There are a myriad of pricing approaches, from value-based pricing, price skimming and cost-plus pricing, to market-based pricing and captive pricing….. We help you identify the one that’s right for you – aligned with your business goals and with practical guidance on implementation 

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Many start-ups have a product or service that is new to market, so is hard to price benchmark. We can take you through the process of setting a price that reflects true value without impacting early sales.  This may include a strategy for the pricing structure, eg: instead of just ‘price per unit’, is it more appropriate to charge per user, per licence, by monthly subscription, by service bundle, etc?   (More below)

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Pricing structure can be as important as the price itself. In the early days of mobile phones for example, customers were nervous of bills charged by minute of usage, preferring a fixed monthly fee, with no usage limits or nasty surprises, even if it meant paying a little more. That certainty through the price structure delivered value in itself.  Instead of just following existing pricing models, we can help you think outside the box about the optimal structure, aligned to value perceived by the customer

Setting pricing is not a one off exercise, it is a continuous process. The frequency and  effort depends on the industry as do the skills, resources, tools and procedures required. We can benchmark your pricing capabilities and resources against best in class, identify the shortfall and the profit/benefit of closing that gap, then provide the road map to get you there

Many businesses see significant profit upside from simply implementing good controls and visibility around pricing processes, for example: setting discounting guidelines, pricing KPIs and analytics to measure compliance and success. We can coach you through the process of developing these tools and overcoming any internal resistance to change 

Our work often involves customer research, to establish willingness to pay (especially for new products), most appealing price structure, satisfaction with existing price mechanisms or reaction to proposed changes, etc.  We have conducted hundreds of pricing studies, using techniques that get closer to the truth of what customers really think, rather than the usual knee-jerk reaction of ‘I want it cheaper!’  Where appropriate, we will recommend and commission such studies, providing important insights to inform your pricing strategy

Pricing is not the role of one individual – most departments have an impact on or are impacted by pricing. We have developed and delivered many customised training courses, aimed at giving cross-disciplinary teams a common understanding of the pricing challenges faced by their business – this often leads to greater engagement in implementing solutions. 

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Many of our services conclude with a realistic action plan for implementation. To ensure your success, if needed we can also provide ongoing coaching/mentoring to ensure you stay on track and achieve your pricing goals.  Sometimes it helps to have an objective resource, guiding you from the side-lines and chivvying when needed!