Presentation From Alan Weiss Book

Earn What Youre Worth: ValueBased Pricing
LINDA POPKY
Leverage2Market Associates
Material. All rights reserved
Goals Today
Understand why value-based pricing makes sense for
you and for the client
Learn how to identify the economic buyer in an
organization and build meaningful rapport
Understand importance of developing key objectives,
measures and values, and of gaining conceptual
agreement with clients
Develop a plan to transition to a value-based pricing
approach
About You
One Minute Introductions:

Name
Company
What youd like to get out of todays
session
Tell us: Why is a client better off after
theyve worked with you?
Our Reference
Material in this
workshop comes from
the work of Million
Dollar Consultant Alan
Weiss, Summit
Consulting, and is used
with his permission
The Real Reason
Because this stuff

really works.
The Ethics of Fees
A Tale of Two Painters
Luis vs. Francisco

Wrong Focus
On Input:
Billable hours
Hourly rate
Tasks and deliverables
Rather than Output:
What will project accomplish?
How is client better after Im gone?
Change in clients condition
Whats Wrong With Supply

& Demand
Fees Should Depend on Two

Things
Value provided in the perception of the buyer

Intent of buyer and consultant to act ethically
People Pay for Value
Value is Recognized
Key Concepts
Economic Buyer vs.
Gatekeeper
Objectives/Measures
Value
Conceptual Agreement
Gatekeepers
Role is to protect
decisionmakers from
people like us
Can say no, but cant say
yes
Acts as go-between
Often implements project
The Economic Buyer

Has power to write
check, issue PO, or
authorize payment
Isnt always intuitively
obvious
Qualifying the Economic

Buyer
Whose budget will support
this?
Who will be evaluated on the
project?
To whom do you go for
approval on options?
Who makes the final decision?
If were in agreement,
what prevents us from
starting this project today?
Youre Not Talking to the

Economic Buyer When You Hear:
I make the decisions on
this project. Ill just need
to get my boss to sign off
on the final budget.
This looks great. Just let
me get approval for the
$$ from my boss.
New Economy Warning

Purchase authority has
been restricted greatly.
Former economic buyers
have been disempowered
Much higher titles now
needed to approve even
small budgets
Conceptual Agreement
Build the relationship
with the economic buyer
Get agreement about
objectives, measures and
value
Move to proposal
Objectives/Measures/Value
Objectives:
What the business sees as
success
Measures:
How the client will determine if
this has been successful
Value:
Changes that will occur with
the success of the project
The Value-Based Fees

Sequence
Proposal with options
Conceptual agreement
Relationship based on trust
Qualify the Buyer
Wants vs. Needs
The Good Deal Equation
Tangible Outcomes x Expected Duration of Outcomes +

Intangible Outcomes x Emotional Impact of Intangibles
+ Peripheral Benefits + Variables Positively Affected
_______________________________________________
Fixed Investment Required
Determining Your Value
Why me?
Why now?
Why in this manner?
Exercise
Experience Intervention - Outcome
The Four Objections to Fees
I dont trust you.

No credentials
Poor credibility
Uncertain point of entry
Build a trusting
relationship with the
buyer
I dont need you.

Theres nothing to fix or
improve
You havent motivated
the buyer
Your job is to identify
preexisting or new
needs, or anticipate
future needs
I dont feel any urgency.

Fear of disruption
Return doesnt justify
investment
This situation is normal
Create urgency:
Competitive actions
Window of opportunity
Damage occurring now
Show greater return
Deteriorating condition
I dont have any money.

Really refers to trust,
need, urgency
Money can almost always
be found
Help the client find
the funds
Offer alternative
payment terms
Power of Options
Easier to find a way

to say Yes.
Offer choices in terms
of both price and
value
Offer options above
clients acknowledged
budget
Growing a Project with

Options
Workshop/Training Session
$15K

Options
Pre-session
customization
+ $7K

Options
Post-session 1:1
coaching attendees
+$8K

Options
$7K
$15K
$8K
Total: $30K
Determining ROI
Estimate return on
investment
Be conservative!
Provide 10:1 return
on your contribution
Important Reminder:
Never reduce price
without reducing
value.
Its OK to offer a lower
price option
But reduce the value you
are providing
Discount only for value
you receive (e.g., full
prepayment)
Get Paid In Advance
Furniture stores and supermarkets do it,

why not consultants?
Common Consultant
Mistake
Undercharge and
overdeliver
Ultimate Win:
Get me Linda.
Not:
Get me a good
marketing consultant.
Characteristics of a Strong
Brand
It Draws People To You
Geared Towards Target
Differentiates You
Focuses on the Benefits, not

the Features
Allows you to Charge for

Your Value
Clearly Identifies What you

Stand For
Applicable Across Multiple

Media and Circumstances
Highlights Your Strengths
Shows Your Personality
Has Consistency
Value-Based Fees:
Where to Start?
First Sale = To Yourself
Practice Talking Higher

Numbers
Logic vs. Emotion

Logic makes people
think
Emotion makes
people act
People act in their
own enlightened selfinterest
Moving Clients to ValueBased Fees
Value Based Business

Onboard
Increase perceived
value to high
potential clients
Ignore low potential
clients
Offer new value
Offer New Value
Unlimited access
Wider access
New services
Combined buyers
New access points
Communities and
memberships
Look Differently
Find new buyers at
existing clients
Offer new services
Look for new
circumstances: markets,
environments, business
events, etc.
Keep Focus on Value
Tell me what
youll charge.
I dont yet know what you need or if

Im the right person.
Lets table that till I learn more
about you.
Its unethical for me to tell you that
this early in the process.
The range is between $X and $Y
Whats your budget?
Let Some Go
Some clients should
be abandoned
Need to save time
and energy for
newer, more
profitable business
Start Fresh
Use value based
pricing for new
business
Explain why this is in
your clients best
interest
Real Retainers
Clients pay for access to
your smarts.
NOT a bank account to
draw down from
NOT a way to charge
project fees
Great for clients who
want you on board, but
not for a specific project
Role Play
Potential Pitfalls
Dont Get Lost in The Effort
Dont Do It Alone
Dont Give Away The Store
Exercise: Action Plan

Identify current client
opportunity
Current expectations
Chapter 7: Pick three
ways you can add
value and increase
fees
Questions?
Leverage2Market Programs
Marketing Leverage Assessment:
One-time review of strategies,
programs, goals, objectives
Coaching Program
90-day coaching program
Seminars, teleseminars,
workbooks, coaching, consulting
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Your New Mantra
I have so much valueI would be

remiss to not offer it to as many
people as I can.
Theres No Sound Unless

You Make It
What Will You Do in the Next

Seven Days?
Go Change the World!

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Earn What Youre Worth: ValueBased Pricing

Material. All rights reserved

Material. All rights reserved

One Minute Introductions:

Material. All rights reserved

Material. All rights reserved

The Real Reason

Because this stuff

Material. All rights reserved

The Ethics of Fees

Material. All rights reserved

A Tale of Two Painters

Luis vs. Francisco

Material. All rights reserved

Material. All rights reserved

Whats Wrong With Supply

Material. All rights reserved

Fees Should Depend on Two

Value provided in the perception of the buyer

Material. All rights reserved

People Pay for Value

Material. All rights reserved

Material. All rights reserved

Material. All rights reserved

Material. All rights reserved

The Economic Buyer

Material. All rights reserved

Qualifying the Economic

Material. All rights reserved

Youre Not Talking to the

Material. All rights reserved

New Economy Warning

Material. All rights reserved

Material. All rights reserved

Material. All rights reserved

The Value-Based Fees

Material. All rights reserved

Wants vs. Needs

Material. All rights reserved

The Good Deal Equation

Tangible Outcomes x Expected Duration of Outcomes +

Material. All rights reserved

Determining Your Value

Material. All rights reserved

Material. All rights reserved

The Four Objections to Fees

Material. All rights reserved

I dont trust you.

Material. All rights reserved

I dont need you.

Material. All rights reserved

I dont feel any urgency.

Material. All rights reserved

I dont have any money.

Material. All rights reserved

Easier to find a way

Material. All rights reserved

Growing a Project with

Material. All rights reserved

Growing a Project with

Material. All rights reserved

Growing a Project with

Material. All rights reserved

Growing a Project with