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Beech House Projects :Ltd

Contact: DavidJC
Address: 35, Vermont Drive, East Preston, Littlehampton, West Sussex, BN161LG
T: 01902412147 | M: 07780604755
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General Business and Finance Adviser, non executive director

Listed in: Finance

How to Market “Cheap”

When you are starting out in business it can be difficult to get the marketing of your product or service right first time round. There are a number of marketing channels available to small business owners and these could include social media marketing, search engine optimisation, printed advertising as well as online adverts. A number of business start-ups operate within niche markets as this provides an easy entry point into sometimes crowded markets and a niche market is often more price sensitive than the more mainstream and longer established wider market. This is where it gets difficult. Do you shout about how cheap you and your business are? Or, do you persuade potential customers or clients that you are simply more affordable. There is a subtle difference between the two that can really pay dividends for you and your business if you get the marketing of “cheap” right.

 

To demonstrate the point to this article I will focus on online marketing for the professional services industry and reflect upon the experiences of a firm of cheap accountants. This is a great example of marketing cheap that can apply to any strand of professional services. I have chosen this particular group of businesses as it is certainly more difficult to market yourself as cheap when you want to also give the impression of the upmost professionalism. After all, most people are used to paying a premium to a professional expert and a lot of people may assume that you offer a lower-grade service if you’re cheap.

 

When marketing cheap and advertising your services as cheap you need to consider the psychological choices that are likely to be made by someone searching for a cheap professional. The individual in question may well type “cheap” into the search engine but he or she is unlikely to want to find what they associate with cheap. Cheap is often associated with an inferior service or an unqualified or unprofessional service. As I write this, the cheap services offered by Dr Nick (an inept physician from The Simpson’s) springs to mind as a great example. The searcher doesn’t want to find a Dr Nick but instead a more reliable professional who offers an affordable price.

 

With this in mind it is vital to get the wording right on the homepage of your website. You may feel compelled to mention cheap throughout your homepage or within the metadata section of your website with SEO in mind. However, this is likely to have very minimal or nil impact on your search results ranking and instead reinforce the wrong impression of cheap. By all means, target quality backlinks containing the word cheap as this will have some impact on the search results but limit the use of cheap on your homepage. Going back to the firm of accountants mentioned above: this company replaced cheap with the word “affordable” and placed emphasis on the fact that they offer a quality and highly professional service to clients at an affordable price due to the modern and unique online business model used by the company. This firm even took it one step further to explain that none of the expensive overheads associated with a traditional accountant apply to this company and these cost savings are passed on to clients by the way of reduced fees.

 

In summary, it is possible to market cheap and in turn to develop a very profitable business. The words you use within your marketing are key and particular focus should be given to the impression a member of the public receives when they click onto your homepage. Ask yourself if you come across as Dr Nick or do you come across as a trusted and highly professional outfit.

2016 Rate Rise? Impact on you and your business

Our accountants are currently forecasting a 2016 rate rise and you may have already read within the press that the Bank of England is expected to increase interest rates at the beginning of 2016. This is partly due to renewed growth within the British economy matched by stable job growth and wage increases. With this in mind it is very timely to consider what this means for you personally and what this may mean for your business.

First off the mark is the consideration of anyone with a mortgage (which I’m assuming is a large proportion of the UK population) and the potential impact of impending rates rises. There will be an impact on household budgets if rates do increase next year and those who may have stretched themselves with a mortgage debt may well struggle here more than others. I do suspect that a relatively small increase of 0.25% or even 0.5% will be absorbed well by the vast majority of households. However, this may not be the case if rates continue to rise over and above 1% or 1.5%. We shouldn’t forget that the base rate set by the Bank of England was circa 4% prior to the recession.

A second consideration is for any businesses who have taken out bank loans or overdrafts. Any variable lending is very likely to be impacted directly by an interest rate rise and this increased interest expense will need to be borne by the business. Business owners may benefit from sensitivity planning within forecasts to calculate the impact of increased interest payments on the bottom line and what this means for overall profitability. It will also be worthwhile reviewing and fully understanding any loans taken out to ensure that the impacts of a rate rise is fully understood.

Time to switch from the High Street Accountant

The website CheaperAccountant.co.uk was started a few years ago as an affordable alternative to the traditional high street accountant. The accountants behind Cheaper Accountant decided to take full advantage of modern technologies and to provide an online accounting service for small business clients and to charge very competitive fees.

This new and innovative business model serves the company well and does in fact allow prices to be slashed considerably below those charged by a traditional high street accountant. This model is simple and swaps an expensive high street office for a cost effective website with no need for an expensive receptionist and fancy decor.

Cheaper Accountant is the trading name of Tarpon Limited which is a company registered within England and Wales.

Have you tried a cheaper online accountant?

We created the website www.cheaperaccountant.co.uk to advertise our online accounting service which is targeted at UK small businesses with turnover under £750,000.

We offer a range of prices for one-off completion and submissions of annual company accounts and we also complete more regular monthly work for clients such as PAYE submission and VAT returns. In short, we offer a full suite of accountancy services to all of our clients.

Cheaper Accountant is known across the UK for excellent customer service and a quick response time when meeting client accounting needs.

Our business model is very simple and highly effective. We’ve reduced our costs as far as possible to offer all small businesses whether a limited company or sole trader very competitive rates.

So if you’re happy to ditch the fancy high street location, the polite secretary and the offer of a coffee on arrival in exchange for an efficient online service at a fraction of the cost then request a free quote from info@cheaperaccountant.co.uk today.