How you communicate price is often just as, if not more, important than setting price. When the customers hear price, that is when they fully understand the value being delivered.
- After you set the price of your product or service…you have to communicate it in an effective way…that supports your overall strategy.…A simple framework for this is…answering the questions: Who, what why,…when, and where?…Your target audience, of course,…is who you want to communicate to.…But it's more than just potential customers.…You also want to make sure your partners,…such as distributors understand your pricing structure.…Generally speaking, you want to make your prices…available to the public, including competitors.…
Hey, they may be setting their prices based on yours.…What you communicate about pricing…is much more than just the dollar amount.…When a customer first sees the price,…that's a critical time to remind them…of the value they're getting for their money.…Be sure to tell them about any discounts that might apply,…or any other terms and conditions,…such as shipping and handling charges.…You want customers to have a complete and clear picture…of your pricing.…
Hey, if they're confused about something,…
Drew explains how to think about price when it comes to B2B business transactions-and understand the important relationship between cost, price, and value. He also shows how to define value, identify stakeholders, and link pricing to your overall marketing strategy. Plus, learn to use tools such as the value ladder and pricing tiers to gain leverage in price negotiations.
- What is B2B pricing?
- Defining value
- Linking marketing and pricing
- Creating pricing tiers
- Managing pricing competition