I saw a LinkedIn post from an accountant of all people provoking value-pricers with the following statement...
It goes without saying, but in order to "value price", it helps to actually deliver value...
So as someone who has used this method properly for the best part of several years let's break down what delivering value means. And clear up the provocation and provide some tangible value.
Pick up any modern pricing book and it will describe value in 3 ways: saving money, making money and emotional contribution. This is commonly referred to as 'The Value Triad'.
Saving money is tied directly to minimising your customers costs or clawing back profit (or savings). An example is a tax accountant or someone like me doing conversion services.
Making money is directly improving top line sales, may it come at a higher cost, it's relying on improving money in.
Emotional contribution can be tied to tangible or intangible contribution to your customer. For example, speed to checkout, improved delivery times or even an improved relationship.
There is your new framework for delivering value. Emotional contribution should be contextual for what you sell. It should be easy to list out those tangibles and intangibles. Otherwise what you're selling might not be that valuable.
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