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How to Boost your Pricing Power

Updated: Sep 23, 2022

In this post, we will apply all business storytelling techniques to the most central, age-old question which has preoccupied philosophers, businessmen, and professionals alike throughout human history: “How can I charge more money”?

ROI matters, but only so much

Most products try to justify higher pricing with superior quality, features, ROI.

And it matters. But only so much.

Your premium, if any, will be limited by the savings or additional benefits you provide.

Further, any higher price will eat into the financial benefit. A win-lose proposition!

Is there a better way?

What else do people pay a premium for?

People willingly pay a premium for exclusivity and status.

For emotional benefits such as peace of mind and comfort.

For new capabilities which empower them to imagine and realize new possibilities.

Unlike financial or operational benefits, these benefits allow a win-win, limitless pricing proposition.

Yes, but does it work for Enterprise Solutions?

I can hear some people object: this might work well for consumer products such as designer dresses, perfumes and luxury watches, but not for enterprise solutions.

Enterprise solutions need hard-headed ROI analysis.


Consider enterprise offerings such as:

  • Prime office location

  • Business consulting

  • Digital Transformation

Enterprises routinely (and happily) pay a premium for these categories.

Ironically, the higher priced the real estate, the more spacious the lobbies; so it clearly is not about operational benefits. As with some luxury consumer goods, increasing price could even increase value!

We like to think business decisions are rational

And they are. But the rationale extends beyond the economic and operational.

That, in fact, is the key to premium pricing.

The real costs and benefits of your offering are intangible…

Most technology, knowledge services, and intangible products have costs and benefits which go beyond the direct and financial.

Of course, if you have a commodity product with an easy substitute, none of this applies. Else, read on.

To command a premium, you must sell the intangible benefits.

But Complexity Kills

Intangible benefits can be hard to understand and evaluate, however.

The issues are complex. The real benefits are hard for clients to understand, assess, and communicate to others within their organization. The larger benefit comes from flexibility, new capabilities that the product enables, and future roadmap – which are still harder to assess.

Even the TCO (total cost of ownership) is hard to assess. The cost of training, maintenance, and future upgrades far outweigh the price, making comparison more complex.

To compound the problem, buyers do not have the time and often the capability to evaluate, or even to ask the right questions.

If you can help them see the power of your offering, what it can do for them now and in the future, and instill confidence, your pricing power will be dramatically higher.

More information is not the answer

The first instinct of most providers is to talk about superior performance, technology, benefits.

Unfortunately, that does not work. It does not address the main issue – the complexity.

You must provide details and data, but at the right time. After the customer understands the “why” and wants to know more.

In fact, more complexity and data too early in the cycle kills sales.

Use Stories Instead

To create a compelling proposition, appeal to all their decision centers.

Touch their hearts.

Align with their values and purpose.

Uncomplicate for their gut. Simplify complex concepts. Convert data to insights.

Evoke trust.

And lastly, inspire their imagination. Help them imagine a different future identity.

Stories are the most powerful medium to do this.

Example: Cloud Solutions

How would you apply this framework to selling cloud solutions?

The commodity providers sell features (and lower price).

Premium providers sell reliability, ease of use, and scalability.

Transformational providers sell digital transformation, a safe and guided migration to a new digital identity, and a promise of new capabilities for the digital world, now and in the future.

The Secret to Premium Pricing Power

Create a quantum jump in customer value, your pricing power, and customer LTV.

Stories elevate you from a vendor to a trusted partner in their journey.

So Tell a Story

Create a Premium Brand. Boost your value to the customer. Increase your pricing power.

Looking to build a great story video? Something that makes people not just learn about, but feel your product benefits? Leverage StoryProcess to tell great stories, engage & inspire your audience, and transform your business.

Your Product has a story to tell. Tell it well.


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