Impact Pricing #CLASSIC The Art of Value with Kirk Bowman
Kirk Bowman is the founder and Visionary of Value and the Art of Value, a pricing consultancy in Dallas, TX. His podcast, the Art of Value Show, is one of the most shows for knowledge professionals. He has spoken at numeration conferences on pricing including QuickBooks Connect and Scaling New Heights. In 2011, he was appointed a Practicing Fellow at the VeraSage Institute, the think tank founded by Ron Baker. His software company, MightyData, was featured in the book Implementing Value Pricing.
In this episode, Kirk talks about value pricing, how he was introduced to it and later switched to this method in estimating and billing customers. Be inspired as he shares how this decision increased his revenue by over 50% in the first year and 70% in the second. Learn this and more in his journey on value pricing.
Why you have to check out today's podcast:
- Find out how Kirk learned about the concept of value pricing
- Identify the two categories in measuring results
- Find out details about Kirk's pricing consultancy company and his podcast
"The next time the customer asks for a lower price, turn around and ask them what value they are willing to do without in order to get that price."– Kirk Bowman
Topics Covered:
01:36 – How Kirk discovered value pricing
03:40 – The concept of value pricing and how it aligns the interests of the professional with his customer
07:13 – Two categories in measuring value: results or outcomes, and how the two differ
12:11 – Sharing the profile of his pricing consultancy company – Art of Value and how it is helping professionals with their business models
14:32 – His podcast – Art of Value and the reason he loves doing it
19:37 – His pricing advice that has a significant impact
Key Takeaways:
"The customer's interests are the most important thing. When you align with that, you're lining things up for success." – Kirk Bowman
"It's so important to put alignment upfront as one of the things that you're striving for and keep your eye on at all times because it is in our human nature to focus on our own self-interest and so the focus on theirs, it requires intentionality. It requires strong character." – Kirk Bowman
"Value and pricing are subjective, and by the way, that's okay." – Kirk Bowman
Connect with Kirk Bowman:
- LinkedIn: https://www.linkedin.com/in/kirkbowman/
- Website: https://artofvalue.com/
Connect with Mark Stiving:
- LinkedIn: https://www.linkedin.com/in/stiving/
- Email: mailto:mark@impactpricing.com