Dust Design is a dynamic, young architectural practise with offices in London and Winchester. Anton Ambrose, MD and owner of the firm has grown the firm rapidly since inception in 2010.
Naturally, with the fast growth and continued investment required to grow the firm, the company faced cash flow difficulties and struggling for profitability in a competitive market.
Having forked out significant amounts on PR and marketing without seeing any return on investment, Anton chose to cancel the PR retainer and instead invested in our pricing training programme with a view to transforming his business profits.
Anton quickly started to implement the concepts we shared in the sessions on building your value, communicating your value and formulating that value in front of customers. He also saw the advantage and merit of having three packages for the customer to choose from thereby giving the customer control over the buying decision rather than impose a price upon them.
We helped Anton come up with three packages for their Stage 1 services to allow for different customers needs and requirements because every customer values things differently. It quickly became apparent that Anton could obtain better pricing using iterative digital pricing i.e using software to calculate the price of the three packages based upon the scope and preferences of each individual client. He engaged us to start working on building the software for him and together we came up with a model that can take into account different customers needs and wants together with building in additional costs for more complex customer projects e.g listed buildings etc.
The other advantage of having software to quote clients is the standardisation and ability for other team members to be able to quote for projects thereby taking the pressure off Anton to deal with all new business. And of course being able to give the customer a quote there and then rather than making the customer wait and committing the worst mistake of sending a quote in the post or by email.
Although early days, Anton has already seen his cash flow improve following implementation of pricing strategies around getting cash in faster and predicts at least a 20% increase in profitability from being able to quote different customers different prices using a software based approach.
The impact of this will enable him to work less hours in the business giving him more time to focus on strategy, adding new service lines to the business and pursue other lucrative investment opportunities.
Anton has this to say about us, “Learning about pricing with Reza has truly been eye-opening and had a direct impact upon our cash flow and profitability. We have a strong brand and are committed to delivering on cutting edge projects for our clients. Getting our pricing right will mean that we are profitable across all our projects whilst still delivering excellent value for our customers”.