
How many prospects call your office this time of year and ask what your price for tax preparation is? More importantly, how do you answer them?
It’s tempting to blurt out a price or a ballpark. However, don’t go there until you have the information you need to confidently give them a fair price.
The first lesson in sales.
Be curious. Don’t provide an answer to the ‘what’s your price’ question until YOU have all the answers to YOUR questions about the prospect. Remember, you have the freedom to choose who you want to do business with. Those who are just looking for the lowest price will likely have you wishing you charged a hefty ‘PITA’ fee if you take them.
If you run a high-volume, low-price business, so be it. But, if you want clients who offer advisory and consulting opportunities beyond preparing their tax returns, keep reading.
Ask the right questions.
When a prospect asks the “price question” right out of the gates, they are (inadvertently) attempting to reduce your service to a commodity and compare what you offer to what they are currently getting. Your job is to represent yourself differently and prevent your prospect from being able to compare what you do to what they currently get.
Start by asking key questions.
How did you find out about us?
What has you looking to make a change from your current accountant?
What do you use your current accountant for besides your tax return?
What is the most important thing you are looking for in an accountant?
Do you have a business? (Explore that business.)
What are your goals for this year? Current pain points?
You get the drift…and these are some good starter questions.
The answers to these questions will help you qualify whether or not you want this prospect as a client. If you do, now you have some great data about what is important to them as well as the opportunity they represent to your business.
Your price quote
After leading your prospective client through your sales process, you will have everything you need to propose a fair price for work. Many accountants tend to under value themselves. The key? Confidence that your work is worthy of the price you charge. And confidence that you are delivering value to the client that exceeds the price you are charging.
To quote our CFO at TaxExact®, “price is only relevant in the absence of value.”
An extra boost of confidence
Remember leaving the classroom after an exam in college and having that feeling about how you did? Sometimes, you knew you nailed it. Others, you thought you bombed it or just didn’t know. The feeling that went along with knowing you rocked your exam is what should accompany every tax return you complete. Knowing you got it right. When you can assuredly tell a client that your firm not only saves clients thousands of dollars in taxes, but that you can also provide verification that every 1040 is right. Your client will gain instant peace of mind. And, can you put a price on that?
TaxExact is a 1040 review tool that verifies the result of the return and isolates errors and discrepancies immediately. Using TaxExact increases profitability for tax professionals and value for their clients. If you’d like to see a demo of how TaxExact works, or outsource your 1040 reviews to our onshore team of professionals, contact us today at https://taxexact.com/request-a-demo/.