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How to Qualify Clients for Your New Fixed Fee Pricing Model | Hubdoc

Some clients want the basics and may not be interested in the higher-value advice that makes fixed fees pricing a good solution. Some are more comfortable paying an hourly rate. They like that they can see how many hours of your time they get for what they pay. Each task you complete is accounted for on the invoice, and that gives them the feeling of being in control of the relationship.

When a client is stuck on hourly billing as their go-to solution it often means they are still in the traditional client-vendor relationship mindset. The clients who will be better suited to fixed pricing are those who favor the partnership-type of relationship enabled by cloud-accounting.

Fixed pricing works best when you are able to optimize your workflow and find efficiencies for both you and your clients. A key to making that happen is to standardize on one tech stack for all clients. This means choosing the right apps to automate your workflow—and then converting all fixed-fee clients to that stack. If you are able to make the conversion in all clients, your staff will be able to gain mastery over your stack, rather than having to learn several different systems. This allows them to work more efficiently and deliver the benefit of their expertise to the clients.

The challenge with some clients is that they have legacy tech that they are reluctant to move away from. In some cases this may be because they are not the most tech savvy companies and making a change to a new system causes anxiety. Or perhaps they believe the tech they are currently using is the right solution for them. Both of those types of clients will be harder to transition to your stack—and that will make fixed pricing hard to implement.

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How to Qualify Clients for Your New Fixed Fee Pricing Model.

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