On Thursday March 21, Ibbaka will host the second Value Innovation and Pricing Vancouver MeetUp. Register to join us at VentureLabs on the 12th Floor. Our theme is Case Studies. This was one of the most popular ideas from the first MeetUp back in January.
We have two compelling case studies lined up. The first will be presented by Brian Kahnert and will function as a great introduction to Economic Value Estimation. This is a framework developed by pricing leader Tom Nagle that is widely used to understand the economic impact of a solution on a customer’s business relative to the alternatives. Brian’s approach combines deep insights into buyer economics and psychology. The case study looks at a precision agriculture solution and how an understanding of economic value changed customer targeting and pricing. The case study will give you a good initial understanding of …
Why Economic Value Estimation (EVE) is central to product development, marketing and pricing
How to approach the research needed to build a meaningful EVE
Applying insights from EVE to target markets, value communication and of course pricing
The second case study will be presented by Karen Chiang, managing partner and co-founder at Ibbaka. Karen will focus on the close connection between innovation and pricing. The iconic London business publication The Financial Times engaged Ibbaka to find new ways to price its B2B offerings. The Financial Times already had a very successful B2B package, one that was driving revenues and readership. Read managing director, Caspar de Bono’s description of how Financial Times developed their strategy.
The strategy has been very successful but Caspar was very aware that the best time to develop a new strategy is while your current one is still working. One area he wanted to innovate on was the pricing metric. Basically, he wanted to find a pricing metric that would help to differentiate the consumer offer from the business offer and that would better convey the value of the business offer.
To do this, Ibbaka worked with a broad group of stakeholders at the Financial Times to identify the critical vectors for innovations, map these to different pricing strategies, and then make a choice on which of the innovation vectors to pursue.
This case study will give you a good introduction to …
The concepts of value metrics and pricing metric
How a pricing metric can be used to differentiate offers for different target segments
The connection between value metrics, innovation and pricing metrics
We should have a rich set of conversations on March 21. We see this as a contribution to building the Vancouver innovation economy.