Once you determine why and how much value people put over your solution, only then you can determine the price point at which you must deliver your solution. Informed by the quantified benefit that your solution delivers and the price point at which your buyers perceive to be just, you can better develop the solutions that are profitable in the long run.

You can never really catch up in digital Remember how long it took most organizations to become a digital enterprise? It took more than two decades to operationalize the added layers of digitization in an integrated manner. Riding this wave of digital transformation is not really something that you ever catch up. The later you develop new digital experiences, the later you will monetize your data.

Today, we go back to our original question? How will you create new digital services, experiences, and transformations that customers are willing to pay for, increasingly more? The short answer is this: you simply can't agile your way into monetization.

Translating the benefit-value continuum into the product features and functionality is easier said than done. Most start-ups over-engineer solutions that make their own product vision “complete.” But savvy product management requires omitting the features that drive the costs more than adding value for paying customers. Bringing the pricing process as early as possible into the development cycle will help determine what to build and what to omit accor...

The power of pricing comes from the differentiated product attributes that are of value over the current customer experience - a concept of what pricing scholars call the “exchange value”. This is easier said than done because it requires rigorous competitive research and quantitative analysis. Take most B2B software and software-as-a-service - SaaS. In SaaS, products are less transparent and a feature by feature comparison is difficult to make. In mo...

Most start-ups over-engineer their solutions and make their own product vision “complete.” But savvy product management requires omitting the features that drive the costs more than adding value for paying customers. Bringing the pricing process as early as possible into the development cycle will help determine what to build and what to omit according to what you can indeed sell first to early-adopters and later to paying customers.

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