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Have you ever worked with a customer who could not see the value that your products or service provided? Value is relative. Value is in the eye of the beholder. Although value is often view as a measurement of price, different people value different resources… time, money, status and more.
Value-based pricing is about basing price on the benefits perceived by the customer instead of on the exact cost of the product. People who value their time are more willing to pay for convenience. Have you ever paid for food delivery? People who value their money are willing to spend the time to save it. Have you ever driven an extra mile out of your way to save .01-.02⍧ a gallon on gas? You know what I am talking about?
There are three core value propositions
- It Saves Time
- Has an ROI (return On Investment)
- The Combo Platter (Low Price & Convenience)
In this episode, we will explore what values means to your customers, how to get them to tell you what they value, and how to deliver it!
