One of the most challenging aspects of running your firm is raising prices for your long-time and loyal clients. In this episode, I shared the reasons why it’s reasonable to offer updated pricing and ways on how you should do it.
0:39 You’ve had a long-term client, and despite knowing you’re undercharging, you’ve hesitated to raise prices due to loyalty and uncertainty about how to do it.
1:41 If you have many leads in your pipeline, the first method works well: send a general email raising prices for those you charge too little.
2:35 Second option, you can meet your client to grasp their business direction and to identify accounting challenges or overall business pains they’re experiencing.
3:05 Inform the client about your ideas and present three options for them to review – Gold, Silver, and Bronze packages.
3:33 I would also recommend incorporating a specified level of support in this package, and here we’ll streamline things.
3:59 Offer extra services for gold and silver packages, with top-tier support. Gold may include unlimited calls and emails, while silver offers unlimited emails.
4:24 Presenting the 3 options will offer your client choices and reveal what’s achievable. However, anticipate potential resistance, as the prices are expected to be considerably higher.
Thank you Ryan. This episode is helpful.