Our pricing-focused season continues with a look at measuring customer’s perception of your offer. Ironically, analyzing the utility of your product or service independent of price (at first), is incredibly helpful in analyzing your price.

Generally speaking, customers are willing to pay more for an offer of greater perceived value. The issue is: most businesses mistakenly believe there is no reliable way to measure the perceived utility or benefit of an offer.

The team discusses why — and how — measuring value is not only possible: it may be the most important metric in your business.

In this episode you will learn:

• A simple, two-dimensional way to measure your pricing effectiveness
• Why perfectionism may be keeping you from gaining substantial pricing insight
• Why taking price out of your initial pricing analysis is the best first step

Here are some quotes from the team’s discussion:

“Most businesses are driving half-blind by analyzing price without measuring the benefit delivered.”

“Measuring the utility of your offer involves analyzing the ‘soft’ benefits’ of your product too.”

“Soft benefits can be measured too. We get surveyed on these types of things all of the time!”

We hope you enjoy the discussion and gain some helpful insights!