When and how do you hire a pricing consultant? Pricing consultants have the power to streamline your pricing strategies and enhance profits, yet they may also complicate matters with too much analysis. This article offers crucial advice on when and how to choose a pricing expert wisely.

Service-led growth offers a compelling alternative to product-led growth. It requires less investment capital and builds stronger and more durable relationships with customers. These relationships drive the insights needed for meaningful innovation. But is service-led growth relevant to manufacturing?

Service-led growth (SLG) is a new approach to growing resilient, adaptive and sustainable companies. It is based on a growth flywheel that is kicked off with services, that lead to subscriptions, data is gathered to generate insights, that lead to new services. It is an alternative to product-led growth that is less dependent on external financing.

Customer value management (CVM) is the most important business discipline. It helps companies across the value cycle of create, communicate, deliver, document and capture value. The result is that companies can track V2C (Value to Customer) and make sure that V2C and LTV (Lifetime Value of a Customer) are aligned. This requires methods from value-based pricing.

Many organizations struggle to adjust prices for local markets. Price setting in these markets is often arbitrary but it does not have to be. One can adjust pricing for international markets in a way that is fair, consistent and transparent. The Service Design Network provides a recent example.

Value-based pricing is widely recognized as the most effective way to price a differentiated offer and is currently the reigning champion for B2B pricing. Why do so many companies struggle to implement value-based pricing/ There are many reasons, ranging from a lack of understanding of the basic concept to a struggle to communicate their value differentiation. But one of the underlying causes, one that we seldom talk about, is a lack of trust. Trust is the foundation of value-based pricing.