Every client is different. They all want different things, they value different things, and they are willing to pay you different prices.
You need to make sure you always give your clients choices - customers love choices.
You can watch the video I did on this here.
I recently bought a new car...
...it’s a Jaguar XF. I find the whole car buying process fascinating. It’s a big, important purchase. When I went onto the website to do my research I notice they gave me lots of choices.
They had three different model of the Jaguar XF. There was the Prestige which is the cheapest option. Then the R-Sport was designed for people who were more interested in the sporty extras. And finally, the Portfolio was the luxury model, it was the premium version. This one was aimed at people who wanted the highest quality and luxury.
That’s the first choice they give you. The three packages. I call this Menu Pricing. Creating a bronze, silver and gold option.
They gave me so many options...
But it doesn’t end there. They then take you through a series of questions about your preferences: the paint colour, the type of wheels, tinted windows, or fancy panoramic glass roofs and so on. Then they ask about the interior: the pattern of the seats, the colour of the leather, an enhanced stereo system with greater surround sound and much more.
There are tons of options to choose from. Then finally when you have chosen your perfect package, they offer you added extras. Do you want a bike rack on the roof? Do you want mats to protect the boot? Do you want a coat hanger in the back of the seats?
Some people value those things - I cycle so the bike rack was perfect for me.
Customers love having choice...
Customers love choice because it allows them to create the perfect purchase that is exactly right for them. If you only ever give one choice, then they can only buy that one thing from you.
Now, you may wonder if there is a point where the options become too much and you end up overwhelming your client.
The reason this whole process works for the car industry is because it is a very big important purchasing decision. You spend a lot longer on the prices to make sure you get it right.
It’s the same with buying a house. You aren’t going to skip through all the questions - you will take you time to make sure you are getting exactly what you want.
If what you are selling is less than $100, then asking all these questions is probably just going to annoy the client. But, when someone is buying from you its a big purchase. You are going to be dealing with their financial affairs for many years - they are buying a relationship, its a big purchase decision.
When you meet with someone face-to-face you have the opportunity to go through this whole questioning process with them and control the process.
You need to be offering your clients choices because when they are buying from you, it is a big purchase decision.
If you want to learn more from me, I run a free online monthly training session with a different topic every month. You can attend and ask me questions which I will answer live. Click here to register and I will send you an invitation to the next session.
And if you would like to join a community of like-minded accounting professionals learning to price more effectively and confidently, you can join my Facebook Support Group here.
Wishing you every success on your pricing journey.
Chartered Accountant, Public Speaker and Author of Amazon #1 Best Seller of “Effective Pricing for Accountants”
Your Pricing Journey gives you access to my pricing training delivered every month in easy to digest, and easy to implement, steps.
So if you sometimes find yourself working too hard, for too little money, this programme will solve that problem.