Our pricing was something we spent a long time on when starting Nudge. It’s always import to find a balance between what customers are willing to pay for your product (i.e. what customers see as getting value), and what we need to charge in order to be able to cover our costs and be a profitable business.
So how did we choose our pricing structure? These are the steps we took:
Step 1 – Know your numbers
First up, being accountants, we did our numbers in order to really understand what our costs would be. Knowing your costs is the first step towards determining what your price should be.
Step 2 – Do your research
We also did a lot of research into what Chartered Accountants, Accountants and Bookkeepers were pricing for their services. This provided us with an understanding of how the market valued these services. However, offering a completely different all-inclusive package for Start-ups and Small Businesses, we didn’t have a direct price comparison.
Step 3 – Speak to your future clients
We also went straight to Start-ups and Small Businesses and asked them. This is what they told us:
We pulled all these steps together to come up with our pricing strategy. Read more about our pricing and packages here.
Photo courtesy of Microsoft Office