Ultimate Value Based Pricing Strategy Guide
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Value Based Pricing A Step By Step Guide to Creating Your Value Based Pricing Strategy How to Create Value Based Pricing
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Pricing is one of the worst and one of the best things to ever happen to your business. It's the worst, because the concept isn't easy to master, nor is it a core competency for many business folk. It's the best, because once you become even adequately proficient with pricing, you'll see major gains in revenue. In this deck, we provide more resources on specifically how to implement a value based pricing strategy.
Transcript of Ultimate Value Based Pricing Strategy Guide
Value Based Pricing
A Step By Step Guide to Creating Your Value Based Pricing Strategy
How to Create Value Based Pricing
Value Based Pricing
Value Based Pricing - Pricing based on how much customers
will pay for your product
Value Based Pricing
Value based pricing maximizes your revenue,
Value Based Pricing
Reveals what your customers want
Value Based Pricing
And focuses your product on what your customer needs
Value Based Pricing
But how do you do value-based pricing?
Value Based Pricing
It’s a four step process
Value Based Pricing
Value Based Pricing Step 1:Find your buyer persona
(Most Important!)
Value Based Pricing
Buyer Persona: Fictional character
that represents your ideal customer
Value Based Pricing
Companies usually have multiple buyer personas
Value Based Pricing
Think about your personas’ needs and pain points
Value Based Pricing
Value Based Pricing Step 2:Survey your customer base
Value Based Pricing
Your customer base are those people who match your buyer persona
Value Based Pricing
Find out the features they value, and how much they
value them
Value Based Pricing
Value Based Pricing Step 3:Analyze your data and create
pricing tiers
Value Based Pricing
Look for patterns in the prices and features for each different
buyer persona
Value Based Pricing
Create different tiers of your service that match their
different needs
Value Based Pricing
Bonus: Tiers also let you charge different prices to customers who have different valuations for your service
Value Based Pricing
Value Based Pricing Step 4:Test and Review
Value Based Pricing
Pricing is a process!
Value Based Pricing
Customer preferences and tastes are constantly changing
Value Based Pricing
This means you need to continually collect data to track the changes
Value Based Pricing
Check the match between your tiers and your buyer personas
Value Based Pricing
For example, if small businesses are flocking to your enterprise tier, you
may need to rethink
Value Based Pricing
In the end, you can only charge what your customer is willing to pay
Value Based Pricing
But, value based pricing should be win-win: You and your customers should both be
happy!
Value Based Pricing
Download our free e-book to stop guessing, and start pricing intelligently.
Value Based Pricing
Download our free e-book to stop guessing, and start pricing intelligently.
