Buyer Determined Pricing?

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Crazy [fun] idea alert🚨

IF we [are crazy enough and] really believe our work/product/service will speak for itself…

Could we let our customers decide what they pay based on what THEY believe and experience the value is…🤔🤯

Just go with me here…it’ll be a fun thought experiment.

I’m playing with a pricing strategy where the buyer decides what they want to pay. Here’s the idea:

(Scenario: I’m a revenue consultant that helps businesses implement a better buyer experience. Most call it Customer Journey or CX customer experience.)

1. I start by telling the client the deal. They get to decide the price based on what they believe the value is to them; at two different points.

2. I start working for free. I conduct the collaborative sessions. I help them develop their process and plan. And I deliver the entire service without requiring payment.

3. After we wrap up, I tell the client to pay what they believe my service is worth TO THEM. (I’ll only give them my baseline/previous set price if pressed hard)

4. Then, I follow up as promised within the timeframe to ask what value they are seeing and if they would like to update their payment based on the value they’re seeing. Addition or subtraction (refund). Their call. No judgement.

⚡️Yes it’s a crazy idea.

But doesn’t it make you a little curious to try it?

(my thoughts drift to: what if your product or service boosted the customer’s revenue by 5% yoy and they decided to pay you 10% of their first year gains… what’s the math of a $50k gain for the customer? A $1M gain? I’ll let you do the math 😉)

• Could customers take advantage of you? YES

• Will customers get a great deal they’re excited about? YES

• Will you be motivated to deliver the highest value product and service? YES

• Is it possible you underestimate your value and might be surprised by the customers valuation or experience? YES

• With varying payments, will you have opportunities learn how to be better, every time? YES

So…

do we believe we deliver high value? Do we believe it enough to let customers decide our value? 🤔🤯🔥

Definitely risky. Definitely better service.

⁉️ Would you try it?