Professionals should be adopting a value focus and pricing their services on the basis of value. That is an absolute fact. However I want to detail what value pricing is not.
Value pricing is not an excuse to charge more.
Often firms who adopt value pricing end up charging more for what they do. This is usually because one of the biggest problems that many professionals suffer from is undervaluing what they do.
The key fundamental aspect of value pricing is that it is based on value. This means that it is imperative for anybody wanting to value price you must start with a value conversation. If there is no attempt (or little attempt) at a value conversation then you are not value pricing but rather just increasing prices.
Value pricing is not a manipulative tool. Unfortunately I have seen recently some firms who state they are value pricing but all they doing is trying to drive higher prices and manipulate their clients.
Value pricing is built upon a firm foundation of value. Which brings me to the next important point.
Value pricing is not built on cosmetics items only.
Recently I have seen a number of firms take steps to improve the experience their customers have with the firm. A lot of these steps are good and certainly well meaning. However if the core service offering is not based on a real understanding of what is of value to the client then no cosmetic item will have any meaning.
Focus on the core understanding of what is of value to the customer and design your product and services to deliver that value.
Then and only then can you start value pricing.
Value pricing is entirely based on understanding, creating and delivering value.