Insights & Tips

Already a subscriber? Login

Become a subscriber and unlock an information arsenal focused on making your pricing efforts more effective.

Guess What? Your “Brand” Doesn’t Drive Value.

In the PricingBrew Journal, Identifying Value Along Five Dimensions discusses how to go about brainstorming all of the various ways your offerings provide value.

puzbrainExercises like this are great for breaking the internal tunnel vision that often develops around product-related benefits and value-drivers. And along the way, it’s not unusual for people to have a number of “Aha!” moments as they’re forced to think more broadly about how prospects and customers receive—and perceive—value.

But there’s something obviously missing…

While the article provides nearly 60 examples of specific value-drivers along five primary dimensions of value, the word “brand” does not appear among them.

How can this be? Isn’t your brand supposed to be worth something to prospects and customers? Doesn’t having a strong brand provide a level of differentiated value in a crowded marketplace?

As marketers, we tend to throw around the word “brand” as a sort of short-hand. Of course, we know what it’s supposed to represent—and we often fall into the trap of thinking that our prospects and customers do, too.

They don’t.

Simply put, prospects and customers don’t care about your “brand”—not really. They care about the specific aspects of value that your brand has come to represent.

Is your brand about better service? How much better? Why is it better? And, how does that better service save prospects time, money, or hassle, relative to the alternatives? Is your brand about stability and reputation? Again, why should those things matter when making a purchase decision? And, how do those things save prospects time, money, or hassle, relative to the alternatives?

The point is that you should take care in using the “brand” short-hand when discussing the value of your offerings. Recognize that the concept of brand is an aggregate—an amalgamation—of specific aspects of value.

Break it down. Get specific. In doing so, you’ll likely uncover a half dozen or more specific value-drivers that deserve much more focus and attention.

Get Immediate Access To Everything In The PricingBrew Journal

Related Resources

  • Identifying Your Value Along Five Dimensions

    It's best to present a well-rounded set of criteria upon which customers can base a buying decision. In this guide, you'll learn about five dimensions of value with over 50 potential value-drivers that can influence buying decisions.

    View This Diagnostic
  • Getting Beyond Pricing to Make a Real Impact

    To be effective in B2B pricing, you have to be able influence all of the different functional groups involved. This guide exposes how to influence the upstream decisions that can ultimately make or break your pricing efforts.

    View This Guide
  • Promoting the Power of Pricing

    In B2B, there are many other people affecting pricing outcomes, directly or indirectly. So how do you gain and maintain the organizational attention, support, and participation you need to drive improvement over time? It's easier than you may think!

    View This Webinar
  • Understanding How B2B Pricing Is Different

    It's dangerous to assume that the pricing principles are the same whether the buyer is an individual consumer or a business. This guide explains five important differences between B2B and B2C pricing and how you can use them to your advantage.

    View This Guide