In a previous post (Be Better, Not Cheaper) I talked about the importance of differentiated value. I have conversations about value almost as often as I have conversations about pricing, because a lot of pricing confusion is really value confusion. If you don’t know what your value is, it’s hard to put a price on it.
Part of the challenge is going from “inside-out” thinking that focuses on your company, to “outside-in” thinking that focuses on what customers care about. From a customer’s perspective, the price of your offering may only be a small part of a much larger value equation. It’s easy to get hung up on the price (and offer deep discounts) without addressing the real issues that can hold up a sale.
Now Sales Compass includes the ability to map out the value you provide. If you don’t have a Value Framework for what you sell, go in and create one (or more). Show it to your colleagues and discuss. I bet it clarifies a lot of pricing issues.
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