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CLIENT ACCOUNTING SERVICES

How Small Firms Can Use Value Pricing

Two businesswomen meeting in an officeStep 1: Know what your customer values.

By Michelle Long and Sandi Leyva
The Ultimate Accounting Virtual Conference

Value pricing is commonly used with consultants in large firms, but how do we apply it to the very small firms?

What is value pricing? It’s a special type of pricing method that is highly misunderstood in this industry. A lot of people, when they go up on their price, they call it value pricing and that’s not correct. Value pricing has nothing to do with cost, it has nothing to do with time or market; it has to do with what the customer vales. That is the only input that goes into value pricing: what the customer values. There is no relation to cost.

MORE SMALL FIRM GROWTH STRATEGIES: 3 Ways to Raise Your Prices | Building Reputation to Build Your Business | 3 Killer Lead Generation Channels | Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

Value pricing is hard because you have to know what the customer values. You have to be really good at putting yourself in the client’s shoes in order to do value pricing. Now let me talk about different pricing methods briefly because I think that will help you a little bit.

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PRICING, FEES & BILLING RATES

Five Ways to Raise Your Prices

Money roll, calculator and magnifying glassHint: You don’t have to do it all at once.

By Michelle Long and Sandi Leyva

We know some of you might be afraid to raise prices, but there are some painless ways for both you and the client.

MORE SMALL FIRM GROWTH STRATEGIES: Building Reputation to Build Your Business | 3 Killer Lead Generation Channels | Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

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Here are five:

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GROWTH STRATEGIES

Building Reputation to Build Your Business

Leverage your knowledge.

By Michelle Long and Sandi Leyva
The Ultimate Accounting Virtual Conference

Marketing has changed in the last 30 years. One lead generation channel is reputation.

Buyers really value industry expertise. As a matter of fact, studies show we underestimate the buyer when it comes to valuing industry expertise. That means as accountants we need to promote our expertise more than what we’re doing. Building a reputation is part of that and you can do that a lot of different ways.

MORE SMALL FIRM GROWTH STRATEGIES: 3 Killer Lead Generation Channels | Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

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GROWTH STRATEGIES

3 Killer Lead Generation Channels

The real magic comes when you combine them.

By Michelle Long and Sandi Leyva

I want to share with you the highest ROI channels for lead generation. Let me define channel.

What I mean by channel is a marketing source. For example, your website is a channel or if you send a newsletter, that’s another channel. Referrals is a channel, Google search is another channel, search engine optimization is another channel and those are the different channels for lead generation.

MORE SMALL FIRM GROWTH STRATEGIES: Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

Some marketing channels are fabulous but they’re not good for lead generation. Social media is one example of that but there are many, many exceptions. A blog is probably another best example of a perfectly good marketing channel but very poor for lead generation, but again it varies.

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