Value base pricing is a revolutionary idea where sellers are able to price their product or service, based on the buyers perceived value. Kirk Bowman is a very successful entrepreneur who has mastered this principle and adopted it in his organization. Over the space of two years; Kirk saw a 79% increase in revenue. This concept will aid any seller and business owners as they grow their business.
Here are some of the take aways from our discussion:
- Value is subjective based on the prospects/clients and this is why it is so important to understand their individual need.
- The only way to truly gage prospects/clients perceived value is to ask the appropriate questions. Here are some of Kirk’s favorites:
- Why are you doing this project now as oppose to 6 months ago or 6 month from now?
- What’s going to happen if you don’t do this project?
- If money were not an object, what would the success of this project look like? Describe it to me?
- Create a list of questions you can turn to when speaking with prospects/clients. This should not be a script, but a tool to help you know some of the key questions that should be brought up in the conversation, to better extract the true value from the prospect/client.
- Kirk also emphasized the importance of building relationships with prospects/clients. This will help them to feel comfortable enough to share with you their true concerns. This is also very important as you try to help them understand the true value for themselves.
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