In the Win Without Pitching Workshop you heard me say that I think the ability to navigate the value conversation is the most valuable skill in all of business. Then we gave you the framework, a few hours of practice and we sent you on your way. Don’t worry if you haven’t mastered this important
Win Without Pitching®: Thinking
The value conversation is where value pricing theory goes to die. The difficulty in mastering this conversation is what causes most people to give up on value-based pricing completely and revert back to selling time and materials. It needn’t be so difficult, though.
Five options to consider the next time you find yourself in a situation where you think you must cut price…
We’ve gone from an era where creative firms never published their pricing on their website to one where, while it’s not common, there’s a bit of a trend toward it among certain types of firms.
There are right and wrong reasons to disclose your pricing on your website and right and wrong methods of doing so.
Do you know the one key to being a better pricer? It’s the ability to have a good conversation. Pricing success really does come down to your ability to encourage and navigate respectful dialogue.
Should you be pursuing as much as you can get from your clients or should you be driven by the idea of a “fair” price? Many economists would say that any price paid is by definition a fair price otherwise the buyer wouldn’t pay it. They’re wrong.
It takes a lot of work in fact to generate a steady stream of good referrals and it’s no surprise that very few firms ever get to this place where the business is sustained and growing entirely by doing great work for good clients and systematically asking for and following up on referrals. It is however the highest form of “marketing” that we should all aspire to.
I’m pretty sure I can show you the levels of financial success you’ll move through in your career. I can’t predict how far you will go, but by reading the descriptions of the levels you’ll be able to see where you are on the journey and what lays ahead.
Some of the core WWP principles include delivering a minimum level of engagement or otherwise talking money early…The direct conversations around money reduce the likelihood that you’ll be scuppered later in the deal by financial objections that could have been uncovered early, and behavioural concessions extracted from the client are indicators of your likelihood of winning the business.
When selling time you tend to strive to a consistent level of profitability across every project. When selling value, your profit measurement focus should broaden out to make sure the entire relationship is profitable, accepting that some projects will be wildly profitable and others less so, even allowing some smaller projects to be unprofitable.
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