Reporting & Pricing to Bookkeeping Clients
Question from a fellow subscriber…
…for your lowest tier bookkeeping clients... are they happy with just receiving reports at month end? One response I've heard lately from potential clients is that they don't receive enough communication from their current bookkeeper, and that is a big reason as to why they are looking at switching to a new bookkeeper. I do a quick 15 minute Zoom call at month end for all of my clients. Or if it's a super busy season for them, I send them a Loom video and let them know that they can call or email me if they have any questions or needs.
I assume they’re happy or they’d fire me? Maybe that’s a bad assumption - haha
I also hear from most of my new clients that they aren’t getting “enough” communication from their current bookkeeper as well. But then when I dig into the word “enough”, I learn we have different definitions of “enough”.
It goes like this…
Me: “Tell me what kind of reporting your current bookkeeper is sending you.”
Them: “They’re not sending me anything.”
Me: “Oh.”
From there, I decide to send them any kind of reporting and charge them more than their last bookkeeper.
Kidding…
But I do know they are happy to get the custom (Fathom) reporting I provide compared to getting nothing.
I, personally, didn’t realize that my standard for basic table stakes in accounting wasn’t what everyone was providing. I actually find that I constantly underestimate myself and overestimate everyone else. (This is probably a bad.)
I don’t know if this is a gender thing or weird personality trait or something that the competitive nature of corporate America engrained in me, but I constantly have to remind myself that I’m better than I give myself credit for. (Sorry, that was deep and you’re not my therapist, but maybe that’s a thing for you too.)
All that to say…
Providing consistent reporting to your lowest tier clients is great.
Providing some kind of video to walk them through is even better.
But Great and Better should have different price points.
If Bookkeeping + Reporting costs $400 (for example), then Bookkeeping + Reporting + Loom Video + Question Answering should cost them more.
Talk soon,
Erica
Behind-the-scenes in my business this week:
It’s “Week 3” in my workflow, so I’m meeting with my mid-tier clients this week. I also did a 50-min strategy session and had a discovery call for a new client yesterday. It went well. We’ll onboard in September, because I have zero desire to onboard anyone in the summer…or December thru February. This replaces a client I lost in May. I’m not looking to scale. Don’t panic.
No Work Wednesday is getting my kids on the 4H bus this morning for a field trip. I was going to have an alone-day, but our church is going through a remodel and I find an odd joy in laying laminate flooring. So I’ll be there :o)
Money back guarantee, if you get in there and don’t see the value. No questions asked.
More details in the link above.