Pricing an Engagement
The synergy between partners, marketing and BD can be powerful.
It is playing out in some unexpected ways as the roles of marketing and business development (BD) continue to evolve, particularly in firms that think in terms of long-range planning. In many of these firms, marketing and BD are included in the planning of strategic initiatives, including pricing. While the actual pricing of an engagement generally remains at the partner/consultant level, the firm’s marketing and BD professionals provide valuable insights that help guide the firm’s pricing strategy in specific industries and for specific services.
“Business development has a handle on what is going on in the marketplace. They are grounded in that reality because that is where they work every day. They understand what needs to go into the proposal and what the market will bear,” explains Danielle Eisenach, national director of business development education at BDO. “Marketing has a different role. Their role is to individualize the client in the proposal and highlight the client’s pain points. The goal is making the client understand that your firm is the most knowledgeable and best positioned firm to meet the client’s needs.”
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About Marsha Leest
Marsha Leest is the president of Marsha Leest Consulting where she uses her experience as a published author, editor and inhouse marketing director to help firms with ghostwriting and implementing strategic communication strategies that fuel growth. A member of the Accounting Marketing Hall of Fame, Marsha can be reached at 845.369.3224 or email@example.com.
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