Value Based Selling
Our customer specializes in services in various industries targeting each industry with a different label/brand. They grew substantially over the past yearsusing a buy and build strategy. Each acquired firm had their own interpretation of pricing and worked mostly on cost-plus basis. Understanding the potential of a more intelligent and structured way of pricing and selling, our customer asked us to help them to structure, price and sell value based for 8 firms.
We developed a set of drivers (e.g., product and customer factors, and value drivers) together with the sales teams. We conducted market research (mystery shopping, expert interviews), customer interviews and internal surveys to validate the drivers and value. Based on these inputs we defined the values for each driver in a dynamic pricing tool. We setup trainings, coaching, monitoring per label, and a governance structure to ensure proper use by the labels.
By taking all key stakeholders along the process we managed to drive the engagement forward through teamwork, resulting in the final tool being sought after by the sales teams, as it allows them to fully understand pricing in detail. Key to success implementing this for 8 labels in a decentral organized group, was to have a tailored co-development approach per label, with frequent alignments. Plus, solid monitoring for the group to steer performance.