Been doing this 3 months in Allentown. PPL territory. I've been quoting 50% of savings for commercial audits but clients keep saying it's too high. Thinking about dropping to 35%. What's the sweet spot for closing deals?
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How to price your services for maximum conversions
I do 40% of first year savings in Columbia. Close rate is about 60%. The key is demonstrating value upfront. Send them a 2-page preliminary analysis showing potential areas before you even meet.
Pricing varies by market. Here in Spokane I can get 45% because there aren't many competitors. But I also offer a guaranteed minimum savings of $5000 or the audit is free. That closes deals.
Don't compete on price. I charge 50% and my close rate is still 70%. The difference is I only target clients with bills over $10K/month where I know I can find at least $3K in annual savings. Quality leads, not quantity.
Try offering different pricing models. I do 50% for comprehensive audits, but also offer $500 flat fee for basic rate schedule reviews. Sometimes the small engagement leads to the big one.
Here in Louisville I've found 40% is the magic number. Above that, resistance increases significantly. Below that, you're leaving money on the table. LG&E customers seem pretty price-sensitive.
I've tested everything from 25% to 60%. Sweet spot for Memphis market is 38%. But I also do a lot of education during the sales process about how utility auditing works. Most prospects have no idea what we actually do.