| When it comes to selling things, the human tendency to | | | | In addition to packaging your services, you should |
| package can make life easier. When you're marketing | | | | consider cross-selling. Many years ago I learnt while |
| yourself and trying to sign on new clients, you'll want to | | | | attending a seminar by the legendary marketer Jay |
| take full advantage of aspect of human psychology. | | | | Abrahams that there are 3 ways to grow your |
| Bundle services together and suddenly a new client will | | | | practice: |
| be bringing you as much business as two or three | | | | 1) Increase number of new clients |
| clients in the past. | | | | 2) Increase the fees paid by each client |
| When it comes to buying things, packages are | | | | 3) Increase the frequency of purchase or sell the |
| attractive because they seem to simplify the client's | | | | same client more services |
| life. If an insurance company offers me a package | | | | Cross selling is the way the CPA practitioner increases |
| deal on car insurance, home owner's insurance, and life | | | | the frequency of purchase. |
| insurance, suddenly I have so many fewer decisions to | | | | When you have a relationship with the client, you can |
| make-and I don't have to deal with three different | | | | offer them other services that will help the client. How |
| insurance agents. I might save some money, but even | | | | does one go about finding out the services that your |
| if I don't, I save aggravation and time, and most people | | | | clients need? Not to oversimplify it, but really, the best |
| value their time as much as their money. Costco or | | | | way to find out is by asking. We recently conducted a |
| BJ's Club are good examples of packaging in the retail | | | | survey and we called up most of my business clients |
| world, and the number of people that flock to these | | | | to ask them how we were scoring and what else we |
| giant stores indicate the popularity of packaging. Fast | | | | could do that could help them. It's really very instructive |
| food places have the value meal, which is a package | | | | to hear the clients' perspective on things. I have also |
| of a sandwich, fries and a drink. | | | | found this to be one of the best ways to find out other |
| What is also important is to offer different packages, | | | | services we should be providing. |
| i.e. to give the client options. When I first started out, I | | | | Here's a partial list of additional services to offer: |
| offered piecemeal services at standard rates. Then I | | | | Financial planning or wealth management services |
| realized that clients work in a different way. Many | | | | QuickBooks consulting - Outsourced accounting (A |
| people like options. They don't want to be "forced" into | | | | couple of years, we packaged our QuickBooks |
| taking something that doesn't suit them. They want the | | | | consulting services as either a 10-hour package or a |
| option of small, medium and large. Going to the | | | | 20-hour package, to be used in one year.) |
| example I gave of the restaurant, they have a small | | | | Audit protection |
| value meal, medium or large. | | | | Business consulting |
| "Small, medium, or large" doesn't quite work for | | | | Business valuation services |
| accounting services. The principle I use to distinguish | | | | Payroll services |
| between levels of service is this: the more accessibility | | | | Controllership services |
| to me and to my staff a package offers the client, the | | | | Using this list as a starting point, talk to your clients and |
| higher the fees. So while we can custom tailor the | | | | find out what services they need that you could offer. |
| service package to fit their needs, nonetheless the | | | | Specialize in what your target clients want, and you're |
| services are packaged based on frequency. | | | | just about certain to grow your practice. |