If you are building a b2b product, one of the trickiest things is pricing.
Lots of information is available on this topic, and there are books, sites, tools dedicated to this.
While product managers, marketers and founders discuss and debate pricing, something more important is often missed.
* Articulation of value *
Nobody buys business products for fun – and the buying process involves multiple people
The larger the organization and bigger the price tag, the greater is the complexity and number of people involved
Explaining what value or benefit your product offers
To each of these people is often the gap from initial interest to closing the sale
Here are the steps we follow:
– List out all the buyer personas
– List out the user personas – roles that will use (there can be overlap at times)
– How are you making their lives better?
– Can you quantify the overall value in monetary terms?
– Put that in your product marketing materials
– Get other customers to talk about the value (if you have some success stories already)
This is a lot of work and can be hard too
But it’s worth it
You will most likely be able to charge more
You might be able to create FOMO
You will certainly stand out from those competing on price alone
How do you convince your customers to buy?
Do you talk about value?