In last Thursday's popular webinar, "Quantifying and Capturing Value In the Age of Healthcare Reform", Chris Provines joined us to discuss how the Accountable Care Act (ACA) will impact all healthcare suppliers, as well as share best practices for growing your business in this changing healthcare landscape. Below we recap the first half of the interactive Q&A session that concluded the live webinar. Part two will be posted later this week.
Q: What are the top 1-2 things that manufacturers
Value modeling requires teamwork. Best practices show that this exercise demands the involvement of several functions in the organization: marketing, pricing, sales, finance, innovation, R&D, operations and others when needed. By working together, teams converge to reach consensus on value driver measurement models, the level of driver economic value and the value messages for every stakeholder. Convergence is critical for collaboration between functions and managing the complexity of value
In our February 2013 webinar, "Incorporating Value in Your Stage Gate Process," Dr. John Hogan joined us to identify common value leaks, and using real customer examples, showed how to seal them by incorporating "value gates" into your development process. Click here watch the recording.
Q: Why are folks now more interested in thinking about value earlier in the product development process than before?
A: There are two fundamental changes in the marketplace going on. At the macro-level, coming
Nothing in business is static. Things change quickly, suddenly, and frequently. The same goes for value models. A value model will quickly be outdated, irrelevant, and obsolete. This is due to the dynamic nature of the critical elements used to model value. Value models need refreshing, need reworking, and need to reflect the dynamic change happening in the market place. I therefore conjecture that organizations using value-based pricing and building value models should do these activities dynam
Are you able to clearly articulate the value proposition for your strategy, your business model, or your products and services? Can you recite in one quick minute this value proposition, and two or three value drivers that illustrate its power and monetized value? If you are a business leader in the trenches or an multi-tasking entrepreneur, chances are that you have not gone through the exercise and are not ready for it.
I was recently participating in a top management conversation at a fairly
We have all heard the rhetoric. If these marketing guys had a target on their backs they would understand what pressure was really like! The sales team is just lazy. They never follow up on our sales leads (goal dust). Or if they do it’s two weeks later when the leads have gone cold. If only our marketing department understood the product we might see some decent brochures, some decent web site copy, some real leads.
And so it goes on. A disconnect occurs. It seems they are on different sides ne
Strategic pricing experts advise B2B companies to set prices based on their tangible economic value. This approach, known as Value-Based Pricing, has proven to be more profitable than either traditional cost-plus or competitive pricing methods. But how do you measure economic value? It begins with a value model, which quantifies that tangible, economic value of your product.
In this video, we'll explain some key value modeling concepts. Plus, we'll show how anyone can build a value model in minu
Value Selling is a term to describe what high performing Sales professionals do day in and day out. At its core, Value Selling is about effectively communicating to customers how your solutions are better than the competition and articulating how much that is worth from a dollar and cents perspective. Value selling in B2B markets works because purchases are essentially economic transactions, where buyers are trying to make rational tradeoffs on how to best allocate limited resources. In this con
Marketing teams in the B2B world spend thousands of hours carefully crafting marketing materials aimed at communicating the value proposition of their products and services. We've all seen the fancy PDFs filled with product specs, wordsmith messages, and impressive visuals designed to capture the essence of the solution being pitched. Marketers responsible for putting together these materials also go through great efforts training sales teams on how to access and leverage marketing collateral w
Assessing Customer Value, Engaging, and Integrating Sales Into the Process
In January, George Cressman joined us to deliver an excellent webinar on The Right Path to Pricing Maturity. Click here to watch the recording or download a copy of his slide deck. At the end of his remarks, we received a number of great questions from attendees. This is Part Two in a two-part series in which we present George’s expanded responses. Click here to review Part One, his response on the time and resource inves