Adding Value to Conversation

Adding Value to Conversation

Give your clients peace of mind: Clients increasingly seem to care less about how much it costs you

Published By - WisdomPlexus

Give your clients peace of mind:

Clients increasingly seem to care less about how much it costs you to provide a service or what your competition is charging. Instead, they care about how much value they’re receiving at a particular price.

A scenario: negotiating lower tax penalties

Calling the tax office to negotiate lower penalties on tax arrears may only take 15 minutes of your time but could save your client thousands of dollars.

What does this Report Contain?

This report contains effective strategies going forwards with conversations for the growth of an accountant’s practice. Here are some of the glimpses from this report.

Prepare for success

Like anything else in business, the better prepared you are, the more successful the conversation. Having a transparent discussion ensures your client understands the concept and has all the information they need to come to a mutual decision about the value of your accounting services.

Do your homework

Heading into a conversation about value-based pricing without understanding their needs and expectations is a recipe for disaster. The more you know about your client, the better. A good way to establish the fundamentals of a good relationship is to meet and find out:

  • What additional services they require from you
  • What kind of working relationship they’re seeking (e.g. do they want basic accounting, or are they seeking advisory services as well?)
  • Whether they’re open to moving to a quoting arrangement before work commences (e.g. that successful call to the tax office could be quoted upfront as a $1,000 service fee rather than an hourly charge)

Show proof of concept

It’s a good idea to do some research so you can offer examples of how value-based pricing works; before you begin the discussion with your client. Without breaching confidentiality, show them how it’s worked for past clients.

Present a few options

With relevant examples in mind, offer your clients different options to choose from and help them better understand how the pricing structure works. For example:

  • You can base your fees on specific criteria, such as a 2-year contract
  • Quality-based services can be presented based on a silver, gold or platinum level
  • Clients can pay a monthly fee which covers everything they will need
  • You can quote for one-off tasks or a set fee

Key takeaways:

Get your employees on board:

It’s not just your clients you need to consider when implementing value-based pricing. It’s important to get your employees to buy into the new model as well, since they’ll be doing the work for the clients and adding value.

Making the shift to a value-based pricing model will benefit both you and your clients. It’s becoming the best and most effective way for you to improve profitability, and it also means the client pays based on the value of your expertise—not how long it takes you to perform those services.

Download this report to get insights to grow practice by understanding the key techniques to improve the value of conversation.

Since You Are here:

Insight and practical advice for today’s accountant based on the latest independent research

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