“The bitterness of poor quality remains long after the sweetness of low price is forgotten.” (Benjamin Franklin)
At the heart of every sound pricing strategy lie the actions that businesses take to understand and document value to their customers. Indeed, there is truth in the statement “when the value of an offering is clearly understood by both firm and customer, price is seldom a problem.” This session discusses the complications that arise when an organization tries to sell value in a market plagued by stubborn, cynical buyers. Specifically, it preaches to “keep calm and sell value,” a five-step framework that highlights remedies and invites several conclusions. Two stand out. First, a better understanding of what value actually means to customers, and how the business can be true to its promises, gives a sense of calibration and confidence that helps fight off the pressure from clients and competitors. Second, a better process to sell value quickly improves the performance of the firm–and this improvement is enduring.