Handling Price Increases
In this episode, Rachel and Marcus discuss their experience implementing price increases at DBA in 2024. They share their strategy of presenting clients with updated pricing based on new service packages, while offering loyalty discounts to ease the transition. Despite some client churn, DBA ultimately increased monthly recurring revenue by over $6,000 while serving 15 fewer clients, freeing up capacity for their team. Rachel and Marcus break down the numbers and share valuable lessons for other firm owners considering price increases.
Learn More About Dillon Business Advisors
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Learn More About Dillon Business Advisors
https://www.dillonadvisors.com
https://www.linkedin.com/company/dillonbusinessadvisors
Sign up to get free CPE for listening to this podcast
https://earmarkcpe.com
Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app
- (00:00) - Welcome to Who's Really The Boss Podcast
- (00:34) - Family Updates and Summer Jobs
- (03:34) - Price Increases for Client Accounting Services
- (04:33) - Evergreen Engagement Letters Explained
- (06:39) - Implementing Price Increases
- (09:54) - Client Reactions and Feedback
- (11:44) - Adjusting Service Offerings and Pricing
- (23:49) - Final Thoughts on Price Increases
- (31:25) - Analyzing April 1st Metrics
- (32:14) - Client Churn and Acceptance Rates
- (33:56) - AIM Service Line Adjustments
- (39:55) - June 1st Metrics and Client Transitions
- (43:28) - Strategies for Managing Client Capacity
- (54:48) - Final Thoughts and Future Plans
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