number of clients and revenue
To scale your business and increase your income, you can focus on increasing the number of clients you bring in each month. By fine-tuning your marketing and lead generation efforts, you can attract a larger audience and convert them into paying clients. As your client base grows, so will your revenue.
Exploring the possibility of earning $1 million/year
The success of Jason Wardrop’s pricing and business strategies demonstrate that reaching income goals of $1 million per year is possible with a digital marketing agency. By diligently applying the techniques and adapting them to your unique business, you can aim for greater levels of success and financial achievement.
Free Training and Resources
Jason Wardrop’s free training
As mentioned in the video, Jason Wardrop offers a free training resource for those interested in learning more about acquiring clients and offering services in the digital marketing industry. This training provides valuable insights and guidance on how to effectively implement the strategies discussed in the video.
Learning more about acquiring clients
Acquiring clients is essential for the success of any digital marketing agency. To gain a deeper understanding of client acquisition techniques and strategies, it is highly recommended to take advantage of the free training provided by Jason Wardrop. This resource can provide you with valuable knowledge and help you maximize your client acquisition efforts.
Offering services in the digital marketing industry
The digital marketing industry presents numerous opportunities for individuals and agencies to offer their services. If you are interested in pursuing a career or expanding your business in this field, Jason Wardrop’s free training can be an invaluable resource. It can equip you with the necessary knowledge and skills to thrive in the competitive landscape of digital marketing.
In conclusion, setting the right price point, adjusting price points, showcasing value, providing upgrade incentives, and scaling up are all vital elements in achieving a successful digital marketing agency. By studying successful pricing methods, implementing effective strategies, and maximizing revenue streams, you can reach your income goals and experience significant growth in your business. With the right mindset, dedication, and a willingness to learn, you can make $100,000 per year and beyond in the digital marketing industry.