Pricing in the accounting & financial services industry: How do you compare?
A key element of growing your accounting and financial services firm is keeping ever-vigilant watch over your competition...who are they? What space do they occupy? Why do they attract – and retain – the same clients you aggressively pursue? What marketing and sales strategies do you need to put in place to guard against competitive inroads and help secure a profitable, leadership position?
The bedrock of competitive analysis includes having a solid grasp of competitor sales and marketing practices - especially the fee structures, discounting guidelines, pricing approaches, and overall pricing models that can spell the difference between champion players and the also-rans.
With the Fees and Pricing Benchmark Report, you will learn exactly what the pricing landscape looks like in the accounting and financial services field, including:
- Does brand affect pricing?
- How often do firms discount their fees? How much of a discount is offered?
- What are the most important factors firms consider when pricing accounting and financial services?
- What pricing strategies are most commonly used? Is the billable hour really dead?
- Are service guarantees being used? What do these guarantees cover?
- What are the hourly fees that accounting and financial services firms are realizing?
- What do the firms that are premium-priced firms do differently than the rest? Which strategies do they use more and less often? What factors do they consider important when pricing?
- What factors influenced price increases and decreases over the past two years?
Plus, this research provides a median hourly rate index by level of professional:
- Highest-level professionals (principal, senior partner, C-level managers, etc.)
- Upper-level professionals (VPs, newer partner, etc.)
- Advanced-level professionals (directors, experienced professionals)
- Mid-level professionals (managers, several years of experience, post-MBA, etc.)
- Entry-level professionals (new associates)
The Fees and Pricing Benchmark Report will allow you to measure your pricing strategies against the competition and determine if, and where, you may be leaving money on the table.
It will also provide keen insight into what the leaders in your industry are doing differently to stay ahead in a crowded market space.
The report includes special attention, analysis, and commentary for the following subsets of firms:
- Premium-price firms: Those firms who charge higher fees than the rest
- Profit leaders: Those firms who report higher profits than the rest
- Brand leaders: Those firms who are better known
- Price increasers: Those firms who have increased their prices over the last two years
Table of Contents
Section 1: Research Highlights & Recommendations
Research Highlights
Recommendations
Section 2: Pricing Strategies
Going Rates Pricing
Fixed-Fee Pricing
Value-Based Pricing
Hourly or Daily Fees
Introductory Services
Retainer Fees
Cost-Plus Pricing
Contingent or Incentive Fees
Section 3: Pricing Tactics
Challenges in Pricing Decisions
Factors in Pricing Decision
Average (Median) Hourly Billing Rates
Discounting
Competitive Pricing
Service Guarantees
Section 4: Premium-Price Firms
Competitive Positioning
Pricing Decision Factors
Pricing Strategies
Hourly (Median) Billing Rates
Change in Rates
Competitive Pricing
Reputation Reach
Client Base
Section 5: Profit Leaders
Which Firms Are Earning a Profit?
Pricing Challenges
Pricing Strategies
Discounting
Future Change in Pricing
Competitive Pricing
Price-Increasers and Profitability
Section 6: Brand Leaders
Pricing Challenges and Decision Factors
Pricing Strategies
Hourly (Median) Billable Rates
Client Profile
Competitive Positioning
Annual Revenue
Section 7: Price-Increasers
Changes in Fees and Pricing
Pricing Challenges and Decision Factors
Pricing Strategies
Change in Annual Revenue
Profitability
Section 8: Larger and Smaller Size Firms
Pricing Challenges and Decision Factors
Pricing Strategies
Median (Hourly) Billing Rates
Section 9: Firm Demographics
Annual Revenue
Company Size by Number of Employees
Role Within Company
Regional Location of Office
Portion of Revenue Coming from New Clients
Section 10: Methodology
Data Collection
Analysis
About RainToday.com
About Wellesley Hills Group
About the Authors
100% Money Back Guarantee
If you are not satisfied with our data, analysis, and charts, simply return Fees and Pricing Benchmark Report for a 100% refund.
Get your copy of Fees and Pricing Benchmark Report: Accounting & Financial Services Industry 2008 today. Instantly download your printable PDF, or order a printed copy that will ship within 24 hours.
Now Available: Fees and Pricing Benchmark Reports for 4 other Industries