Jan 28, 2019
Why you have to check out today’s podcast:
- Learn how Kirk learned about the concept of value pricing
- Identify the two categories in measuring results
- Find out details about Kirk’s pricing consultancy company and his podcast
Summary
Kirk Bowman is the founder and Visionary of Value and the Art of Value, a pricing consultancy in Dallas, TX. His podcast, the Art of Value Show, is one of the most shows for knowledge professionals. He has spoken at numeration conferences on pricing including QuickBooks Connect and Scaling New Heights. In 2011, he was appointed a Practicing Fellow at the VeraSage Institute, the think tank founded by Ron Baker. His software company, MightyData, was featured in the book Implementing Value Pricing.
In this episode, Kirk tells about value pricing, how he was introduced to it and later switched to this method in estimating and billing customers. Be inspired as he shares how this decision increased his revenue over 50% on the first year and 70% on the second. Learn this and more in his journey on value pricing.
"The next time the
customer asks for a lower price, turn around and ask them what
value they are willing to do without in order to get that
price."
- Kirk Bowman
Stay updated on all thing pricing.
Subscribe to 'The Pricing Perspective' here
Topics Covered:
01:36 – Kirk discovers value pricing and how his revenue went up to 70% in his second year after shifting from hourly billing
03:40 – The concept of value pricing and how it aligns the interests of the professional with his customer
07:13 – Two categories in measuring results or outcomes and how they differ
12:11 – Sharing the profile of his pricing consultancy company - Art of Value and how it is helping professionals with their business models
14:32 – His podcast – Art of Value and the reason he loves doing it
19:37 – His pricing advice that has a significant impact
Key Takeaways:
“Our goals as suppliers are not aligned with the goals of our customers.” – Kirk Bowman
“The customer's interests are the most important thing. When you align with that, you're lining things up for success.” – Kirk Bowman
“It's so important to put alignment up front as one of the things that you're striving for and keep your eye on at all times because it is in our human nature to focus on our own self -interest and so the focus on theirs, it requires intentionality. It requires strong character.” – Kirk Bowman
“Value and pricing are subjective, and by the way, that's okay.” - Kirk Bowman
Connect with Kirk Bowman:
Connect with Mark Stiving