Common Pitfalls of Value Pricing and How to Avoid Them
Many B2B companies are embracing value-based pricing due to its large potential to increase profitability, yet many of these companies struggle to achieve these profits. They may start out strong, achieving price increases for a few products, but ultimately have difficulty getting their organizations to embrace, implement and/or sustain the value-based pricing journey.
In this session, Joanne will share her insights on common pitfalls that she sees numerous B2B companies fall into as they begin their value-based pricing, marketing and sales journeys.
Joanne will cover…
- Common value-based price setting methodology and tactics that hinder your ability to effectively quantify your value and value-price.
- Widespread scenarios where teams do not effectively use value-based pricing content in their value marketing, selling and negotiations.
- Frequently seen obstacles to sustaining the value-based pricing transformation.
Approaches to overcome these value-based pricing pitfalls.
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Joanne Smith, President of Price to Profits Consulting, is the author of The Price Negotiation Playbook and The Pricing and Profit Playbook. She is the former DuPont Corporate Head of Marketing, Pricing and Customer loyalty. Joanne transformed DuPont’s pricing from weak to outstanding. With more than 20 years of global business, marketing, sales and pricing expertise, she now works with B2B companies - around the globe - training sales organizations and helping businesses develop world class pricing and profit strategies. Joanne is on the faculty for the Professional Pricing Society (PPS) and The Institute for the Study of Business Markets (ISBM) and is a frequent speaker at business conferences. She is best known for her practical, pragmatic approach and her ability to build courage, confidence and conviction in businesses/commercial teams to take bold pricing actions. During Joanne’s over 20-year career at DuPont, she managed several businesses, ran several manufacturing operations and lead internal business/marketing consulting teams.