How to motivate potential clients to focus less on rates reduction,
yet view your offer as more valuable.
Extra service inclusions or bundling lifts perceived offer values and makes pricing less comparable against competitors.
The finesse is to include enough value to win, without materially damaging margins.
However, margin retention is tough with competitors offering similar services and also willing to discount and bundle.
But not all bundled inclusions are of equal value.
Sometimes the add-in's perceived value makes price less relevant, when measured against possible future pain or gain.
For example, consider two accountancy providers of equal size and reputation, bidding for the same large corporate.
The 1st bids significantly lower pricing, providing the ability to save millions.
While the 2nd states:
“Our processes significantly reduce client risks of experiencing a cyber-attack as a result of our services.
We recognize it’s logical for professional service providers to major corporate and government, to be targeted by cyber criminals as a way to infiltrate our client's networks.
With business email still the prime vehicle for cyber infiltration (93%-2019*), we invested in a more secure collaboration process to collect, collate and disseminate info with our clients over email.
This significantly reduces our client’s exposure to reputational and financial damage, as a result of email infiltration in the delivery of our services”.
Which proposal do you feel provides a more powerful incentive?
Which has differentiated as having advanced capabilities?
Which has a better chance of retaining margins?
TOP CEO Concerns
What ‘concern’ has climbed from barley reported to on-the-radar of most global CEOs?
• Deloitte 2021 Fortune CEO Survey – ‘more than 4 out of 5 CEO’s saying - moderately or highly relevant to their CEO agenda.’
• KPMG 2021 CEO Pulse, Key trends – ‘emerged as the number one risk, rising dramatically from fifth place in August 2020.’
• Fortune 500 survey 2021, Zurich questionnaire - ~chosen as the top concern by two-thirds CEOs, far exceeding the 17% who chose “political instability” as their top concern or the 12% who chose “lack of resiliency” in the face of climate change, pandemics, and other threats.’
If able to demonstrate how your services fulfils your client’s requirements and assists in reducing this ‘On-The-Radar’ concern, then:
• Do you feel this combination provides a greater probability in gaining greater attention, successfully winning, or retaining, major accountancy revenue?
Wish To Learn More?
*Securitymagazine .com ~ 93% data breaches investigated traced back to email or other employee mishap. Most attacks are via phishing. Extremely effective phoney emails to dupe employees.