Transitioning client from hourly to project billing

Has anyone successfully transitioned a long-term client, who is accustomed to hourly billing, to project-based/value-based billing? I have two long-term clients for whom hourly billing has actually been good for a long time, since their projects are often poorly defined. But the nature of my work with them is changing and so how I bill needs to change as well.

What I'm really wondering is how to frame the switch to them. How to get them comfortable with the idea and a slightly different process.

Thanks!

  • In my experience, you just need to explain that a flat project fee makes it easier for everyone:

    * Your client knows exactly how much to budget for the project, and that the flat fee prevents cost overrun - this is music to the finance director's ears.
    * You know exactly how much to bill, so you can prevent any disputes in advance.

    Obviously you need to practice and polish these points for your own situation, but when used together they are very powerful.

  • In my experience, you just need to explain that a flat project fee makes it easier for everyone:

    * Your client knows exactly how much to budget for the project, and that the flat fee prevents cost overrun - this is music to the finance director's ears.
    * You know exactly how much to bill, so you can prevent any disputes in advance.

    Obviously you need to practice and polish these points for your own situation, but when used together they are very powerful.