They’ve been to your website to research your product and download free content. They follow you on social media and learn from your posts without commenting. Though they lurk in the shadows, today’s buyers are hard at work educating themselves about every possible solution to their problem.
Our series on value pricing continues with a detailed look at how to set prices that benefit both you and your customers. Now that you understand the risks of other pricing models and how value pricing leverages the value your offering creates for customers to maximize earnings for your company, let’s look at one way to actually calculate the optimal price and the data you would need to populate the formula.
As we discussed in the first post in this series, Value Pricing: What to Avoid at All Cost, there are many different ways to set the price of your offering, including cost-based, psychological-based, and market-based pricing. Now let’s look at value based pricing and why it is the most effective way to maximize return on investment from your offering.
Everyone in the software world who hasn’t been living under a rock is (or should be) gearing up for May 25, 2018. That’s when the new EU General Data Protection Regulation (GDPR) reshapes how organizations around the world approach data privacy with citizens in European Union countries.