Judging Your Worth- A Key to Success

As an industry professional for 31 years, I receive at least two or three calls each week from new investigators curious about my success. The typical question is, “What can I do to promote myself and make more money?” The answer is not that simple. However, the basic facts of this inquiry lie in the investigator himself and the way he projects himself in his profession. As an example, a dear friend of mine asked me this same question a few years ago as he sat in my office telling me the problems he was having in this business. He wasn’t making the money he thought he should be making particularly with the experience he attained over twenty five years as a federal investigator. My first impression (one key to anyone’s success), was the way he projected himself as an unkempt individual. His suit was out of date by at least twenty years, his hair was way too long for his age, his necktie was knotted loosely and he was wearing an obvious “wash and wear” shirt unbuttoned at the neck….not to mention, the whole time we spoke, he slouched in the chair. My answer appeared to bother him, as he became loud, offensive and belligerent. He shouted “What do you mean I have no style and no value?” I explained further, telling him style and value equals quality. Everyone likes a quality product! Once you can prove that you are a quality product the rest is easy!

Of all the licensed private investigators in the nation, only 5% can demand high fee’s for their services. This works the same for any profession such as lawyers, doctors, and accountants. Those making the big money encompass the basic ingredient…Quality. They were not born with it, they develop it, exploiting it in everything they do, from the clothes they wear, to the cars they drive and the offices they work from. Quality packaging yourself and your services cost money, but like the old saying goes “it takes money to make money”.

Through my experiences I have found that the majority of investigators are traditionally weak in two areas 1) marketing 2) selling. There are quite a few investigators making a perfectly, good living getting paid extremely well and providing an adequate overhead, and gives them and the company a fair net profit. How in the world do they do it?

Let’s take an example from another industry, retail. Saks Fifth Avenue is an expensive department store and Kmart is an inexpensive department store. They have each chosen a different road to market themselves, but their goal is the same a 5% to 10% net profit. Their marketing strategy is very different in terms of who they sell to, what they sell and how they sell it. Each store targets their customers. Saks is looking for that small percentage of the population the “upscale buyer” and Kmart wants to dominate the mass market the “price conscious buyer”. Saks carefully differentiates itself by what it sells. But that isn’t enough. You could take a $1,950.00 men’s suit from Saks and place it on the Kmart rack at the same price. Would it sell? Not likely. Why? The customer at Kmart is “price conscious” and the suit is not surrounded by the trappings of quality.

There are two ways to market yourself or service, whether it’s a suit or an investigation. You can sell on the basis of price. Call this the Kmart strategy. Or you sell on value, differentiating yourself or service from the competition. Call this the Saks strategy.

Because you face amateur investigators on your playing field, the price strategy is not an option. The lowest price position is occupied by investigators who go out of business because they don’t know their true costs. Your business must take the second road, making your service different, communicating your “specialness” clearly, and attracting clients who value what you offer.

When investigators hear they must mark up job costs 50% to 75% to make a 5% to 10% percent profit, they picture selling their present services to their present clients with their current packaging. Wrong. Your marketing will stress benefits, not price. Research the top three benefits your clients want, develop them, and plaster them across your marketing.

Review the services you offer. Are they exactly what your competitor’s offer? If so, why should the client come to you?

Let’s talk about packaging. Packaging may sound frivolous, but the harsh fact is that your success or failure in business rests on whether you can sell your services at a higher price than the other 95% of the investigators. And that rests on how you communicate your special value to your special audience.

Look at the Saks Fifth Avenues of this world. They make no attempt to appear cheap. Rather, they communicate their value in every way. You must do the same. Your logo, your letterhead, your office, every aspect of your marketing needs to communicate the design, the care, the quality you develop into every investigation and assignment. Even the clothes you and your personnel wear communicate to ever watchful prospects the character and distinctiveness of you and your business.

Your prospects judge how your phone is answered, how quickly messages are returned, how organized your investigative process is. The beauty of your profile brochure and the types of investigations completed justify your higher prices. Your office must project value, style and quality. These are only a few of the details that you must examine and monitor.

Quality packaging of yourself and your services costs money. But you’ll be spending more money to make more money.

ROGER P. GIBSON, Inc was established in 1977. Roger’s firm provides consulting services for this industry as well as personal impact seminars for private investigators. Roger has written numerous articles about the industry and has served as a technical consultant on many T.V. and film productions.

Tags: marketing, professionalism