When using Bulk Adjustments, there are 2 main steps.
Step 1 - Adjust your Pricing Menu
Update your prices first, which is covered in our Bulk Adjust Pricing in Socket guide.
Step 2 - Applying this Pricing change to affected Proposals in bulk
Watch our Loom video run through or follow the steps below.
Creating the Bulk Adjustment
For Pricing changes to multiple clients with active proposals*, you’ll probably want to make use of the Bulk Adjustments feature and move these clients on to your new pricing, meaning you won't need to update each proposal manually.
From ‘Home’ and click on the 3 dots in the top right hand corner and select ‘Bulk Adjustment’.
Give it a clear name and description, like "Inflationary 2024 Increase" or "Oct 24 Software Adjustment."
Define which proposals the price change applies to by selecting active proposals that that started on or before a certain date. If there are clients who’ve recently signed or have already been updated, then you can exclude them from this price change.
Like in the below example, by picking December 2023, I'm including any existing clients who’s proposals started before this date, and therefore excluding any that have become a client in 2024. I want the bulk adjustment to take effect in November 2024, so I've picked this as my starting month.
Once you’ve selected the dates, click ‘Find proposals to Adjust’. You’ll then be presented with a list of Proposals within this date range.
*Any imported Proposals from another system will be excluded from the bulk adjustments process, you’ll be notified of the number excluded on screen.
⚠️ "No proposals found"
If Socket tells you there are no proposals in scope, work through these in order.
You have already adjusted them. If you have run a bulk adjustment for these clients once, they are already on the new pricing and will not be picked up again. Check your proposals for draft minor adjustments waiting to be finalised before starting over.
Your scope date is too early. The date means proposals that started on or before it, so a date in the past picks up your oldest clients and excludes recent ones. If most of your proposals started in the last few months, pick a date after they started, not before.
Your new pricing isn't published yet. The adjustment works from a published menu. A future dated menu still needs publishing to become Active, so check yours isn't sitting as a draft.
The services you changed aren't on those proposals. Only proposals containing the service lines you actually changed are picked up. If you only changed your Xero recharge prices, only clients paying for Xero through you will appear.
The proposals were imported. Proposals brought in from another system are excluded from bulk adjustments.
Selecting Client Proposals to Exclude
At this point in the bulk adjustment process, you can review the list of Proposals and exclude any that it doesn’t apply to. Just tick the proposals you don’t want to adjust, so they turn red and their pricing will remain unchanged.
Most of the proposals will be able to be updated automatically, with Socket applying the price changes to each one.
"Pricing needs to be fixed manually"
Some proposals may show a warning triangle with a message that the pricing needs fixing manually. This does not mean you have to go and rebuild the proposal yourself.
Click the warning icon and Socket will let you migrate the pricing there and then, inside the bulk adjustment.
The warning appears where something about that service has changed between the old menu and the new one, so Socket can't match it up on its own. Usually that means the service has been renamed, removed, or its drivers have changed. Clicking through lets you tell Socket what it should now map to.
Work through the warnings rather than cancelling out of the adjustment. Cancelling part way through leaves some clients adjusted and some not, and starting again will not pick up the ones already done.
Some clients may also have bespoke pricing agreements that shouldn’t be affected by this adjustment. Socket makes it simple to handle these situations in the next screen.
Once you’ve chosen the proposals that require the new Pricing, click ‘Draft Minor adjustments’ and Socket will start migrating them to the new Pricing Menu that is appropriate for the start date of the Bulk Adjustment.
Reviewing the Adjustments
From this page, you can extract a Proposal from the Bulk Adjustment process, for you to 'Handle Manually'. This might in case you’ve got some particular clients you’d like to deal with on an individual basis.
When reviewing the draft adjustments, just click on the 3 dots to the side of the Proposal and click ‘Handle Manually’. This removes the selected Proposal, and leaves the remaining ones for you to continue on with.
After making any necessary tweaks, review the impact on your revenue. You should notice an increase in your monthly recurring revenue once the new pricing takes effect!
Click on Next step to finalise the bulk adjustment and chose how to notify them.
Finalising and Notifying Clients about the Price Changes
Socket gives you a few options depending on how you’d like to handle this.
Chose 'No email' option to update client proposals without sending an email notification, allowing the new pricing to take effect quietly. This might be the best choice for small adjustments or when you’ve already discussed the changes with clients directly.
For 'Email +Change Summary' - The Proposal Introduction wording can be edited here for all the Bulk Adjustments, this is the wording the client will see when they click on the link that's been emailed to them, notifying them of the changes.
Additional Customisation gives you the option to hide or show the line prices, for each of the services. Also, you can chose to display the proposal lines in different ways; Detailed, Title Only, or by Section. Settings chosen here will override any settings already configured at Practice level.
When you're ready, click Finalise and Send to notify your clients in bulk. Whether you're updating five clients or five hundred, the process is quick and ensures everyone is informed at once.
