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2 minute read
Value-Based Pricing: Drive Sales and Boost your Bottom Line by Creating, Communicating and Capturing Customer Value.
Authors: Harry Macdivitt (Author), Mike Wilkinson
Why would you choose Brand X over Brand Y, with price not being an influence? Value
When customers perceive they are receiving good value from your product or service, they are willing to pay a higher price. Even in today's highly competitive market and lower-cost alternatives, you still can outperform and outsell when using the strategy of value-based pricing.
Value-Based Pricing by Harry Macdivitt and Mike Wilkinson is an indispensable resource that delves deep into the principles and practices of value-based pricing. This comprehensive guide offers actionable insights and practical frameworks that can transform how businesses approach pricing strategies. Value-based Pricing identifies three basic elements of the Value Triad: revenue gain, cost reduction, and emotional contribution. Delivering these core values to your customers through marketing, selling, negotiation, and pricing, you can expect an increase in profits.
Throughout the book, the authors emphasize essential elements for effectively communicating value and generating profits:
- Understand your customers’ wants and needs
- Focus on what makes your company different
- Quantify your differences and build a value-based strategy
- Communicate your value directly to your customers
Many readers may wonder how to determine what their customers value the most. PriceBeam assists organizations in uncovering the true value of their products or services and identifying the features that customers value most. This enables more effective communication tailored to the wants and needs of their customers.
Conclusion
"Value-Based Pricing" is not just a theoretical exploration; it is a practical guide filled with actionable steps, checklists, and frameworks that professionals can use immediately. The authors' clear and engaging writing style makes complex concepts accessible and easy to understand, ensuring that readers can apply the insights to their own pricing strategies.
This book is perfect for sales and marketing professionals seeking to understand how to create and communicate value through effective marketing messages and sales strategies.
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Reviews
The Authors
Mike Wilkinson for more than 25 years focus has been on value and value selling. Helping people Understand, Communicate and Deliver great customer value - and get paid for it - is the focus of everything I do. Mike works with Sales Directors/Sales V.P.'s and sales professionals, helping them and their teams become increasingly comfortable and confident talking about value, and improving their margins and profitability.
Harry Macdivitt: “A poor selling process means that the correct decision makers never hear the value proposition. The people who do—usually the procurement team—may well claim not to care about value, only price". Harry works globally with corporates in technology-based enterpises. Specialties: Usually pricing problems are actually value problems! Because companies have not identified customer value they fail to deliver it.
