I get questions all the time about value based pricing over at our business coaching program for WordPress consultants.
One question I recently received was about quantifying value if a website was not set up for attracting customers. It was a good question so I thought I'd post the answer here.
Value based pricing works with anyone who has a problem they need solving. In my experience most accountants are a little embarrassed by their website and they know deep down it is hurting their ability to attract good staff. I also know a lot of accounting firms that don't want new clients as such, they want better quality clients than the ones they've already got and great team members to help them deliver the work.
There are many problems that a good website can solve and the discovery process should uncover what is most important to the client. Only then can you collaborate with the client to put a value on that.
What is it worth to have a website you are proud of when handing out business cards and a networking event or a conference? What is it worth to have a high achieving graduate join your firm and stay for 5+ years? What is it worth to have a website that attracts one perfect client every three months allowing you to part ways with two or three non-perfect clients?
If you can't determine the value of your new website then you haven't asked the right questions.
Here is my simple strategy for beginning a conversation to determine value:
- ask why a new website is required
- do not accept the first reason as the truth, ask why else?
- when you have run out of reasons and cannot ask why else any more, identify the most important reason given and ask why it is the most important reason
- do not accept the first explanation as the truth, ask why else?
- rinse and repeat
I call this the “Go Wide, Go Deep” method and must give credit to Toby Travanner for teaching it to me.
I hope this helps you get closer to the truth.
Tell me I'm crazy in the comments.
Damn Troy this is so awesome! Thanks for clearing this right up! Just like your initial meeting checklist “Go Wide, Go Deep”!
I was struggling to get my head around this value based pricing with niches like accountants, but you’ve logically made your point so I am happy duck! Legend! Thanks again!
Thanks for the kind words Dainis. Glad you found this helpful.
You Crazy!
Ok, not really.
The G0-Deep-Go-Wide method is something I struggled with at first. Still am I guess but I’m getting there.
You start asking that second “why” and they start looking at you like you are a complete knucklehead. Like you’re the one that doesn’t “get it”.
Then they get it. Usually.
I’ve come to realize that the ones that don’t understand why I’m asking “why” and “why else” over and over – don’t understand why they need a well designed and well thought out website in the first place.
And I need to get better about understanding that THEY are not my client.
Great post Troy. Asking these questions and going deep benefits the client a lot more and I’ve found it usually brings to the surface a lot of additional opportunities they hadn’t considered to help them get the best results.
I like asking clients what success would look like for them in 12 months, this usually helps them skip straight to the key results they are looking for
Top post Troy. I too am still struggling with the GWGD method but as Pete said above, once we can make the shift in our heads that perhaps THEY may not be the client for US, things start fall into place. Great advice!