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Trent Mclaren, Intuit Australia
Pricing in the digital age
WiFi: QB Connect Password: Connect2017#QBConnect
Take a few moments
to Connect with
your neighbour
3
Trent Mclaren
Senior Business Development Manager
@Trent_mclaren
Today’s speaker
Why transform your pricing strategy
The issue with time based billing
How do other industries value price?
Next steps – Ho...
Why transform your pricing?
6
Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, Rates & Pricing Outlook 2017
Impacts on th...
7
What will have the largest impact on the
accounting profession?
Between 2014 – 2016, results suggest client fee and
regu...
8
The challenges all firms are facing
Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, Rates ...
9
What are we charging per hour on average?
Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, ...
10
Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, Rates & Pricing Outlook 2017
The issue with time based billing
12
13
Finally lawyers who get it
We do not charge by the hour. We do not charge you
when you pick up the phone or send you an em...
How do other industries
value price?
16
17
Where do you start?
The act of modifying something, such as
a concept or a tool internal to an
organization, to make it suitable as a
commerci...
Start by picking the one service that is a
combination of most in demand by
clients (their biggest problem) most
profitabl...
21
When researching companies that sell services like a
product, I’ve found there are 3 basic methods:
Foot-in-the-door of...
22
Break your services into product packages
Base this on the scope of work you do for them
23
24
Next steps…
Let’s implement value pricing
The fundamental aspect of value pricing is that it’s
based on value. This means it’s imperative for
anybody wanting to val...
27
Price sensitivity is A myth
Your clients are value sensitive
Step 1.
Review your revenue streams
What did we learn?
Are you making enough money?
What is your most common service?
What’s your average fee per client?
What...
Step 2.
Move your most suitable clients to fixed
fee or value pricing agreements
32
Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, Rates & Pricing Outlook 2017
The people you do business with, most
are going to be your best fit clients for
monthly / fixed value packages
Value Pricing is determined by the fixed
scope of work agreed upon by both
parties.
You need to be very specific about wha...
35
Step 3.
Identify and create your pricing strategy
Decide upon what is your ideal pricing
plan. Go ahead and create your packages,
ensuring that your ideal plan looks more
v...
38
Step 4.
Practice, practice, practice……
Much can often be learned by
the repetition under different
conditions, even if the
desired result is not obtained.
– Arch...
Step 5.
Never give up
Questions?
Trent Mclaren
Senior Business Development Manager
@Trent_mclaren
Thank You
Missed something?
Today’s presentations are available in the event mobile app
and at http://www.slideshare.com/tag/QBCAU17...
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Pricing in the Digital Age

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The digital age requires you to evolve the tools and technologies you use. With this evolution, the old pricing methods don’t work anymore.

In this research-based session, Trent McLaren will share key pricing strategies designed to ensure you thrive in the digital age.

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Pricing in the Digital Age

  1. 1. Trent Mclaren, Intuit Australia Pricing in the digital age WiFi: QB Connect Password: Connect2017#QBConnect
  2. 2. Take a few moments to Connect with your neighbour
  3. 3. 3 Trent Mclaren Senior Business Development Manager @Trent_mclaren Today’s speaker
  4. 4. Why transform your pricing strategy The issue with time based billing How do other industries value price? Next steps – How do you implement value pricing? Agenda
  5. 5. Why transform your pricing?
  6. 6. 6 Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, Rates & Pricing Outlook 2017 Impacts on the accounting profession
  7. 7. 7 What will have the largest impact on the accounting profession? Between 2014 – 2016, results suggest client fee and regulatory changes are having an increased impact on the profession. The results indicate Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, Rates & Pricing Outlook 2017
  8. 8. 8 The challenges all firms are facing Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, Rates & Pricing Outlook 2017
  9. 9. 9 What are we charging per hour on average? Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, Rates & Pricing Outlook 2017
  10. 10. 10 Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, Rates & Pricing Outlook 2017
  11. 11. The issue with time based billing
  12. 12. 12
  13. 13. 13
  14. 14. Finally lawyers who get it We do not charge by the hour. We do not charge you when you pick up the phone or send you an email. We do not charge you for taking you to lunch or travel time or any of that kind of stuff this is disconnected from the real value of what we do. We invest in long term relationships with our clients, and we measure the value of our services in the same way that you do. We have a lot to offer, and we provide it in the a way that doesn’t hurt. That’s a small part of the Marque difference.
  15. 15. How do other industries value price?
  16. 16. 16
  17. 17. 17
  18. 18. Where do you start?
  19. 19. The act of modifying something, such as a concept or a tool internal to an organization, to make it suitable as a commercial product. Productize your services
  20. 20. Start by picking the one service that is a combination of most in demand by clients (their biggest problem) most profitable for you and the easiest to deliver. This will have the best chance of the overused phrase product/market fit and you will likely need to iterate your products and packages several times with each potential customer interaction. – Richard Patey, Founder: Profit Is Good
  21. 21. 21 When researching companies that sell services like a product, I’ve found there are 3 basic methods: Foot-in-the-door offer (e-book, courses) One-time product / adhoc work Monthly subscription / Fixed agreement Different ways to productize your services
  22. 22. 22 Break your services into product packages Base this on the scope of work you do for them
  23. 23. 23
  24. 24. 24
  25. 25. Next steps… Let’s implement value pricing
  26. 26. The fundamental aspect of value pricing is that it’s based on value. This means it’s imperative for anybody wanting to value price, must start with a value conversation. If there is no attempt (or little attempt) at a value conversation then you are not value pricing but rather just increasing prices. Andrew Robertson – Decision HQ
  27. 27. 27
  28. 28. Price sensitivity is A myth Your clients are value sensitive
  29. 29. Step 1. Review your revenue streams
  30. 30. What did we learn? Are you making enough money? What is your most common service? What’s your average fee per client? What could be bundled together? Bundle all of this information together
  31. 31. Step 2. Move your most suitable clients to fixed fee or value pricing agreements
  32. 32. 32 Source: The Good, the Bad & the Ugly of the Australian Accounting Profession, Rates & Pricing Outlook 2017
  33. 33. The people you do business with, most are going to be your best fit clients for monthly / fixed value packages
  34. 34. Value Pricing is determined by the fixed scope of work agreed upon by both parties. You need to be very specific about what that scope is and anything outside of that scope would fall under another priced agreement.
  35. 35. 35
  36. 36. Step 3. Identify and create your pricing strategy
  37. 37. Decide upon what is your ideal pricing plan. Go ahead and create your packages, ensuring that your ideal plan looks more valuable then the lesser plans.
  38. 38. 38
  39. 39. Step 4. Practice, practice, practice……
  40. 40. Much can often be learned by the repetition under different conditions, even if the desired result is not obtained. – Archer John Porter Martin 1952 Nobel Prize Winner: Chemistry
  41. 41. Step 5. Never give up
  42. 42. Questions?
  43. 43. Trent Mclaren Senior Business Development Manager @Trent_mclaren Thank You
  44. 44. Missed something? Today’s presentations are available in the event mobile app and at http://www.slideshare.com/tag/QBCAU17 Don’t forget to rate my session: Open up the event app, find my session title in the agenda and click on rate & review

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