Oct 21, 2019
Why you have to check out today’s podcast:
- Learn about the five interrelated elements of value creation
- Know how to build your communications strategy and messaging so your prospects and customers can see you, like you and buy more from you
- Understand why you need to work with your customers to understand what they value so you can match what you’re selling… to what they want to buy.
David Richards is the managing director at Talk about Value , a company that helps entrepreneurial businesses to accelerate their growth by designing, validating and communicating their customer-focused value propositions so they shine in a competitive marketplace.
Listen in to this episode, as he shares about the different elements of values that help in optimizing the price. With his relevant experience in the world of pricing and value, David surely articulated so well the important points we have to know about pricing and value.
“Find out what [customers] they’re willing to pay. Do as much as you can to understand your customers at a really deep level so that you can understand the value that you’re offering to them and then charge what you’re worth and value rather than necessary your time or your product.”
– David Richards
Get Accelerate Your Subscription Business: Your Blueprint to Packaging & Pricing for Growth Course at https://www.championsofvalue.com, Use the DISCOUNT CODE: ‘EARLYBIRD’, valid until October 31st, 2019.
Topics Covered:
01:11 - David Richards’ ambition: "My ambition is to put value at the top of the agenda in businesses. "
02:33 - What is Value all about according to David
04:45 - What are the ways you can create value
08:19 - What is in a Relationship Value
09:13 - Understanding Perceived Value
09:41 - Getting deeper with Experiential Value
11:04 - What help does his company Talk About Value provide
12:49 - Discussion around what segmentation is all about
14:14 - This thing called Value Conversation
15:49 - How to add value to the relationship
17::10 - All about Van Westendorp’s Price Sensitivity Meter, a market technique for determining consumer price preferences.
21:16 - Best pricing advice from David Richards
Key Takeaways:
“Value is in the eye of the customer, not in yours. They define what value is, not you. And I think it's really important that people understand that because too many times, particularly, my fellow marketeers believe that just saying what you sell is enough, what you need to do is to link that with what people want to buy.” - David Richards
“What is a good value for money? It's quite an interesting word. So, the way I like to describe it, mainly, is the activities you undertake that can add a benefit to the success of the customer that you're working with.” - David Richards
“If you want to be really successful, you need to be the best you can in each of the segments you're playing in and just trying to cover everything and never saying no is, is not a sustainable competitive advantage in my opinion.” - David Richards
Connect With David Richards:
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