Why Only Monthly?
Since launching our brand new pricing system, Ekela, there's been a question that's come up a few times. Why can I only quote monthly? Why can't I quote annually?
Well, there's a really great reason for that. Let me explain.
Ekela is built to be something that no other pricing system is. It's built to take advantage of everything I've been teaching from pricing over the last 7 years. Based on research from some of the top names in behavioural economics, it pulls together the best advice available.
Everything from ending your prices with a 9, to offering three options and unbundling your package. Offering a monthly price is part of that, even for work you might do annually.
Not only can you appear better value by offering a monthly price, but you also become much stickier and build stronger relationships with your clients. Rather than chasing them once a year, you can become proactive and help them to plan for their tax bill rather than react to it. You can deal with their queries about buying new equipment or taking on-premises while you have some influence over the best way and time to do it, rather than finding out after the year-end that it's been done the wrong way.
Finally, you build that relationship with regular contact. You get to know what's happening in their business and where you can add more value or sell additional services. If you don't offer this regular support, your annual clients have a whole year between contact to be tempted by someone who will.
After all, with MTD we will soon be forced to have more regular contact with our current annual clients. Why not start now?
So how do you get someone who has been with you for a while on an annual package to move to monthly? That was the challenge faced by one of our members recently, and below is the bones of a letter I wrote to help her client make the move. You're welcome to use this with your clients too and make the same move.