Value Based Pricing

A Step By Step Guide to Creating Your Value Based Pricing Strategy

How to Create Value Based Pricing

Value Based Pricing

Value Based Pricing - Pricing based on how much customers

will pay for your product

Value Based Pricing

Value based pricing maximizes your revenue,

Value Based Pricing

Reveals what your customers want

Value Based Pricing

And focuses your product on what your customer needs

Value Based Pricing

But how do you do value-based pricing?

Value Based Pricing

It’s a four step process

Value Based Pricing

Value Based Pricing Step 1:Find your buyer persona

(Most Important!)

Value Based Pricing

Buyer Persona: Fictional character

that represents your ideal customer

Value Based Pricing

Companies usually have multiple buyer personas

Value Based Pricing

Think about your personas’ needs and pain points

Value Based Pricing

Value Based Pricing Step 2:Survey your customer base

Value Based Pricing

Your customer base are those people who match your buyer persona

Value Based Pricing

Find out the features they value, and how much they

value them

Value Based Pricing

Value Based Pricing Step 3:Analyze your data and create

pricing tiers

Value Based Pricing

Look for patterns in the prices and features for each different

buyer persona

Value Based Pricing

Create different tiers of your service that match their

different needs

Value Based Pricing

Bonus: Tiers also let you charge different prices to customers who have different valuations for your service

Value Based Pricing

Value Based Pricing Step 4:Test and Review

Value Based Pricing

Pricing is a process!

Value Based Pricing

Customer preferences and tastes are constantly changing

Value Based Pricing

This means you need to continually collect data to track the changes

Value Based Pricing

Check the match between your tiers and your buyer personas

Value Based Pricing

For example, if small businesses are flocking to your enterprise tier, you

may need to rethink

Value Based Pricing

In the end, you can only charge what your customer is willing to pay

Value Based Pricing

But, value based pricing should be win-win: You and your customers should both be

happy!

Value Based Pricing

Download our free e-book to stop guessing, and start pricing intelligently.

Value Based Pricing

Download our free e-book to stop guessing, and start pricing intelligently.