marketing & sales

the four types of competition and 6 ways to make your firm stand out

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first steps in developing a pricing strategy.businessman drawing one arrow longer than others

by august j. aquila
price it right

after demand, perhaps the next most important factor affecting a cpa firm’s pricing policies is competition.

more: how demand affects pricing | understanding the product pricing life cycle | 4 ways a production orientation can harm a firm | price to get the maximum fee | 7 issues in partner retirement planning | 5 ways to keep your edge | the toughest job in the world: managing an accounting practice | how to become the firm of choice
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as clients and prospects become more educated about cpa firms in their market, more sophisticated about the services offered and more cost-conscious, pricing becomes more important and more firms are beginning to stress the price of their services, especially in competitive request-for-proposal situations. intensive price competition in most professional service industries is now a way of life, from hotels to airlines, from car rentals to telecommunications and from law firms to cpa firms.
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are you on the right side of the desk?

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older businessman sitting at desk holding phonecombining media makes your message more effective.

by jassen bowman
tax resolution systems

whenever possible, you want to be speaking to prospects from a superior position. in marketing, this concept is called being on the right side of the desk.

more: one-step vs. two-step marketing | 5 daily tasks for maximum tax resolution profitability | 4 problems with the tax resolution industry | when tax filing season is over, what’s next?
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fortunately, this should be an easy concept for us as professional service providers to understand. we may not put much thought into it, but we are more inclined than most business owners to approach what we do from a position of authority and expertise. it may not sound very profound to you, but it really is what separates a professional from a mere salesman.
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how demand affects pricing

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word cloud related to demandone word: elasticity.

by august j. aquila
price it right

economists define demand as a schedule of the various amounts of an item (a good or service) that buyers will purchase at different price ranges during a given time period.

more: understanding the product pricing life cycle | marketing and the 5 p’s | why choose a marketplace orientation? | why value pricing? | solving underperforming or dysfunctional partners | the 3 types of partners you need
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according to the theory of price elasticity of demand, there is an inverse relationship between price and the quantity of an item bought. in other words, as the price of a service decreases, the quantity demanded increases and as the price of a service increases, the quantity demanded decreases.
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one-step vs. two-step marketing

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there’s room for both, but be smart about how you use them.

by jassen bowman
tax resolution systems

the number of steps that a lead must take in order to receive your full marketing message is an important consideration when planning marketing campaigns and media purchases. generally, the more steps that a lead must take in order to enter your marketing funnel is going to increase the quality of your leads, but decrease the quantity.

more: 5 daily tasks for maximum tax resolution profitability | first, you need clients | the tax resolution client intake checklist | how to end the tax revenue roller coaster with a four-season practice model | how to turn routine cpe into a new marketing opportunity
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for most marketing funnels, you want the process of becoming a prospect to be as simple and easy for the prospect as possible. the matter of one-step versus two-step marketing is largely a matter of media.
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understanding the product pricing life cycle

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chart of a product life cyclewhich of the 4 phases do your products fall into? here’s how to tell.

by august j. aquila
price it right

there is an important concept in marketing that provides companies with tremendous insight as to what they can expect for their products or services in the marketplace. it’s called the product life cycle and, sooner or later, all products and services will go through the complete cycle. as they do, several external and internal factors change.

more: marketing and the 5 p’s | how to shift from production to marketing orientation | how traditional fee methods hurt firms | 6 questions for planning your succession | underperformers come in many shapes and sizes
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the accounting industry and the services it provides are no different. the figure above displays the life cycle of a typical service or product.
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