Fees Benchmarking Study
Source: Rain Today
The following is an excerpt (reprinted with permission) from RainToday.com’s Fees and Pricing Benchmark Report: Accounting and Financial Services Industry 2008 (pages 10-15—Pricing Strategies):
We asked respondents to indicate whether they used specific pricing strategies “most of the time,” “sometimes,” “infrequently,” or “not at all.” Figure 2.1 shows their responses for strategies used “most of the time” and “sometimes.” Summaries of each specific strategy follow. In addition to these overall results, use of pricing strategies by premium-price firms, profit leaders, price-increasers, and brand leaders appear in those report sections.
| Going rates | 36 percent used most of the time |
| Fixed fees | 33 percent used most of the time |
| Value-based | 29 percent used most of the time |
| Hourly or daily rates | 34 percent used most of the time |
Note: The strategies are not mutually exclusive. Firms may consider the going rates for services in their area of expertise, calculate a scope based on hourly or daily fees, and then estimate the value the client would receive from the engagement and adjust from there.
Click here to view pages 10-15 of the report.
The complete report includes research highlights, six major pricing recommendations to recharge your marketing and sales outreach, and a median hourly rate index broken down by level of professional and firm category (brand leaders, premium-price firms, and firm size).
Order your copy of the complete report at http://www.raintoday.com/feesandpricingaccounting.cfm.
Measuring CPA Leadership Effectiveness |
Full Service Real Estate Investment and Mortgage Finance. |