Pricing in the digital age
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Mark Wickersham is an expert on profit improvement for accounting firms. The document discusses pricing strategies for accounting firms. It suggests that firms should stop undervaluing their services and charging too little. It also discusses the concept of value pricing, where different customers are willing to pay different prices. Finally, it discusses pricing psychology and strategies like anchoring prices on left digits, not revealing headline prices, and using installment payments to increase conversions and revenue.
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Pricing in the digital age
- 1. Mark Wickersham FCA The most sought after profit improvement expert in the accounting community Pricing in the digital age: How to implement a pricing structure so your firm thrives WiFi: QBConnect No password required#QBConnect
- 2. Take a few moments to Connect with your neighbour
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- 7. 7 Accounting professionals must stop undervaluing themselves and charging too little @wickersonabike #QBConnect Tweet able quote:
- 8. 8 Firm A Charge £400 per hour for partner time and £200 for associate time Firm B Fixed price of £4,000 Which of these 2 firms of lawyers would you appoint?
- 9. 9 The most fundamental concept in value pricing is different customers are willing to pay different prices @wickersonabike #QBConnect Tweet able quote:
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- 12. Price psychology #8: Left digit management
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- 15. 15 Source: Gumroad “…while evaluating “2.99,” the magnitude encoding process starts as soon as our eyes encounter the digit “2.” Consequently, the encoded magnitude of $2.99 gets anchored on the leftmost digit (i.e., $2) and becomes significantly lower than the encoded magnitude of $3.00” – Manoj Thomas and Vicki Morwitz, 2005 Penny wise and pound foolish: the left-digit effect in price cognition
- 16. Price psychology #21: Don’t reveal the headline price
- 17. 17 5 easy payments of
- 18. 18 Ryan Deiss Conversions Revenue $197 340 $66,980 Conversions Revenue $197 340 $66,980 2 x $97 977 $189,538
- 19. 19 Conversions Revenue $197 340 $66,980 2 x $97 977 $189,538 3 x $97 1008 $293,328 People focus on the $97 not the $291
- 20. 20 Firm A Charge £400 per hour for partner time and £200 for associate time Firm B Fixed price of £4,000 Which of these 3 firms of lawyers would you appoint? Firm C Fixed price of £6,000 No-win no-fee arrangement
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- 23. Questions?
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- 34. Access the presentation materials via: The QuickBooks Connect 2017 Conference App or Slideshare at: http://www.slideshare.com/tag/QBCUK17
Editor's Notes
- This is a sample INTRODUCTION using the 1-Column layout. Placeholder text boxes that appear as part of the selected layout have predefined fonts, sizes and colors. To change the appearance of any line of text, on the Home tab, in the Paragraph group, click Increase Indent or Decrease Indent. The selected text will reformat to the predefined size according to its indent level. Note: Any changes to the color, size, spacing or font in the placeholder text box will break its connection to the Master style. It will no longer automatically conform when switching between layouts or when imported into another presentation.
- This is a sample INTRODUCTION using the 1-Column layout. Placeholder text boxes that appear as part of the selected layout have predefined fonts, sizes and colors. To change the appearance of any line of text, on the Home tab, in the Paragraph group, click Increase Indent or Decrease Indent. The selected text will reformat to the predefined size according to its indent level. Note: Any changes to the color, size, spacing or font in the placeholder text box will break its connection to the Master style. It will no longer automatically conform when switching between layouts or when imported into another presentation.
- This is a sample INTRODUCTION using the 1-Column layout. Placeholder text boxes that appear as part of the selected layout have predefined fonts, sizes and colors. To change the appearance of any line of text, on the Home tab, in the Paragraph group, click Increase Indent or Decrease Indent. The selected text will reformat to the predefined size according to its indent level. Note: Any changes to the color, size, spacing or font in the placeholder text box will break its connection to the Master style. It will no longer automatically conform when switching between layouts or when imported into another presentation.
- This is a sample INTRODUCTION using the 1-Column layout. Placeholder text boxes that appear as part of the selected layout have predefined fonts, sizes and colors. To change the appearance of any line of text, on the Home tab, in the Paragraph group, click Increase Indent or Decrease Indent. The selected text will reformat to the predefined size according to its indent level. Note: Any changes to the color, size, spacing or font in the placeholder text box will break its connection to the Master style. It will no longer automatically conform when switching between layouts or when imported into another presentation.
- This is a sample INTRODUCTION using the 1-Column layout. Placeholder text boxes that appear as part of the selected layout have predefined fonts, sizes and colors. To change the appearance of any line of text, on the Home tab, in the Paragraph group, click Increase Indent or Decrease Indent. The selected text will reformat to the predefined size according to its indent level. Note: Any changes to the color, size, spacing or font in the placeholder text box will break its connection to the Master style. It will no longer automatically conform when switching between layouts or when imported into another presentation.
- This is a sample INTRODUCTION using the 1-Column layout. Placeholder text boxes that appear as part of the selected layout have predefined fonts, sizes and colors. To change the appearance of any line of text, on the Home tab, in the Paragraph group, click Increase Indent or Decrease Indent. The selected text will reformat to the predefined size according to its indent level. Note: Any changes to the color, size, spacing or font in the placeholder text box will break its connection to the Master style. It will no longer automatically conform when switching between layouts or when imported into another presentation.