Profitability

Growth means different things to every firm. Profitably serving clients provides the foundation for taking your firm wherever you want to go. Whether you are looking for revenue growth, more satisfying engagements, or more time in the day to advise clients on the issues that matter most to them, it all starts with offering services that bring value to your firm and your clients

Marketing can give focus to the decisions that impact profitability and long-term growth.

Packages and
Pricing

Fast-growing firms are moving away from time-based pricing as it becomes clear that alternative pricing models benefit the clients and the firm. Service packages and subscriptions make it easy for both client and provider to understand what’s included, simplifies payment collection, and allows your team to anticipate when additional services would benefit the client.

Niche Development

When a firm focuses on a specific ideal client within an industry, everything gets simpler. Service offerings become predictable and repeatable, team members aren’t spending time on research that will only benefit one client, and risk is mitigated when the firm has deep knowledge and experience in regulations related to that particular industry. Plus, go-to firms can command prices in line with the value they provide and the confidence they inspire in their clients.

Lifetime Value
of a Client

Many firms focus on their clients’ annual billings, without thinking about the long term, which means they miss-out on the true potential lifetime value of a client. Whether that means not offering additional services that would benefit that client, or under-investing in attracting clients who would be loyal for many years, this is a common blind spot for firms that would like to be more profitable. Marketing can provide the strategy to increase the lifetime value of your clients.

Succession
Planning

Profitability is just as important as revenue when it comes to building a firm that future partners will want to buy into. From having a plan for introducing these rising stars to clients to including them in business development activities, keeping succession planning in mind can bolster long term profitability.

Recent Projects

No More
AUM

While wealth managers have historically based their pricing on assets under management (AUM), that system doesn’t really capture the true value or breadth of services the wealth manager provides. Additionally, AUM based fees put the focus on market returns, which are important, but leave wealth managers doing more work for less money in down markets. We’re working with a wealth management firm to create packages with services and pricing that will benefit both the client and the firm and increase transparency.

Looking for $2 million dollars

A regional CPA firm approached us with a challenge of increasing advisory service revenue from current clients by $2 million dollars for the year. Challenge accepted! When marketing, business development and the partners collaborated, it became clear there was a large group of loyal clients who could benefit from more attention and additional services.

How much does
it Cost?

A CPA client was tired of answering the same pricing questions from 1040 prospects every year. They needed a website pricing estimator! We worked with them to develop a pricing model that would ensure they maintained (or increased!) their overall profitably based on certain tax return criteria. Then on the website, prospects could answer a few simple lifestyle questions to see what price they were likely to pay for the services. .