How to Get Started with Value Pricing in 3 Simple Steps

gabi • April 8, 2025

Pricing is one of the biggest challenges for accounting professionals. Many firms stick to hourly billing because it’s the traditional way, but it often leads to overwork, client dissatisfaction, and limited profitability. Value pricing provides a better alternative, allowing you to price your services based on the value you deliver rather than the time spent.


Mark Wickersham, chartered accountant and pricing expert, has spent over 20 years teaching accountants how to master value pricing. In this blog, he shares three simple steps to help you make the transition and unlock higher profits while serving your clients better.



The Myth of Price Sensitivity




One of the biggest misconceptions in the accounting profession is that clients are highly price-sensitive. Many accountants fear that if they increase prices, they will lose clients. But research in price psychology and behavioural economics suggests otherwise.


In reality, most clients are value-sensitive rather than price-sensitive. They don’t necessarily choose the cheapest option; they assess the value they receive against the cost. If clients perceive strong value in your services, they will be willing to pay more.

To shift to value pricing, you must change the conversation from cost to value.



The Three Biggest Pricing Mistakes



Before looking at the steps to get started, it's important to understand the common pricing mistakes many accountants make:


  1. Being too cheap – Many accountants undercharge for their expertise, leading to long hours and low profitability.
  2. Billing based on time – Time-based billing rewards inefficiency and often leads to surprise bills that clients dislike.
  3. Avoiding price conversations – Sending proposals without discussing price leads to lost opportunities and weakened client relationships.



With value pricing, you can overcome these challenges and build a more sustainable, profitable business.



Step 1: Add More Value


The more value you provide, the more you can charge. Value pricing isn’t just about increasing prices, it’s about creating a better experience for your clients.

Here are some ways to add more value to your services:

  • Offer additional insights and reports tailored to the client’s business.
  • Provide proactive tax planning instead of just compliance.
  • Include regular review meetings to discuss financial health and opportunities.
  • Deliver services in a more convenient and efficient way.


By identifying ways to enhance your services, you differentiate yourself from competitors and increase the perceived value of your work.


Step 2: Offer Clients a Choice


Not all clients have the same needs, which is why a one-size-fits-all pricing model doesn't work. Instead of giving a single fixed price, offer tiered pricing options, often called menu pricing.


A simple approach is to create three service levels:

  • Basic (Bronze) – Covers the essential services.
  • Standard (Silver) – Adds extra benefits, such as regular advisory sessions.
  • Premium (Gold) – Provides the most value with exclusive services, priority support, and strategic planning.


By presenting options, clients feel in control of their spending while also recognising the higher value in premium services. Many will opt for the middle or higher tiers, leading to greater profitability for your firm.


Step 3: Communicate the Value Clearly


Clients only perceive value if you communicate it effectively. The reason many accountants struggle with pricing is that they focus too much on features instead of benefits.



How to Communicate Value Effectively




  • Turn features into benefits – Instead of saying, “We provide monthly reports,” explain how those reports help the client make better business decisions.
  • Use comparisons – Show how your service delivers better results compared to cheaper, lower-quality alternatives.
  • Tell success stories – Share real examples of how clients have benefited from your services.
  • Have pricing conversations face-to-face – When you discuss pricing in person or on a call, you can address concerns and reinforce value. Sending a proposal without context often results in price objections.


The Impact of Value Pricing


Accountants who transition to value pricing see significant benefits:


  • Higher profitability – Fees often double or triple compared to time-based billing.
  • Better client relationships – Clients appreciate transparency and knowing exactly what they’re paying for.
  • More predictable cash flow – Many firms switch to monthly retainers and upfront payments, reducing late payments and cash flow issues.


Get Started with Value Pricing Today



If you’re ready to move away from hourly billing and unlock the full potential of your accounting firm, start with these three steps:


  1. Identify ways to add more value to your services.
  2. Offer tiered pricing to give clients a choice.
  3. Clearly communicate the benefits of your services.


To make the transition easier, you can use a structured system like Effective Pricing to help automate and simplify your pricing conversations.


Try Effective Pricing


Want to confidently set prices based on value rather than time? Try Effective Pricing and take the guesswork out of pricing.

By adopting value pricing, you create a win-win situation—clients get more value, and you earn what you truly deserve for your expertise.

Why Giving One Price Is Always the Wrong Price

By gabi • June 13, 2025
“When you give one price, it’s always the wrong price.” — Teresa Slack It’s a common scenario. A prospective client asks for a quote. You review their details, estimate the work involved, and deliver a single price. Their reaction? They hesitate. They ask for a discount. Or worse—they ghost you completely. The issue isn’t that your price was too high or too low. The real problem? You gave them only one option. Why One Price Doesn’t Work A single price turns your service into a yes-or-no decision. You’re putting pressure on the client to either accept or reject your offer—without the context of value or flexibility. Even if you believe your price is fair, your client may not be ready to commit without understanding what they're really paying for. Plus, you’re locking yourself into a number that may not reflect the complexity, needs, or expectations of the client. The outcome? You either: Undercharge (and resent it later), or Overcharge (and lose the deal) Neither serves you or the client. What Clients Really Want: Control and Clarity In today’s world, clients expect transparency. They want to know: What they're getting Why it costs what it does What options are available They want to feel in control of the buying process. When Teresa Slack shifted to letting clients "build their own package" through Effective Pricing, everything changed. Clients began engaging with the process, asking better questions, and ultimately choosing higher-value packages themselves. The Power of Presenting Options Instead of giving a single number, offer clients a structured choice: Entry Level Full Service Premium Experience Or even better, let them dynamically adjust their selection based on scope. When clients see the value behind each service line, they make better-informed decisions. You move from price being a sticking point to it being a reflection of value. Teresa shared how one client increased their monthly fee by 204% after going through this process. Why? Because he realised everything that was on offer—and valued it. How to Present Pricing the Right Way Here’s how you shift from pricing resistance to pricing confidence: Scope Before You Quote Start with a discovery session or diagnostic review. Uncover: Volume and complexity of work Pain points and priorities Desired outcomes Use Interactive Pricing Tools Forget spreadsheets and static quotes. Use tools like Effective Pricing to: Show real-time price changes based on scope Let clients see what’s included Build transparency into every quote Let Clients Shape Their Package Allow toggling options on or off. If the full package is too expensive, don’t discount—adjust the scope. “We don’t discount. We remove services.” — Teresa Slack From Negotiation to Collaboration This approach changes the nature of the sales conversation: Old way: "Can you do it for less?" New way: "What if we removed reporting or payroll support to reduce the price?" You’re no longer justifying your fee. You’re collaborating with the client to find the right fit. That builds trust. That wins work. Conclusion: Stop Pricing in Absolutes If you’re still offering one quote per client, you’re missing a huge opportunity to: Position your value clearly Increase your average fee Build better client relationships The right price is the one the client chooses—because it reflects what they truly care about. Try Effective Pricing Want to see how flexible, transparent pricing can transform your firm? 🎯 Book a free demo of Effective Pricing and discover how to: Price confidently Scope accurately Convert more clients → Try it now and give your clients a choice they’ll actually value

The Biggest Mistake Firms Make When Switching to Value Pricing (and How to Avoid It)

By gabi • June 6, 2025
Think you’ve moved away from hourly billing and embraced value pricing? You might not have. For many bookkeeping and accounting firms, pricing remains the Achilles' heel. Despite good intentions, most who "switch" to value pricing actually end up using fixed pricing—and they don't even realise it. On the surface, it feels like progress. But under the hood, it's often just the same problem dressed differently. In this article, we’ll explore the most common misstep firms make when transitioning their pricing models, why it matters, and how to make a true shift to value pricing that increases revenue, improves client relationships, and restores profitability.

She Was Losing Money on Every Client—Until One Pricing Change Turned Everything Around

By gabi • May 30, 2025
"There were times we couldn’t make payroll. We pulled money from our personal investments just to pay staff." That’s how bad things had become for Teresa Slack, co-founder of Financly Bookkeeping Solutions. On the surface, her business looked like a success. It had a growing client base, a team of skilled staff, and years of momentum behind it. But underneath, the numbers told a different story: they were barely breaking even, despite all the hard work. The culprit? Outdated, ineffective pricing. Meet Teresa and Financly Based in Ontario, Canada, Financly is a virtual bookkeeping firm specialising in e-commerce businesses, particularly those selling on Shopify and Amazon. With a team of 10 working remotely across Canada and Europe, Teresa and her sister Connie built a thriving niche-focused firm. But as the business grew, so too did the pressure. In the early days, they charged hourly rates as low as $18, later increasing to $35. Eventually, they transitioned to fixed pricing, offering packages at $200, $300, and $400 per month. But even that wasn’t enough. The business couldn’t sustain the team they had built. "We were paying our staff more than what the clients paid us," Teresa recalled. Overworked, Underpaid, and Out of Options Despite having more than 100 tax clients and 50 consulting clients, Teresa and Connie weren’t paying themselves. They were burning out, fast. "It was incredibly stressful because we knew we needed to do things differently, but we didn’t have any money." Then came a pivotal moment: a conference in Toronto where they first heard Mark Wickersham speak about value pricing. The Lightbulb Moment They joined the Value Pricing Academy and soon learned they had been confusing fixed pricing with value pricing. The difference? With fixed pricing, every client pays the same. With value pricing, every client pays according to the unique scope of their needs. They began trying to build their own pricing models in Excel, but it was clunky and time-consuming. That’s when they discovered Effective Pricing . "You cannot do value pricing easily without this amazing tool," Teresa said. Putting It to the Test Teresa used Effective Pricing for the first time with a new client. She was nervous. "My heart was pounding. My mouth was dry. I didn’t know how it would go." But the result was astonishing. The client loved the process. They appreciated the transparency, the ability to select what services they wanted, and how the pricing adjusted dynamically based on scope. The outcome? A 204% increase in pricing. Reinventing the Sales Process Since then, Teresa has redesigned her entire sales approach. She now begins with a paid diagnostic review to uncover scope and pain points. Only after that does she present pricing using Effective Pricing. This two-step method means clients see the value before seeing the price. And Teresa can tailor each pricing conversation with precision. "When you give one price, it’s always the wrong price. Clients either ask for a discount or say no. Now, if a client thinks the package is too much, we remove services. We don’t discount." The Transformation: Financly 2.0 Financly is now thriving. The business is profitable. Staff are paid well and enjoy benefits. Teresa and Connie now take a salary. The firm is approaching $1 million in annual turnover. And clients? They now pay what they’re truly worth. "We have clients paying $4,000 a month for bookkeeping," Teresa said. "Ten years ago, I couldn’t have imagined that." Hidden Wins The benefits didn’t stop at pricing. Miscommunication has plummeted. Clients now see exactly what is and isn’t included. Upsells are natural. Clients return months later to add more services they saw during onboarding. Client fit has improved. Teresa now works only with clients who respect and value her work. Teresa’s Advice to Bookkeepers and Accountants "If you’re struggling, working long hours, and undercharging, make the leap to value pricing. The shift will let you attract better clients, do better work, and actually enjoy your business again." Ready to Make the Shift? Explore how Effective Pricing can transform your practice, just like it did for Teresa Slack. → Learn more and sign up for Effective Pricing today.