Why talking about your value results in selling more, selling more profitably and gaining customer loyalty. David Richards
Customer value is what differentiates you from selling a commodity, we all want to position our products and services so prospects want to buy them. But what re the factors you need to consider to achieve this.
By focusing on value, you’ll avoid getting into a pricing war and will be able to increase your customers’ willingness to pay for your products, services or professional expertise. Also, you’ll stand out from your competition, solve your customers’ problems and therefore gain their loyalty over the long term.
So rather than second guessing what customers need, you need to know what they want to buy. This means focusing on the customer gains you’ll be offering and the customer pains you’ll be taking away to make their jobs easier. This customer-focused approach is sometimes called ‘outside-in’ thinking. This contrasts with staring out of your office window doing inside-out thinking!
Value propositions are the basis for your business success and a vital part of a coherent business and marketing strategy.
David Richards, founded Talk about Value Limited, to help business owners grow their revenues more successfully and profitably by enabling them to create, validate and then communicate their real value, so they stand out in a competitive marketplace.
On this edition of Business Connections Live, David will show you:
- Living in the “Age of the Customer”
- What is value?
- What different sources of value are there?
- How do you build a compelling customer value proposition?
- How value and price are linked
- How value and loyalty are linked
Learn the business fundamentals on:
- How buyers today have colossal power and research the marketplace online before approaching supplier
- Value, like beauty, is in the eye of the beholder. Your customers define your value, not you!
- There are five primary sources of value that suppliers can communicate
- Customer insight is the key to creating a compelling value propositio
- Value influences the prospect or customer’s willingness to pay
- Delivering genuine value will result in sustainable customer loyalty
Website – https://www.talkaboutvalue.com/
Twitter – @ValueAbout
LinkedIn – David Richards
So how to improve your pricing strategy? For many businesses, they find themselves in the dilemma of how to price the product and services they offer. Getting this wrong can have a catastrophic effect on the profitability of the business. On this edition of Business Connections Live, we explain the basic principles that any business can apply to their pricing strategy to increase profits and help their business grow.
Watch the show How to improve your pricing and increase profits with Mark Peacock