Should I Discount If My Price Is Too High?

Sometimes we use discounts to try and win new clients – this is a terrible idea.

We allow ourselves to lower our prices by telling ourselves that we will make up for it in the future - that we will raise the prices next year and start making a profit.

Then we never do it.

The first price you give creates an expectation with the client. If you start off cheap, they are always going to expect you to be cheap, and you’ll find it much harder to raise your prices once this expectation has been created.

You can watch the video here.

 

The Golden Rule: Never Discount

 You should not give out discounts to win clients.

Maintain the integrity of your pricing structure. Be confident about the value you deliver to your clients. Do not discount.

The most successful businesses don’t give discounts. Think about it – when was the last time Apple ran a sale? When was the last time Starbucks lowered their prices? When was the last time you walked past a Ferrari...

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Never Buy Software Until You've Answered This Question...

Software is becoming increasingly prevalent in the accounting profession.

There are tons of apps out there that can help make the lives of accountants and bookkeepers so much easier.

It can be overwhelming just how many different tools there are, and many accounting professionals worry about the ongoing costs of subscriptions. This is the excuse they use for not investing in any of these helpful tools.

As a profession we tend to be very focused on costs – but what we need to do is think more like entrepreneurs and consider the return on investment.

You can watch the video here.

The big question you need to ask when looking into software is: what are the benefits?

Ask yourself this question when researching your software tools and come up with a list. It may be that it:

  • Saves you time
  • Makes you more money
  • Helps you win clients
  • Makes your business run more smoothly


I had an email from someone recently questioning the subscription costs of my software Effective Pricing.

...

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Why Winning New Clients Might Not Be The Answer To Your Growth Problems

I recently got an email from one of the members of the Value Pricing Academy.

She’d just attended one of my live webinars where I was sharing my own story about how, when I started my accounting firm back in 1996, I grew from 0 to over 200 clients in just a few years.

Here’s what she said in her email…

“Hi Mark,

Today’s session was again full of great content.

Mark, you mentioned 4 prospects a week.  Where I am located, I’d love to have 4 prospects EVERY month. Some months we get 4, then we go 2 or 3 months without any.

I am currently reluctant to do much marketing because of staffing issues. My fear is getting too much work and not being able to handle it all…”

I know exactly where she is coming from.

I made the mistake myself in my firm of becoming obsessed with winning clients. I thought that having a successful practice was measured by growth and being as big a firm as possible.

These thoughts are common because of the...

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Your first webinar

business growth marketing Sep 26, 2016

How webinars can increase engagement – and conversion rates

Have you ever run a webinar? If you haven't, then it's time you did because they’re incredibly powerful. And, to help you get started, I’m going to share some key tips.

If you prefer to watch rather than read, you can watch my video here

 

 Live? Or pre-recorded?

The first big question to think about is whether you should run webinars live or pre-recorded.

Some great software exists that allows you to create webinars as videos and then run them on any schedule you like. Once a week, for example. People log in to watch the webinar, and it feels live. As a concept it has a lot of appeal. However, one problem I’ve found – and other people’s research bears this out – is that even though pre-recorded webinars may feel live, conversion rates are significantly lower.

Tip #1: Run them live

My first tip then is to run them live. That way, you can give whatever offer...

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