Getting Your Pricing Strategy Right: A Guide for Accountants

Why your pricing strategy could be holding you back

If you're like most accountants, you probably didn’t get into this profession because you love talking about money. But here’s the truth…

Pricing is one of the most misunderstood areas of practice management.
And when you get it wrong, it costs you – financially and emotionally.

Overcharging? Rarely.
Undercharging? All the time.

Let me explain…

When pricing is based on fear, guesswork, or what others are charging, it leads to overwork, poor cash flow, and constant stress. But when you base pricing on value – real value – everything changes.

Let’s explore how to do that.

Clients aren’t price sensitive – they’re value sensitive

One of the biggest myths is that clients won’t pay more.

But that’s not true.

Clients – especially business owners – will pay more if they believe the value outweighs the price.
It’s not about what it costs. It’s about what it’s worth to them.

If you want to improve pricing, shift your conversations.
Stop talking about inputs. Start talking about outcomes.

There’s no such thing as a market price

You might think there’s a going rate.
But there isn’t.

Studies show that for the exact same service, prices can vary fivefold between firms.
That’s not a market rate. That’s a sign of confusion.

So what does this mean?

Stop copying your competitors.
Instead, focus on differentiating your firm and communicating your value.

Fixed pricing isn’t value pricing

Let’s clear this up.

Switching from hourly to fixed fees is a great start. But it’s not enough.

Fixed pricing still relies on time and cost estimates. It’s just packaged differently.

Value pricing, on the other hand, starts with this question:
What is this service worth to the client?

When you price based on value, you price for results – not time.

Price increases during tough times? Yes – if you do this…

When times get tough, most accountants freeze.
They worry clients won’t accept a fee increase.

But here’s the twist…

During difficult times, clients need you more.

If you step up, solve urgent problems, and offer clarity when others don’t –
they’ll pay more, not less.

Don’t discount. Deliver more value.

Compliance work is not a commodity

Bookkeeping. Payroll. Tax returns.
It’s easy to think these are “standard”.

But they’re not.

Even compliance work can be enhanced.
With better technology, advice, and service – you create perceived difference.

And that supports higher prices.

Avoid these common pricing mistakes

Here are the big traps that trip up most firms:

• Not giving upfront price certainty.
• Copying what others charge.
• Avoiding pricing conversations.
• Publishing prices on your website.

These lead to undercharging, conflict, and a race to the bottom.

Get strategic. Be intentional. Talk about value.

Position yourself as a premium provider

Trying to be the cheapest? That’s a losing game.

Instead, aim to be the best.
Deliver more. Specialise. Serve fewer clients – better.

Premium positioning leads to better fees and better clients.

It’s not about being expensive.
It’s about being worth it.

Bigger isn’t always better

Growth doesn’t mean having hundreds of clients.

In fact, that’s often the opposite of success.

The most profitable firms serve fewer clients at higher prices.
This means better relationships, more impact, and less stress.

So don’t chase volume.
Chase value.

Conclusion: Pricing isn’t about numbers – it’s about mindset

If you want to grow your firm, improve your pricing.

Forget about what others are charging.
Forget about discounts.

Start talking about results.
Start showing value.
Start believing you’re worth more.

When you get pricing right, everything else falls into place.

💡 Pro Tip

Never assume clients understand your value.
You must explain it – clearly, consistently, and confidently.

If you don’t communicate value, price is the only thing they’ll focus on.

❓ Frequently Asked Questions

Q1: Isn’t it risky to raise prices in a recession?
A: Not if you’re delivering more value. Clients will pay for results, especially in uncertain times.

Q2: How do I value price compliance work?
A: By enhancing the experience – faster turnaround, proactive advice, integrated tech. It all adds value.

Q3: Should I show prices on my website?
A: No. It removes the opportunity to discuss value. Pricing should be tailored and explained in context.

Q4: What if clients say I’m too expensive?
A: That means they don’t see the value – yet. Improve how you present the benefits, not just the features.

Q5: Is fixed pricing good enough?
A: It’s better than hourly, but it’s still based on cost. True value pricing is based on worth to the client.

The Value Pricing Academy Team