Why Your Niche Strategy Will Flop
The one mistake too many CPA firms are making.
Michelle Golden, marketing consultant and author of the new and essential “Social Media Strategies for Professionals and Their Firms,” explains the one simple mistake that many firms make when entering a niche or building out a specialty practice. They are leaving loads of money on the table, she says.
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http://www.IAWAB.com
Totally agree!
What’s the point of becoming an expert in your niche and not charge as expert?
@SandraBaptist (on Twitter)
http://www.DanielStoica.com
Let the price reflect the level and type of specialization!
Love it!
Thank You Michelle!
http://www.ingenuitymarketing.com
Go Michelle! That little bit of insight is worth a lot!
http://WWW.cpanetwork.org
The reason firms fail to increas prices is that most CPAs are not trained HOW to present the VALUE they can deliver to clients so the client is happy to pay extra. Perception is reality. Clients do not change their perceptions of a CPA relationship just because a firm has niche knowledge and experience unless the firm connects how their knowledge and experience can impact the only two things that clients care about – their income and their quality of life.
Instead of “selling services” which most clients don’t understand and are incapable, for the most part, in translating how those services are well worth a greater investment (not fee) they will resist fee increases. IF however, the firm quantifies the BENEFITS to the client and the client WANTS those benefits, we find they are happy to pay anywhere froma 20% to 50% increase over compliance fees.