Boost your Pricing Power with Strategic Value Selling
In a dynamic environment, many companies are faced with increasing cost and price pressure. However, companies which offer unique added value in their customers´ eyes still manage to achieve above-average profits. They are successful, because they have 'pricing power' - their customers are prepared to pay higher prices and don´t immediately change providers when prices are increased. Pricing power can be systematically built through Strategic Value Selling. Strategic Value Selling goes beyond 'classic' Value Selling. Starting with a company's business model, it considers the entire marketing and value creation process that precedes the sales conversation. Thus, the company creates a basis on which the salesperson can build to develop unique solutions with measurable added value together with their customer partners. Strategic Value Selling comprises the following core steps Continuously evolve your business model as a foundation for value creation A company's business model is the foundation of its pricing power. A business model describes how value is created and monetized for defined target groups. The Swiss medium-sized company Bossard has continuously evolved its business model: From a supplier of 'interchangeable' C-parts, the company has transformed itself into an 'indispensable' service provider that optimizes its customers' processes. This measurably reduces their 'total cost of ownership'. Based on the resulting savings, Bossard implements value-based pricing.