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Mark Wickersham (UK):
The Value Pricing System
In this post I want to share why it’s #3 Hourly rates seem more expensive
An hourly rate will always seem
expensive. Why? Well, it goes back to price psychology. One of the things
price psychology has taught us is just how clueless we all are about price. We don’t know the price of anything. So, what we do when we see a price is we make comparisons. We contrast it with something else.
Let’s say you do
bookkeeping work and charge $35 an hour. When you reveal $35 as your hourly rate, your prospective client will probably think, “I can employ someone else for $15 or $20.” It isn’t a relevant comparison, but they’ll
still make it and it means they’ll see your price as too high. Avoid hourly rates and you’ll avoid
price resistance, too And that’s why, when we price based on
the hour, we always find price resistance. People think we’re too expensive.
So please, please don’t
quote an hourly rate if you don’t want people to push back. (More of Mark!) Better pricing = higher profits
If you have a service business, you can
earn much more from this series. Also, Mark runs a programme called
Price Consulting, and he teaches
accountants/bookkeepers how to help their customers with their pricing. Thank you for the positive response to
posts on this topic and the action taken. Please tell your friends!
Those links again:
The Value Pricing System
Effective Pricing for Accountants (book)
The Power of Price Psychology
Monthly Mentoring
The complete guide to menu pricing – NEW!
(video training programme) How to build a successful bookkeeping
business (book) How to build a successful bookkeeping
business (video training programme) Grab them NOW and claim the true income
that you earn!
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