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Pricing Psychology and Proven Strategies for Accountants

mark wickershamon the BD Academy top 100 club accounting podcast with Rob Brown

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