The value pricing process

value pricing Aug 15, 2016

The 3-step value pricing process
 
Value pricing for any accounting, tax or bookkeeping service is easy if you follow my structured step-by-step process.

“So, what do I need to do?” I hear you cry.

 It’s easy.

The 3 step process

Step 1 - Create value

Value pricing doesn’t work if you don’t actually create any value. You want to create the best value for your potential client as you can.

So this is the first step. Look at your solution – whether it’s bookkeeping, annual accounts, payroll or cash flow forecasting. Think about how you can create as much possible value as you can.

Think about the different packages and what you can add in to make a real difference to the lives of your clients.

Step 2 – Communicate that value

Next comes actually sharing that good news. Communicating the value. 

The best way of building up your value proposition is through a conversation with the client. Ideally this should be face to face but an online meeting works too.

Having the conversation builds up the value.

And support that conversation with the creation of a professional looking brochure. It helps convince them of your value and your worth.

Packaged nicely the client’s perception of the quality of your work goes up. They will expect to need to pay a higher price to have you work for them. You look like a specialist.

It also becomes your system – your agenda and your aide memoire as you go through with the client the services you offer.

It helps build credibility.

It helps build value.

Step 3 – Agree on the price

Having gone through the previous two steps and proven your value the client will, hopefully, be ready to sign. In fact, when you have a great system for building up the value they are desperate to.

Now it’s time to agree the price.

But you have to involve the client in the pricing process. When you involve them, when they get the chance to choose exactly what they want – from the elements, service and price – something magical happens.

You get more yeses.

More conversions.

And higher prices.

Using software helps you do that. It helps you give a value-based price despite the fact that everyone values things differently.

That’s the value pricing process.

Check out the video for the 3 step process to value pricing

You can watch the video here.

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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