WORKSHOP PRESENTED BY IGNITION'S TIM WILLIAMS
Professional firms struggle to extract the value they deserve from client relationships not because they aren't charging enough, but because they're selling the wrong thing to their clients. This economic misalignment is responsible for a continuing erosion of profits, but also a serious erosion in client relationships.
Most firms are on the defense -- not the offense -- because they're mired in industrial-age pricing practices. Instead of bringing 21st century pricing methodologies to the table, they are stuck in the deep rut of negotiating their costs instead of selling their value.
Time to join the pricing revolution
Studies have shown the single most powerful way to improve profits is not to cut costs, or even increase revenues, but rather to improve pricing. Just a 1% improvement in pricing can produce an 11% improvement in profitability.
In this provocative workshop, you'll learn:
- The many other progressive pricing strategies used by today's businesses and how they can easily apply to professional services
- Why the "billable hour" is not a "unit of value" (only a unit of cost) and how to effectively sell the value you create in other more effective forms
- Why your costs are really none of your client's business, and how to change to dialogue away from transparency of costs to what really matters: the value being created for the client
Dramatically different practices
Come prepared to roll up your sleeves and apply your brain power to some new, more effective ways of thinking about how your firm creates value and the many different ways you can get paid for it. Based on real-life examples from firms around the world, you'll be inspired to develop your competencies as a professional seller better equipped to deal with the professional buyers on the other side of the table, including such concepts as:
- Selecting the profit-optimizing price for each engagement or service
- How to charge for the value of outputs vs. the cost of inputs
- Why you should charge different prices for different clients at different times
- The importance of separating the value of solutions development and implementation
- The power of pricing options
- The key factors to consider when setting a fixed price
- Why good and bad solutions shouldn’t have the same value
The more you're able to move beyond the idea that you're selling your costs (hours), the more your firm will be able to capture the considerable value you create for your clients. This workshop looks at some of the forward-thinking firms that are leading the way by applying the same progressive pricing practices used by most other businesses and industries.
As part of this workshop, Ignition will provide a comprehensive workbook as well as access to proprietary online resources.
WHO SHOULD ATTEND
Every professional who deals with the question "How much will this cost?" from a client, or who has direct or indirect responsibility for determining pricing will benefit from the content of this workshop.
ABOUT THE PRESENTER
Tim Williams is founder of Ignition Consulting Group, a leading U.S.-based consultancy devoted to helping agencies and other professional firms create and capture more value. Tim is a noted author, international speaker, and presenter for major associations, networks, and business conferences worldwide. He is author of two books on business strategy and has authored numerous articles in leading marketing and business publications. Tim writes the popular blog “Propulsion” and was selected by LinkedIn as a global LinkedIn Influencers in the area of marketing. As a consultant to agencies, law firms, accounting firms and other professional services, Tim has worked with hundreds of firms ranging from mid-size independents to multinational networks in North and South America, Europe, Asia, and Australia. Before forming Ignition, Tim worked at global agencies in New York and elsewhere, and more recently served as president of several successful mid-sized firms in the United States.
This workshop can be presented in either a full-day or half-day format. A webinar version is available as well. For details and pricing, please contact us.