By Rob Nixon
As you go through the journey of value belief and client value perception, you have to be conscious of price parity. If a client has been paying $5,000 for your service and even if you feel it is worth twice as much, the client may not pay much more for it – particularly if it looks like the same service. Your client might pay 15 percent or 20 percent more, but double? – give me a break. Unless you completely redesign your product offering so it looks completely different, your current client will have a hard time paying the price.
MORE ON STRATEGY: Are Your Prices Too Low? | 6 Steps of Moving to Value Pricing | Feel Good About Yourself | How to Build Enduring Relationships | They Should All Be ‘A Class’ Clients | Accountants Are the Last Trusted Advisors | How to Structure Your Firm for Success | Why Average Project Value Matters
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When it comes to new services that the client has never bought before – different story. There is no price parity with a new service that has not been purchased before – charge at will!
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