How to structure products for consulting services sold?
SOLVE
Hello,
We are a consulting firm and I am trying to figure out the best way to utilize products for our service offerings. I'll do my best to describe the nuances of our business/pricing model and hopefully convey my point accurately.
We have three different consulting services - I'll call them A,B, and C.
We quote/sell our services as a fixed price.
For each of those services offerings, we can perform them on-site with clients, or remotely.
We price based on the expected number of hours to complete the service. (AKA: every client has a different quoted amount)
Travel time and Professional time have different costs and "retail" rates.
A quote (drafted in another tool) from us might look like this:
(What Client Sees)
(Internal Pricing)
A - $15,000
Professional - $13,000 (65 Hours)
Travel - $2,000 (20 Hours)
B - $6,000
Professional - $6,000.00 (30 Hours)
C - $15,000
Professional - $13,000 (65 Hours)
Travel - $2,000 (20 Hours)
I know that I could do the following with my products:
A - Professional - Cost: $50 - Retail: $200
A - Travel - Cost: $30 - Retail: 100
And then just throw the number of hours as quantities in the deal.
My fear is that reporting will not show that on Deal "XYZ" I sold one "A" for $15,000... it would show I sold 65 "A-Professional" and 20 "A-Travel" for a total of $15,000.
While my cost and retail would match, the reporting would not be accurate.
Any advice on how to structure my products so that reporting shows the way I want to?
How to structure products for consulting services sold?
SOLVE
You can just have a property on the deal called "Product Type" with the options Product A, B, C.
Then you can just have a deal report show count of deals by product type.
Or, if you use the HubSpot products you could just have a product for A, B, C and then in the deal you can have a property for professional hours, and travel hours which calculates the amount. Then when quoting you can just select Product A and then change the line item price to the amount on the deal - but it will only have 1 line item.
The report will be the same, it will only show 1 deal closed with the specific product type (in this case A.)
How to structure products for consulting services sold?
SOLVE
Structuring your consulting services for accurate reporting can be tricky, especially when breaking down costs into professional and travel time. One approach you might consider is bundling your services into a single product line item while still maintaining internal breakdowns for cost tracking.
For example, instead of listing each hour separately, you could create a parent product for each service (A, B, C) with a total fixed price and then use sub-items or custom fields to track the internal breakdown of professional vs. travel time. Some CRM and accounting tools allow for hierarchical product structures or custom reporting fields, which might help present data more accurately in reports.
If you're looking for more tailored advice on optimizing your system, I’d recommend checking out it services consulting to explore solutions that align with your business needs.
How to structure products for consulting services sold?
SOLVE
You can just have a property on the deal called "Product Type" with the options Product A, B, C.
Then you can just have a deal report show count of deals by product type.
Or, if you use the HubSpot products you could just have a product for A, B, C and then in the deal you can have a property for professional hours, and travel hours which calculates the amount. Then when quoting you can just select Product A and then change the line item price to the amount on the deal - but it will only have 1 line item.
The report will be the same, it will only show 1 deal closed with the specific product type (in this case A.)