Weekly Prosperity Quote

Abundance is not something we acquire. It is something we tune into.  ~Dr. Wayne Dyer~

Perception – The Golden Rule of Pricing

Our clients want the best value for their money. Don’t you?!

Whenever we are making a decision to purchase a product or service, we’ll most likely take a look around and compare what we are receiving (quality, benefits and results) to what is being offered for that price point.  We then make our decision to buy based on what we perceive to be the best price for the best value being offered from that comparison.

It should come as no surprise that many business owners have an ongoing struggle with attaching a fair and accurate price to the products and services they offer.

When setting prices for your products and services, remember this golden rule:

perception is everything!

Do you know how your customers view your product or service and what they are willing to pay for it is based upon those perceptions?

Pricing is all about knowing your customers — what they want, what motivates their purchases, and how they feel about the products, services and features they are purchasing. 

To help you determine how your products and services are being perceived by your current client base ask them the questions below.  The answers you receive may surprise you and have you reevaluating your current pricing strategy.

1. How do your customers perceive your product and/or service in terms of value?

2. Do they feel the value being delivered is in alignment with the price they are paying?

3. What benefits do your customers get from your product or service?

4. Are your prices consistent with those benefits?

5. What is the current supply-and-demand of your product or service?

6. Does your product have a recognizable name that allows you the luxury of overpricing?

7. How does your price compare with your competitors’ pricing?
Your products and services will be perceived as high-, moderate-, or low-priced, usually compared to your competition or to your customer’s own notion about what “something like that should cost.”

There is no danger in having the price of your products perceived in any of these ways. It all depends on how you are perceived by your target market.

You want your pricing strategy to be in alignment with the perception of your target market.  For example, being known as “moderate-priced medical-care insurance provider” might make some customers nervous and think they are getting cut-rate medical service. The point is to match the perception of your price to the perceptions of your customers.

Weekly Prosperity Quote

Be happy.  It’s one way of being wise.

 ~Sidone Gabrielle~

Weekly Prosperity Quote

When you are grateful fear disappears and abundance appears”

~Anthony Robbins~

“5 Steps to Create a Client Planning System that will let you Manage Your Clients on Autopilot”

If you want to eliminate the peaks and valleys in your workload and always know what’s coming up with your clients so that you can plan your time and not have to work unexpected (and long) overtime, then PAY ATTENTION! This article is for you!

Believe it or not, even during busy season, it’s really a rarity that we work overtime. We typically don’t work overtime. If we have to work a Saturday, that’s very rare. The systems we use help us even out the work.

What’s the SECRET?

Client Planning Systems.

Look, I’m just like you…I’ve worked the long hours, the overtime, the Saturdays…I’ve caught things “in the nick of time”…I was starting to HATE my new business.

Implementing this system made work a pleasure once again and gave me the freedom to run the business the way I wanted to run it…rather than having it run me.

What the Client Planning System will do for you and your business…

The Client Planning System allows you to be systematized and structured, and it simplifies things. It will take you out of the details of the work and have you looking at the big picture for your client. 

The other thing it will do is make you a valuable resource to your client. You’re going to be reminding them of things you don’t necessarily do for them. It looks like you are looking out for their best interest, which in fact you are. That goes a long way in a client relationship.

For example, we don’t do property tax returns for any of our clients. It’s something I chose to not get involved with when I started my firm. Property tax returns for Connecticut towns are due November 1.

In September, we remind the client. We ask if they want us to coordinate with their CPA or whoever is going to be doing it. We’re letting the client know this is due. We’re looking out for their best interest. That goes a long way in a client relationship.

I usually do a lot of Client Planning during the 4th Quarter and then update it quarterly. (Actually, I don’t do it myself…I delegate that task. When you have systems in place, you can delegate with confidence and receive excellent results.)

Here is the step-by-step to creating your very own Client Planning System:

STEP 1: Get all important tax compliance dates from the federal and state governments.

STEP 2: Collect a list of Federal holidays – you need to know when banks are closed.

STEP 3: Create profile for each client and update every quarter. (Set aside time to do this. Calendar it or designate a staff member to do this.)

NOTE: This is the most extensive and involved part of the Client Planning System. There are about 15 items. Once created, it is an IMMENSE timesaver and value provider!

STEP 4: Determine day or days to do client processing.

STEP 5: Create Client Calendars – processing, monthly, quarterly, annual and payroll.

Client Planning Systems give you peace of mind, more time – and definitely more freedom. This is what saved me from closing my doors for good…it allowed me to go from “Fed Up” to “Freedom”. It can do the same for you!

Weekly Prosperity Quote

Whatever we are waiting for – peace of mind, contentment, grace, the inner awareness of simple abundance – it will surely come to us, but only when we are ready to receive it with an open and grateful heart.”
- Sarah Ban Breathnach

Weekly Prosperity Quote

The most complex situations get solved with the simplest solutions.