The 3 reasons you should have a brochure

value pricing Aug 29, 2016

A glossy brochure doesn’t only grab people’s attention. It also increases what they’re willing to pay.

In this post I want to share three reasons why you need to have a professional-looking brochure for all your accounting, bookkeeping and tax services.

# 1: The Power of Context

The Power of context is part of price psychology. What it means is that the context in which we deliver our solution influences people's expectation of what it will cost.

Back in 1983, one of the world's leading behavioural economists, Richard Thaler, carried out an experiment to prove this. He asked a group of executives to imagine they were lying on a beach on a hot day, and that a friend offered to get them a beer from the only place nearby – a small run-down grocery store. When he asked the most they’d be willing to pay, the average was $1.50. But, when he asked another group, changing the grocery store to the bar of a smart hotel, the average increased to $2.65.

What this shows is that the amount people are willing to pay for a product changes according to the context in which it’s delivered. And what this means for us is that if we package our solutions professionally – through a brochure – then customers not only expect, but are willing to pay, higher prices.

# 2: Packaging

Packaging is one of the four P's of marketing. If you've ever bought a product from Apple, you’ll know their packaging is exquisite. That's because Apple understand that packaging things in a beautiful way influences people’s perception of quality. And people expect higher quality to have a higher price.

So, if you package your solution with a beautiful, professional brochure, people will happily pay a higher price.

# 3: System

A brochure offers a system. When you discuss price with a client, organising a face-to-face meeting – or a meeting online using a webcam and screen share – is absolutely essential. Otherwise you can’t understand your client’s values, such as:

·       What are their pain points?
·       What are their goals and expectations?
·       What do they want – and need?

 Until you know the answers to these questions, you can’t possibly understand a client’s values – or finalise a price based on them.

 

 

You can find out more when you watch the video here

Building value

A brochure allows you to keep on track. It becomes your system, your aide-mémoire. As you work through your brochure with a client, it’ll help you to build – and build and build – value. You’ll know exactly what to say and, by the end of the process, what the client wants from you. All you've got to decide then is the price.

Every month I provide free online training helping accounting professionals get results from value pricing. If you want to get access to that free training click here to register your place on the list of people I invite.

Wishing you every success on your pricing journey.

Mark Wickersham
Chartered Accountant, public speaker and #1 best-selling author of
Effective Pricing for Accountants

 

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