How we helped CA firm to get Fees increased by 40% in 3 Months

We recently got an assignment from CA firm in Mumbai to help them to get their fees increased from their clients. After 3 months of working with this CA firm we successfully increased their fees by 40%. Today we will tell you what were the strategies which we used which resulted into firms fees being increased by whoping 40%. These strategies were formulated after working closely with 100s of Professionals over the period of 12 years by our expert team.

We have discussed many tricks in a sequential manner but One of the best tricks is discussed towards end of the video so if you are serious about growing your firm please watch this video till end.

So let's dive into it stright away.

Ask for Fees

One single action which will increase chances of getting fees increased by client by 50% is - asking for it. If you will not ask for fees, there are 0% chances that you will get fees increased by client but if you will ask for it there are 50% chances that client may say yes to it. Problem is many people dont ask for it fearing client will not like it. Break that fear first and ask for fees.

Timing is Everything

Secondly, Timing is everything in life and also in business. You have to find the right time to initiate the dialogue for fees increase with the client. Right time can be in terms of how clients business is doing or they getting a new contract for their business or they having good cash flows. If client is doing financially well, your chances of getting fees increased are more. Look for the time where client can really listen to your case and decide peacefully whether you deserve fees increase or not.

Need Strong Follow up

It is not that you put an email to client and he will agree to your demand of fees increase. You may have to follow up your email with a personal call or personal visit to clients office to explain why you want fees increase.

Get FREE Products Now

Think over it hard

See, Take time to think over, your revised proposal. Stategize on what you are going to talk to client in the personal meeting.

Very carefully put your points on a paper and contemplate on it in detail. think of the objections which client will take and prepare an answer to every objection. Be ready to answer his questions on why there is a need for fees increase. Many people confused the objection on proposal for rejection. Objections are hurdles where client just wants further information and it's not rejection.

Justification for Fees Increase

Increase in the work burden or increasing cost of employees is reasonable cause for fees increase. You may show client how you saved him cost or how you helped him in tax planning or increasing his profits. Show him how you have been good partner to his business. How increase in fees will allow you to keep providing the higher level of service which will ultimately help the client.

Learn All Skills to Grow Practice, 100s of FREE Videos

Subscribe to Youtube

Handle Clients Objections

Client may tell you that same services are available at cheaper prices online or by other Consultants but you may explain him that the kind of service and knowledge you are providing will not be provided by online portals. kind of consistency you have provided they may not be able to provide it over the longer period of time. You may tell him how you are the expert of the industry your client is in and how you are better than other service providers who are offering services at cheaper rate.

You tell the client how you didn't ask for any rise during difficult situations of covid. how you didn't get your fees revised for last two years and even then you maintain the same level of service as you care for your client. Kindly comment and tell us didnt you wait for Covid to get over so that you can ask for fees raise. Tell us your experience how bad it was for you. 3 lucky viewers who comment on this video will get one month prcaticeguru branding posters FREE.

Grading of Clients

Next trick is You may grade your client list and decide which clients to ask for fees. First take up the clients where you are doing fantastically well you should select such clients for raise and clients where your relations need to be built further, you can wait and once after 3 to 6 months you have better relations you go for it.

Points like you visit your client personally or you look into their financial matters personally or you have allotted a senior person like a chartered accountant to look after their affairs are significant points for convincing client for fees raise.

If you are convinced you deserve a fees raise then be confident and present your case to client. It will not affect your relationships. Client won't look for other professional. It's all in your mind. So go or it. As we said we were Successful in our assignment where fees increased by 40%. pl subscribe to this channel for part 2 of this video.

Kindly comment and let us know what do you think about these suggestions.