When the Firm Needs to Feel Confident About Its Pricing
Small tax and accounting firms need to optimize their pricing structures for increased margins and to focus on enjoyable work. The Perfect Subscription Process was developed over 14+ years of working with thousands of small firms. It has five specific elements the firm and any preparer should execute in practice.
Used consistently, the framework lets the firm help clients achieve their goals without tracking every minute, tie subscription fees to the strategic work that has been getting given away, and land on a subscription price that matches the client’s needs.
Five Elements of the Perfect Subscription Process
Tie fees to strategy
Subscription is for strategic help, not just compliance.
Identify adjustments
Where current pricing needs to move.
Educate clients
On the value of subscription packages.
Remove obstacles
That could cause the rollout to fail.
Optimize the menu
So pricing matches the value delivered.
Tie Subscription Fees to Strategic Help
- Acknowledge that clients seek expertise for more than tax filing or bookkeeping.
- Recognize that value extends beyond routine tasks to strategic guidance and tailored solutions.
- Develop a structured process for delivering strategic help: goal-setting, financial assessments, customized action plans, and ongoing support.
Identify Areas in Current Pricing That Need Adjustment
- Review the existing pricing structure comprehensively.
- Segment clients based on needs, size, complexity, and industry.
- Consider bundling services or features that travel together.
- Evaluate pricing models (hourly, fixed-fee, subscription) for fit by client type.
- Communicate pricing changes transparently.
Educate Clients About the Value of Subscription Packages
- Update clients regularly through email or one-on-one meetings.
- Clearly communicate the benefits of subscription packages.
- Emphasize the added value clients receive by subscribing rather than paying per project.
Eliminate Everything That Could Cause Pricing Packages to Fail
- Identify potential obstacles to a successful pricing transition.
- Address client resistance and internal team challenges.
- Streamline processes so the transition runs smoothly.
- Provide support and resources for both clients and staff.
- Continuously monitor and adjust strategies to overcome challenges as they appear.
Optimize the Pricing Menu to Match Value Delivered
- Continuously assess and refine pricing based on client feedback.
- Align pricing with the actual value delivered to clients.
- Update pricing to reflect changes in the market or service offerings.
- Bundle services to enhance perceived value.
- Keep the pricing menu easy to understand and easy to choose from.
Common Questions About Subscription Pricing
Should the firm move every client to subscription?
No. Subscription pricing fits clients who want ongoing, strategic help. Keep hourly retainers and fixed-fee options on the menu for client situations that fit those models better.
What's the first step to introducing subscription pricing?
Tie the package to strategic help and define the delivery process for that help. Pricing tied to compliance work alone tends to feel like a hidden fee increase to clients.
How quickly should the firm roll subscription out?
Start with a small, controlled group. The data shows trying to switch every client at once produces worse outcomes than introducing the option progressively.
What's the biggest reason rollouts fail?
The package is focused on the wrong value (compliance instead of strategy), or there is no defined process to deliver the value the client signed up for. Both create churn.
