Pricing on Purpose: The Eight Steps to Implementing Value Pricing 2024

Overview

Learn about selling intellectual capital with pricing based on outcomes and value added, rather than the cost or time it took to deliver. A business is defined by the value it creates for its clients; your price speaks volumes about your value proposition. An overwhelming majority of professional firms price their services by the flawed and outdated hourly billing method rather than realizing clients do not buy time; they buy value. Price is the marketing moment of truth and the number one driver of profitability in any business. Learn how to price on purpose.

Highlights

• First and second law of pricing and how they influence your pricing decisions • How the anchoring and framing effects influence pricing • What and how people buy • Handling price objections • Proper project management • Facilitating a pricing after action review • Importance of price psychology and emotions • Why your firm should offer a value guarantee • How hourly billing is a suboptimal pricing strategy

Prerequisites

None

Designed For

Owners, partners, managers or any executive responsible for pricing.

Objectives

• Identify how to have the value conversation with clients • Determine how to price the customer, not the services • Determine how to develop pricing and presenting options • Identify fixed-price agreements, pricing objections, project management, change requests, change orders and pricing after action reviews

Preparation

None