Accelerate business growth with Ibbaka’s Value Pricing Dashboard
Karen Chiang is a Managing Partner at Ibbaka. See her Skill Profile on Ibbaka Talent.
Last week, I asked, “Is your sales team blocked on positioning value?”
To build a value-based culture, you need to make sure that your sales team is prepared and ready to execute on your value-based pricing strategy. In our line of work we often find that sales teams are unable to transparently position and communicate the differentiated value of the offer they are trying to sell. They also feel poorly supported in doing this. If people are not comfortable positioning price in the context of value it is difficult to win sales without discounting and to build the value of the business.
Pricing is where all marketing and sales efforts are truly tested. It is the key metric that drives other economic measures. Lifetime customer value (LTV), revenue (including ARR if you are SaaS based), and profitability all depend on your pricing. There is an intrinsic relationship between value and price.
Business turns around the value cycle of Value Creation, Value Communication, Value Delivery, Value Documentation and Value Capture through price.
By getting a fair price for the value created for the customer there is a surplus created that can be reinvested in innovation to keep the value cycle turning.
The Ibbaka Value Pricing Dashboard is a software as a service (SaaS) application to help businesses quantify and illustrate the value that they deliver to their customers and to tie value and price together. Businesses launching innovations can remove the friction of communicating value in a way that can be well understood by customers. The Value Pricing Dashboard provides both a vendor (company) view and a customer (buyer) view. Buyers benefit by understanding what value they are getting and how this is growing in over time.
“Ibbaka’s approach to value-based pricing has transformed how we go to market, providing us a new growth model and the pricing model to support it. They help guide our own innovation by connecting price to value.”
— ROBERT M. HOEHN, CEO & CO-FOUNDER, IDEASCALE
It is not enough to communicate value through sales and marketing. Value communication, delivery and documentation has to continue across the customer journey. The Value Pricing Dashboard connects value and price across the customer journey. The results is
Pipeline conversion ratios improve
Pipeline velocity accelerates
Discounting is reduced
Retention improves (churn goes down)
Read more about Ibbaka’s Value Pricing Dashboard.
Implement Customer Value Management with the Ibbaka Value Pricing Dashboard
The Value Pricing Dashboard will be where you integrate applications across the customer journey
Accelerate business growth with Ibbaka’s Value Pricing Dashboard (This Post)
Ibbaka Performance Announces World’s First Value Pricing Dashboard (Press Release)
