Pricing Psychology and Proven Strategies for Accountants - Accounting Influencers Podcast

Episode 3

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Published on:

3rd May 2018

Pricing Psychology and Proven Strategies for Accountants

Mark 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

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About the Podcast

Accounting Influencers Podcast
Host Rob Brown shows accounting professionals and leaders how to be more influential, grow their personal brand and be more authoritative, relevant and high profile in their roles..
The Accounting Influencers Podcast, hosted by Rob Brown, is a must-listen for accounting professionals looking to strengthen their leadership presence, stay informed on disruptive forces in accounting and build credibility within their firms. Geared toward firm leaders, managers, partners and influencers, the show covers key topics like career development, influence, personal branding and interpreting the evolving trends impacting the accounting world. Rob brings his expertise to each episode, offering insights and guidance on how to grow your personal brand and stay strategically important in a rapidly changing profession. Whether you're aiming to influence within your firm or expand your reputation outside of it, this international podcast offers practical advice and forward-thinking insights that will keep you informed and prepared for the future.
Accounting leadership
Executive presence for accountants
Building influence in accounting
Accounting industry trends
Personal branding for accountants
Accounting firm strategy
Accounting business models
Leadership in accounting firms
Talent management in accounting
Authority in accounting profession
Career development for accountants
Accounting firm growth strategies
Influencers in accounting
Accounting firm management
Disruptive forces in accounting
Accounting leadership strategies
Accounting career success
Accounting firm decision-makers
Accounting business trends
Building credibility in accounting

About your host

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Rob Brown

Rob Brown hosts the multiple accounting podcast and chair conferences, panels and events globally for the accounting and fintech profession. He is co-founder of Accounting Influencers Roundtable (AIR) which helps vendors, experts and influencers serve the accounting and finance world. He is a dynamic speaker and accomplished expert on trust, reputation, employer brand, talent, career development, succession, gen z/generations, employee advocacy and executive presence. Rob is author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 400,000 times on YouTube. He is a stroke survivor, has epilepsy, is a committed Christian and has a black belt in kickboxing. He is based in Nottingham UK, home of Robin Hood, plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.