When – and how – To Discount Your Fees
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When - and how - To Discount Your Fees

June 21, 2017

by Tony Vidler  CFP logo   CLU logo  ChFC logo

fee-discountAs a general rule I don’t recommend that a professional discount their fees, as it tends to undermine their entire value proposition.   Discounting fees usually moves a professional from being an expert with highly specialised and valuable knowledge to someone simply selling hours of billable time in a consumers mind.

 

Discounting tends to commoditise the professionals’ service, leading in turn to consumers shopping around on the basis of lowest cost or price.

 

There are times however when it makes perfect sense to do so and can in fact be seen as a distinct added benefit of dealing with a particular professional.  It does need to be positioned correctly in order to avoid any perception in the consumers mind that the professional is not valuable, and is in fact aligning the interests of all parties.  

 

So a little bit of careful positioning can create the perception that yours and the clients interests are aligned, rather than moving you into the commoditised service space, which we walk through in this weeks quick video …

 

Watch the video to learn more…

You might also be interested in this related article:
 How To “Up Sell” Your Professional Services
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