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Many tax professionals ask whether customers will be upset if they are charged value-based or premium fees when they are accustomed to lower fees. The answer to that question depends on the situation but ultimately comes down to communication.
We in the tax planning industry have the unique ability to actually quantify to the dollar exactly what we’re worth to our clients. If we save someone $17,000 on their taxes, we know we’re worth that much to the client. However, the client isn’t always aware of exactly how much value we bring them.
That’s why it is the your responsibility as a tax professional to communicate the value you bring to your relationships. If you do this, it is unlikely your clients will be upset by value-based billing. If they know your value, they are unlikely to get upset. This type of communication takes a little practice, but it will dramatically transform the way you’re doing your billing.
If you have any further questions about the billing process, we’re always available to chat. Give us a call or shoot us an email for the coaching tips that will make all the difference in your career.