Memecast #58: Value-based Pricing is the Most Profitable Strategy
Impact Pricing · Mark Stiving, Ph.D.
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Show Notes
It's true, value-based pricing is the optimal pricing strategy. Value-based pricing simply means charge what our customers are willing to pay. If a customer is willing to pay us a hundred dollars, the best we could possibly do as a company is to charge that customer a hundred dollars.
If we charge less, we left money on the table. If we charge more, the customer doesn't buy. So, it's impossible to do better than value-based pricing.
Now, I'll agree, it's impossible to do value-based pricing perfectly, which we'll talk about next week. But understand, adopt the mindset of how is it that we can always focus on how much our customer is willing to pay, how much value our customer is receiving, and that's the absolute best we can do at setting and trying to capture pricing.
We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected].
Now go make an impact.
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