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Accounting Influencers - Rob Brown EPISODE 3
Pricing Psychology and Proven Strategies for Accountants
00:00:00 00:30:48

Pricing Psychology and Proven Strategies for Accountants

mark wickersham on the BD Academy top 100 club accounting podcast with Rob BrownMark Wickersham

Mark Wickersham is a qualified chartered accountant, public speaker and Group Chief Executive of the accounting network AVN. He’s the most in-demand profit improvement expert in the accounting community globally.

Mark is also a widely published author on practice issues. His YouTube Channel features a ton of videos on pricing and profit for accountants.In May 2011 his first book, Effective Pricing for Accountants was a number 1 Amazon bestseller.

Outside work, he’s into cycling and playing my guitar. His passion and deep knowledge about pricing in particular is what comes out in this interview. Here’s a flavour of what you’re in for:

  • A sobering story of an accountant who didn’t know how to price
  • Why it doesn’t matter how big or small an accounting firm it – they’re all clueless about pricing
  • The obsession with the billable hour, and how time tracking technology doesn’t help
  • “Cloud technology is automating compliance work so it will eventually disappear”
  • “As long as firms cling to the billable hour, there will be increasing downward pressure on fees”
  • Behavioural economics is the foundation of pricing methodology
  • How it’s the technology and software companies driving the pricing discussion
  • Why value pricing is NOT fixed pricing
  • “When accountants get past the adding up, that’s when they can start adding value for clients”
  • The two biggest reasons firms don’t deliver real value for their clients
  • The two main ways to price – cost plus pricing and value pricing
  • Value pricing starts by having a conversation with the client
  • The three reasons why value pricing is so difficult and hence avoided by accountants
  • Great example conversations an accountant can have in the value pricing conversation
  • The buyer’s reservation price – the highest price they are willing to pay. You can’t ask for this!
  • Why people won’t appreciate your price unless they understand your value
  • 3 value add statements for communicating to clients the benefit of reconciling bank accounts
  • Why fixed pricing is not value pricing and why a single fixed price is usually wrong
  • The power of choices and menu options to give you the opportunity to earn higher fees
  • Why too many options can confuse buyers
  • Critical: pricing is a face to face activity so you can guide them through the process
  • The powerful psychology behind why apple can make you pay £2000 for an £800 computer
  • Why upselling is a form of discrimination (hint: it’s where most of your profit comes from)
  • What accountants can learn from car dealerships
  • The single biggest myth that holds most accountants back with pricing
  • Truth: there are no price sensitive clients for accountants
  • Why price is not as important as profit on the deal
  • The three reasons why people say something is ‘too expensive’
  • Why winning more work is not the answer, but pricing better is
  • Why anyone that owns an Apple product is not price sensitive

…and much much more, all packed into 30 mins!

Contact Mark here:

Twitter: @wickersonabike

Email: Liked your Top 100 Club Podcast Interview with Rob Brown" target="_blank">email Mark directly

Website: https://www.wickersham.co.uk