Episode 19. In today's news episode, we discuss "What Works for Accountants on Handling Price Sensitivity." With ever more discerning buyers and knowledgeable purchasing, what hope for accountancy professionals who feel their prospects and clients are always looking for the best deal/lowest price?
Key takeaways from this episode include:
➩ the fallacy for accountants of thinking that deals and engagements frequently come down to price
➩ the implication for accounting professionals of price being the main differentiator between them and their competition
➩ what accountants have completely failed to do if a potential client is making their decision to hire based solely on price
➩ why the pricing conversation is relevant not just for new business opportunities but for existing clients and cross-selling services
➩ the one thing few accounting firms will ever admit when they bring on a new client, and why it's false
➩ what 'demonstrating expertise and value to a business' really looks like for an accountant, and what it most definitely isn't
➩ what most new clients are actually investing in when they hire a new accountant or engage an accountancy practice to help them
➩ how the prospect of a better future and a better now drives new clients to seek value and results over price
➩ why pricing education for accountants is not about turning them into sales people, although selling and persuading remains vital for accounting professionals
➩ what accounting practitioners can practically do to eradicate pricing sensitivity from their sales conversations
➩ how accountants and CPAs can make their proposition more compelling to their prospects and existing clients
➩ the importance of caring and curiosity for accountants and CPAs who want to succeed in practice
➩ why accounting practitioners must see pricing sensitivity as a symptom and not a cause, and what that difference is
➩ the role of storytelling, proof and the ability to paint the picture of a better future are all vital for accountants who want to win more business
NOTE TO LISTENERS:
The Accounting Influencers Podcast is a CPE-accredited daily radio-style show with four segments coming out every Monday which are repeated on the other 4 weekdays as standalone episodes, plus a bonus 'from the client's perspective' episode on Saturdays. On Sundays, listeners get a short min trailer for the coming week's episodes.
Every Tuesday the show gives you a relevant news topic from the accounting and fintech world with a direct application to accountants, CPAs and bookkeepers. Great to stay informed and build your commercial acumen.
Every Wednesday and Friday, we feature an uncut interview with top authors, leaders, thinkers and performers in the accounting and fintech world.
Every Thursday the show gives you a practical 'here's what works' tips concerning a key challenge, need or strategy for accountants, CPAs and bookkeepers. Great to stay current and keep your skills topped up.
Finally, every Saturday gives listeners a bonus episode which focuses on the buyers of accounting services - the clients themselves. In particular how they feel, react to and experience their interactions with accountants. That includes why they buy or don't buy, why they move or stay and why they think how they think about you, your firm, your prices and your offerings.
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