8 Different Ways to Bundle Your Services

Are you still charging for your services the same way you did back when you started your business?

When I started Festival Bookkeeping 8 years ago, I was easing my way into the business world and I stuck with what I knew about charging for services. I certainly spent time thinking about how MUCH to charge, but I played it quite safe with the pricing method I used, which was charging hourly.  Bookkeepers have traditionally charged their clients based on an hourly rate. They may charge a higher or lower rate based on the complexity of the work, however the concept remains the same.

I had also come from working in law firms where services were billed to the client based on the amount of time spent on the client’s file. So it was ingrained in me from early on – it was a comfortable way to charge, clients understood it and I didn’t think I needed to consider other options.

But of course – it was as case of “you don’t know what you don’t know”

It wasn’t long before I started coming across discussion around value pricing and fixed-fees. So I couldn’t ignore what I was reading and hearing, but I didn’t feel ready to start implementing any change for quite a long time.

Have you seen other businesses in the same industry as you that have started charging differently?

Have you seen businesses in DIFFERENT industries that charge differently to you – but it could work brilliantly for your business if you put some thought into it?

Limitations

What I found in my research was that there are quite a few limitations to the hourly pricing model, no matter what type of service-based business you’re running.

To name just a few – there can be a perceived lack of value by clients when you charge hourly. Your clients may question the amount of time spent on their work. It may cause cashflow difficulty for your clients due to there being no predictability around your fees.

A better way

One of the pricing models adopted by many service-based businesses is to bundle their services. So either moving away from the hourly model completely – or adding bundling to their existing pricing model. It can be a great strategy to offer more value to your customers and to increase revenue.

8 different ways to bundle services

Here are some examples of how you can bundle up services:

1. Basic, Standard, and Premium Packages: Create tiered packages that offer increasing levels of service or features. For example, a web design agency could offer packages with varying numbers of pages, customization options, and additional services like SEO or content creation.
   
2. Starter Kit Bundle: Combine essential services or products into a bundle for customers who are just getting started. For instance, a photography studio could offer a bundle that includes a photo session, prints, and a personalized album.
   
3. Consultation and Implementation Bundle: Provide a combination of consulting and implementation services. This could involve offering strategic advice or planning sessions followed by the execution of those strategies. An example could be a marketing agency providing consultation on marketing strategies and then implementing them across various channels.
   
4. All-In-One Service Bundle: Offer a comprehensive package that includes multiple services related to a specific need. For instance, a wedding planner could bundle services such as venue selection, catering, decoration, photography, and coordination.
   
5. Training and Support Bundle: Combine training or educational services with ongoing support. For example, a software company could bundle software training sessions with a support package that includes phone and email assistance.
   
6. Subscription Bundles: Create subscription-based bundles that offer different levels of service or access. This could be a monthly or annual subscription that includes varying features or benefits. For instance, a fitness studio might offer different membership levels with access to different classes, personal training sessions, or exclusive events.
   
7. Seasonal or Event Bundles: Create bundles tailored to specific seasons or events. For example, a spa could offer a holiday package that includes a massage, facial, and a gift set.
   
8. Add-On Bundles: Offer additional services as add-ons to existing services. For instance, a cleaning service could bundle carpet cleaning, window washing, or upholstery cleaning as optional extras.

Has the above list got your mind ticking over as to what might work for your business?

What can you do to make your pricing more appealing to your customers?

Can you charge more by being creative?

It might be the case that your income has stagnated, client enquiries have slowed down or you want to ensure you’re projecting a forward-thinking business that is keeping up with those at the forefront of your industry.

It could just be the perfect time to start implementing bundled services in your business.