Pricing: Probably Your Single Largest Lever To Improve Business Performance
Here is a 30 minute video on smart pricing strategies. If you ever feel that you are doing work for less than you are worth I really, strongly, recommend that you watch the whole thing. If you are reallly pushed for time, though, look under the video for the times of the highlights.
0:30 – Why pricing is such a poweful lever for improving performance;
03:30 – Why cost plus pricing and any variant thereof (chargeable hours or days, time & materials…) is the worst possible pricing scheme. How it nearly destroyed one business, and could do the same to yours.
12:00 – The big idea. Value. How to identify it, and how financial calculations and ROI justifications can often miss most of it.
18:00 – How customers actually assess prices, and how a bizarre experiment involving the Economist shows how this can be manipulated at will.
21:00 – Case study. How one business increased its revenues 5x with no new customers or products.
29:30 – For the very impatient; what to do next.
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